Report: Operator of South Korean Crypto Exchange Upbit Sees a Nearly 40% Drop in Operating Profit

Dunamu, the relation of the South Korean crypto speech Upbit, precocious said it had realized an operating nett amounting to $79 cardinal successful the 3rd 4th of 2023. Virtual plus valuation losses contributed to the 81.6% driblet successful the operator’s nett net for the period.

Operating Profit Down by Nearly 40%

In the 3rd 4th (Q3) of 2023, Dunamu, the relation of the South Korean crypto speech Upbit, reportedly realized an operating nett of conscionable implicit $79 cardinal (101.8 cardinal won). According to a Decenter report, Dunamu’s Q3 operating nett is astir 40% little than the $130.9 cardinal realized successful the corresponding play successful 2022.

Similarly, Dunamu’s Q3 revenue, which stood astatine astir $150 million, is 29% little than the $211 cardinal realized successful the aforesaid play past year. Also, the crypto speech operator’s Q3 nett net of $22.9 cardinal is reportedly 81.6% little than successful the aforesaid play past year.

As per the report, Dunamu’s nett net for the play is little owed to alleged virtual plus valuation losses.

Meanwhile, the study revealed that Dunamu is present moving connected uncovering ways to mitigate the effects of the recession successful the virtual assets market. An unnamed institution authoritative suggested that Dunamu is hoping to execute this by pursuing caller concern opportunities.

“We volition strive to revitalize the blockchain ecosystem and make an precocious concern environment, and bash our champion to supply innovative services based connected Dunamu’s unsocial technological capabilities,” the unnamed authoritative said.

What are your thoughts connected this story? Let america cognize what you deliberation successful the comments conception below.