Crypto
Home›Crypto›Regulation›Bithumb targets a 2028 IPO after restructuring and con…
Bithumb targets a 2028 IPO after restructuring and control upgrades
The South Korean exchange plans to finish risk management assessments and align with domestic and international accounting standards by end-2026, then seek a preliminary listing review in 2027.
Bithumb, South Korea’s largest crypto exchange, said it is preparing for an initial public offering in 2028 after a major internal reorganization aimed at strengthening controls and adopting international accounting standards, according to CoinDesk.
The company plans to complete risk management systems assessments and meet domestic and international account standards by the end of 2026, and then apply for a preliminary listing review in 2027, with the IPO timing subject to market conditions and regulators’ reviews. Bithumb has not yet disclosed where it will list its IPO, though it previously discussed options including Nasdaq in New York and a staged path via South Korea’s Kosdaq.
Bithumb’s path to an IPO comes after regulatory scrutiny tied to an earlier operational failure, including a reported $40 billion transfer blunder that left the exchange exposed and prompted questions about internal controls. Its CEO Lee Jae-won acknowledged a deficiency in internal control, and Bithumb said it is working with domestic and international securities, law, and accounting firms on the IPO process.
Earlier in the year, Bithumb announced plans to split its core crypto trading platform business from other activities in early 2025 as part of its restructuring ahead of an IPO it had initially targeted for that same year. CoinDesk reported it reached out to Bithumb for more details about the intended listing venue but did not receive a response by press time.
Latest closeNasdaq Comp. 25,373.85 ▲1.0%