Bithumb Sets 2028 IPO Target, Plans Internal-Control Overhaul
Bithumb said it will work with outside advisers and finish risk controls and accounting standards by the end of 2026.
- On Monday, Seoul-based Bithumb announced plans for a 2028 initial public offering following a major internal reorganization to strengthen control and adopt international accounting standards.
- Earlier this year, Bithumb faced major regulatory challenges following a $40 billion blunder that failed to prevent a massive bitcoin transfer, leaving the exchange open to potential sabotage.
- The exchange is working with domestic and international securities, law, and account firms, targeting completion of risk management assessments by the end of 2026 and preliminary listing review in 2027.
- Its CEO Lee Jae-won admitted to "a deficiency in internal control" while the company considers listing on South Korea's Kosdaq, shifting from previously considered NASDAQ plans.
- Binance remains the leading global crypto exchange, expanding beyond spot and derivatives into RWAs, payments, and broader financial services amid competitive pressures in the sector.
21 Articles
21 Articles
Bithumb sets 2028 IPO target with governance overhaul plan
Bithumb has outlined a roadmap to complete its initial public offering in 2028 after detailing upgrades to its governance, financial reporting, and internal control systems. According to Bithumb, the South Korean cryptocurrency exchange is working with leading domestic accounting firms…
Bithumb, a domestic virtual asset exchange, announced on the 3rd that it plans to complete an Initial Public Offering (IPO) by 2028. In a notice posted on its website on the same day, Bithumb stated, "We are pursuing an IPO to maximize corporate value and demonstrate management transparency." Bithumb aims to enhance internal controls and transition to Korean International Financial Reporting Standards (K-IFRS) within this year. It plans to file …
(Seoul = Yonhap News) Reporter Park Soo-hyun = Virtual asset exchange Bithumb plans to complete its initial public offering (IPO) by 2028 by improving its corporate structure, including establishing a transparent governance structure...
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