Upbit operator Dunamu posts $165M in profit in Q3, up over 300% YoY

Upbit relation Dunamu reported a surge successful profitability for the 3rd 4th of the year, posting 239 cardinal won ($165 million) successful nett income.

The fig marks an summation of much than 300% compared to the aforesaid play past year, which stood astatine $40 million, section quality outlet Chosun Biz reported, citing regulatory filings with the Financial Supervisory Service.

The filing reportedly showed beardown momentum crossed each cardinal metrics. Consolidated gross climbed to $266 million, up 35% from the erstwhile quarter, portion operating nett roseate 54% to $162 million. Net income besides jumped 145% quarter-over-quarter from $67 million.

The institution attributed its improved show to rising trading enactment arsenic planetary integer plus markets rebounded done 2024 and 2025.

Related: South Korea’s bank-first stablecoin attack lacks logic, says Kaia chair

Dunamu credits US crypto bills for boost

Dunamu said capitalist assurance received a boost pursuing regulatory developments successful the United States, including the transition of the Genius Act, the Clarity Act and the Anti-CBDC Bill. These measures, the institution said, contributed to renewed organization information and steadier marketplace conditions.

Dunamu has faced heightened reporting requirements since 2022, erstwhile it was added to the database of corporations taxable to outer audit owed to having much than 500 shareholders.

Notably, respective large crypto firms experienced a gross summation past quarter. Bitcoin mining institution TeraWulf and Singapore-based cloud Bitcoin miner BitFuFu doubled their third-quarter gross from the erstwhile year.

Related: South Korea ramps up crypto seizures, volition people acold wallets

Naver Financial to get Dunamu

As Cointelegraph reported, Naver Financial, the fintech limb of South Korea’s largest net company, is preparing to get Dunamu. Naver reportedly plans to bring Dunamu successful arsenic a subsidiary done a stock swap, with committee approvals expected soon.

Upbit Korea is the largest crypto exchange successful South Korea successful presumption of trading measurement and lawsuit base, according to CoinMarketCap.

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