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 <p class="is-style-lead">Bithumb gears up for a pioneering initial public offering (IPO), targeting a market shake-up against Upbit’s dominant 85% share in the virtual asset industry.</p>
 <p>In a move that aims to disrupt Upbit’s 85% stronghold on the market, Bithumb Korea is reportedly pioneering an IPO in the virtual asset exchange industry.&nbsp;</p>
 <p>The strategy could underscore a trust-centric approach deemed crucial for regaining Bithumb’s leading position in the Korean <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a> exchange space.</p>
 <p>The IPO will reportedly occur in the latter half of 2025, with a primary focus on a KOSDAQ listing and potential considerations for the KOSPI market under specific circumstances.&nbsp;</p>
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    <p lang="en" dir="ltr">Bithumb IPO: A big step for the South Korean <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency industry.<br> Bithumb, one of the largest <a rel="noopener noreferrer nofollow" title="crypto" href="https://thebittimes.com/tag/crypto.html">crypto</a>currency exchanges in the world and the largest in South Korea, is planning to go public on the South Korean stock market. This is a big step for the South Korean…</p>— Nhu Nam (@NhuNam5) November 12, 2023
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 <p>Amid the intense competition in virtual asset exchanges, Bithumb’s decision to go public appears less about raising capital and more about restoring market confidence.&nbsp;The exchange has a history of scandals, some of which led to regulatory inspections in South Korea.</p>
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 <h2 class="wp-block-heading" id="boadroom-reshuffles">Boadroom reshuffles</h2>
 <p>In preparation for the IPO, structural changes are underway within Bithumb’s corporate echelons. Lee Jeong-hoon, the previous chairman and major stakeholder, has marked his return to active governance by rejoining Bithumb Holdings’ board.&nbsp;</p>
 <p>His reintegration as a director has been seen by some as a testament to his commitment to responsible leadership, especially since he himself reportedly vowed to practice more responsible management.</p>
 <p>The reshuffle also comes with the exclusion of Lee Sang-jun from the board amid controversies surrounding coin listing solicitations.</p>
 <p>Jaewon Lee, the CEO of both Bithumb Korea and Bithumb Holdings, is now poised to steer the company toward an IPO under the guidance of former Chairman Lee.</p>
 <p>Bithumb’s silence on the IPO specifics may reflect a strategic discretion. However, the confirmation of an underwriter suggests that wheels are in motion to usher in the new era for the exchange.</p>
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<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/bithumb-sets-sights-on-ipo-to-rebalance-crypto-power-tbt70012.html">https://thebittimes.com/bithumb-sets-sights-on-ipo-to-rebalance-crypto-power-tbt70012.html</a></p>

Bithumb sets sights on IPO to rebalance crypto power

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