South Korean cryptocurrency exchange Bithumb has delayed its initial public offering plans from 2027 to after 2028. The company views this as a strategic move to maximize corporate value ahead of new regulatory legislation expected in 2026. Meanwhile, the exchange faces shareholder pressure over dividend payments and has reported substantial assets and liabilities from its 2025 financial year.
The South Korean crypto exchange Bithumb has pushed its planned IPO timeline from 2027 to sometime after 2028. CFO Jeong Sang-gyun stated the firm has signed an IPO advisory contract and is strengthening its internal controls. We are currently in the process of preparing to strengthen accounting policies and internal controls, and as we are pursuing the industry’s first listing, we are conducting thorough internal verification, Sang-gyun said.
Management described the delay as a strategic move to maximize corporate value. This aligns with awaiting the Framework Act on Digital Assets, which is set for approval in the latter half of 2026.
Some shareholders have expressed dissatisfaction over the lack of dividend payments. They have compared the exchange to competitor Dunamu, which pays dividends to its investors.
CEO Lee Jae-won defended the company’s capital allocation strategy. Last year, considering the competitive market conditions, we concentrated capital on expanding the company’s market share and increasing corporate value, Jae-won argued.
The exchange’s 2025 financial report showed total assets of approximately $3.3 trillion and liabilities nearing $2.5 trillion. IPO discussions were not prominent during that fiscal year.
At press time, Bithumb’s trading volume stood at over $523 million. This represented a 24-hour increase of 10.2%.
Data indicated more Bitcoin was being deposited than withdrawn from the exchange. This suggested increased selling pressure amid a sideways market movement.
The exchange was also involved in a recent investigation regarding a significant accidental transfer. This incident involved sending over $40 billion worth of Bitcoin to customers erroneously.
These operational and regulatory factors are influencing Bithumb’s revised IPO schedule. The company aims to position itself favorably for a public listing in the coming years.
