[Alpha Biz=(Chicago) Reporter Paul Lee] Bithumb, a virtual asset (cryptocurrency) exchange, is promoting IPO for the first time in the industry.

According to the virtual asset industry on the 14th, Bithumb selected Samsung Securities as the organizer at the end of last month and began working on IPO.

"We expect the listing target to be in the second half of 2025," a Bithumb official said. "We have not yet decided whether it is listed on the KOSDAQ or on the KOSPI. We may change the target market target depending on the situation."

Bithumb not only improved the image of the external exchange for IPO, but also recently carried out internal cleanup. According to Bithumb, Lee Jung-hoon, former chairman of the board of directors of Bithumb Korea and Bithumb Holdings, has returned as a registered director of Bithumb Holdings in line with the IPO drive.

On the other hand, Lee Sang-joon, CEO of Bithumb Holdings, who is suspected of soliciting a coin listing, was excluded from the board of directors as former chairman Lee was listed as a registered director. A Bithumb official said, "We decided that it was too much to conduct board activities during the trial," but the industry believes the decision is to eliminate legal risks as much as possible for the IPO.

Lee Jae-won, CEO of Bithumb Korea, also serves as the CEO of Bithumb Holdings.

 

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