Bithumb, a cryptocurrency exchange, is planning to have an initial public offering (IPO) on the Korean Securities Dealers Automated Quotations (KOSDAQ) and aims to become the leading digital asset exchange in Korea. The company has begun preparations for the listing, including hiring staff and partnering with traditional firms. The expected year for the listing is 2025, with the goal of increasing trading volume and expanding into wider markets. To strengthen its management team, the largest shareholder and former Chairman, Lee Jeong-hoon, has returned to the board of directors. While Bithumb has not confirmed the IPO plans, it has appointed an underwriter, Samsung Securities. The company aims to build public trust in the crypto market by engaging external validators and hopes that the IPO will attract institutional investors and boost confidence among retail investors. The CEO of Bithumb Holdings, Jaewon Lee, will also serve as the Chief Executive of Bithumb Korea. Bithumb's ultimate objective is to surpass Upbit as the top-rated exchange in Korea and gain wider exposure and financial support. However, it is worth noting that the success of a public listing, as seen with Coinbase, is influenced by various market factors. Upbit currently enjoys a strong position in the Korean market, with significant trading volumes and growth in the Asian markets.
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