Research | Why UPbit was the only Korean crypto exchange to record a profit [$120m] in 2018

Every other major Korean exchange recorded a substantial net loss

Why UPbit was the only Korean crypto exchange to record a profit [$120m] in 2018

by Joseph Young@iamjosephyoung • 5 minute read

UPbit, the largest crypto exchange in South Korea, was the only exchange to record a profit in 2018. UPbit is operated by Dunamu, a company heavily invested in by Kakao—one of the most influential internet conglomerates in South Korea.

Every other major exchange recorded a substantial net loss, primarily d…

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