Crypto exchange Bithumb has reportedly started its IPO work with Samsung Securities

South Korean cryptocurrency exchange Bithumb has reportedly begun its initial public offering (IPO) work with Samsung Securities as an underwriter.

Local media outlet MoneyToday reported the news on Wednesday. Specific details of the offering aren’t clear. The Block has reached out to Bithumb and Samsung to know more and will update this story should we hear back.


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An anonymous official from the securities industry told MoneyToday that if Bithumb launches an IPO, there will be “marketability and valuation issues,” as well as “internal company issues and uncertainty about cryptocurrencies itself."

Bithumb Korea’s largest shareholder is Bithumb Holdings, with nearly a 74% stake, but the latter’s shareholders aren’t known, per the report. Bithumb is also known to have been involved in a court case. This year, the exchange filed a complaint against Korea’s National Tax Service, seeking to nullify a massive tax bill of over $69 million.

The IPO news, if true, would be Bithumb’s second attempt to go public. Last year, the exchange sought to list in the U.S. via a reverse merger deal, but that did not materialize.


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Yogita Khatri is a senior reporter at The Block, covering all things crypto. As one of the earliest team members, Yogita has played a pivotal role in breaking numerous stories, exclusives and scoops. With nearly 3,000 articles under her belt, Yogita holds the records as The Block's most-published and most-read author of all time. Prior to joining The Block, Yogita worked at crypto publication CoinDesk and The Economic Times, where she wrote on personal finance. To contact her, email: [email protected]. For her latest work, follow her on X @Yogita_Khatri5.