The post Bithumb’s IPO now likely in 2028 after $43B mishap appeared on BitcoinEthereumNews.com.

South Korea’s cryptocurrency exchange, Bithumb, has officially pushed back its long‑awaited initial public offering (IPO) to sometime after 2028, marking yet another delay in plans that were originally aiming for a 2025 listing. This development comes after a mishap worth $43 billion. The announcement came during the company’s annual shareholders meeting in Seoul. CFO Jeong Sang-gyun said the company continues to prepare for its IPO and has signed an advisory deal with Samjong KPMG. Bithumb delays its IPO to fix internal systems and rules. Bithumb is one of the largest cryptocurrency exchanges in South Korea, so users were excited when the company first announced plans to list on the stock market in 2025. However, the exchange later pushed the IPO to 2027, but now they say it will likely happen after 2028.  Contrary to rumors of its failure, the company earned about 651 billion won ($430 million) in 2025, specifically 163.5 billion won ($108 million) after deducting sorting operation costs. Similarly, the recorded net profit was 78 billion won ($51.5 million), and the company even increased its market share to above 30%. Moreover, Bithumb added about 1.74 million new subscribers and made major changes, including switching bank partners from NH Nonghyup Bank to KB Kookmin Bank, which has the largest customer base in South Korea. Even though Bithumb is financially strong, the company still wants to work on its accounting policies, internal controls, and other rules to create a safe environment for public investors. It even signed a contract with Samjong KPMG to help Bithumb prepare for its 2028 IPO and ensure it avoids mistakes before listing on the stock market. The delay could also mean the company wants to maximize its value and attract the highest possible price and the strongest market reputation when it finally goes public.  Similarly, the IPO…

---

Filed under: News - @ April 2, 2026 1:28 am