Bithumb, South Korea's 2nd Largest Crypto Exchange, Plans IPO by 2025 to Compete with Rival Upbit
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Bithumb, a major South Korean crypto exchange, plans to have an IPO and list on the Korean stock exchange Kosdaq by 2025.
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Bithumb selected Samsung Securities as its potential IPO underwriter.
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Bithumb's former chairman Lee Jeong-hoon returned as director, while CEO Lee Sang-jun was excluded from the board.
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The IPO plan is seen as a move to gain market share against rival Upbit, currently Korea's largest exchange.
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Bithumb was founded in 2014 and is currently the 2nd largest Korean exchange after Upbit.