Upbit parent Dunamu’s profits drop 81% in Q3 By Cointelegraph
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Dunamu, the owner of Upbit, one of South Korea’s biggest crypto exchanges by trading volume, saw a drop of 81.6% in net profit in the third quarter of 2023 compared to the same period last year.
The company reported a net profit of 159.9 billion Korean won (KRW), worth around $123 million, in 2022 Q3. However, on Nov. 28, the company said that in the third quarter of this year, it could only generate 29.5 billion KRW, worth around $23 million. This marks a drop of 81% in the company’s net profit.
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Dunamu, the owner of Upbit, one of South Korea’s biggest crypto exchanges by trading volume, saw a drop of 81.6% in net profit in the third quarter of 2023 compared to the same period last year.
The company reported a net profit of 159.9 billion Korean won (KRW), worth around $123 million, in 2022 Q3. However, on Nov. 28, the company said that in the third quarter of this year, it could only generate 29.5 billion KRW, worth around $23 million. This marks a drop of 81% in the company’s net profit.
Continue Reading on Cointelegraph
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