The company operates Upbit, South Korea's largest crypto exchange by trading volume and customer base.
Crypto News
Dunamu reported $165 million in net income for the third quarter, marking a 300% increase from the $40 million posted during the same period last year. The company operates Upbit, South Korea's largest crypto exchange by trading volume and customer base.
Consolidated revenue climbed to $266 million, up 35% from the previous quarter, while operating profit rose 54% to $162 million. Net income jumped 145% quarter-over-quarter from $67 million, according to regulatory filings with the Financial Supervisory Service.
The company attributes improved performance to rising trading activity as global digital asset markets rebounded through 2024 and 2025. Dunamu stated that investor confidence received a boost following regulatory developments in the United States.
The passage of the Genius Act, the Clarity Act and the Anti-CBDC Bill contributed to renewed institutional participation and steadier market conditions, according to the company. These measures helped stabilize trading volumes on the platform.
Dunamu has faced heightened reporting requirements since 2022, when it was added to the list of corporations subject to external audit due to having more than 500 shareholders. Several major crypto firms experienced similar revenue increases last quarter.
Bitcoin mining company TeraWulf and Singapore-based cloud Bitcoin miner BitFuFu both doubled their third-quarter revenue compared to the previous year. The increases reflect broader market recovery and increased institutional interest in digital assets.
Naver Financial, the fintech arm of South Korea's largest internet company, is preparing to acquire Dunamu through a share swap deal. Board approvals for the transaction are expected soon, with Dunamu set to become a subsidiary of Naver Financial.
The acquisition would give Naver Financial control over the country's dominant cryptocurrency exchange platform and expand its presence in the digital asset sector.
This article contains links to third-party websites or other content for information purposes only (“Third-Party Sites”). The Third-Party Sites are not under the control of CoinMarketCap, and CoinMarketCap is not responsible for the content of any Third-Party Site, including without limitation any link contained in a Third-Party Site, or any changes or updates to a Third-Party Site. CoinMarketCap is providing these links to you only as a convenience, and the inclusion of any link does not imply endorsement, approval or recommendation by CoinMarketCap of the site or any association with its operators. This article is intended to be used and must be used for informational purposes only. It is important to do your own research and analysis before making any material decisions related to any of the products or services described. This article is not intended as, and shall not be construed as, financial advice. The views and opinions expressed in this article are the author’s [company’s] own and do not necessarily reflect those of CoinMarketCap.
