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via BeInCrypto · By BeInCrypto Editorial
Upbit Profit Crashes 85% Months After Korean Giants Paid $1.5 Billion to Buy In
BE
BeInCrypto Editorial(07:39 PM UTC)
1 min read
Upbit profit collapsed in the second quarter. Operator Dunamu posted an 85% drop in operating profit as trading fees dried up at South Korea’s largest crypto exchange.
The filing landed three months after Samsung, Hana Bank and Hanwha spent about $1.5 billion buying into the company. Together they now hold close to a fifth of it.
Upbit Profit Margins Fall From 88% to 14%
Dunamu filed its half…
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