Bithumb Delays IPO Timeline Amid Regulatory Challenges
Korean crypto exchange Bithumb has pushed its initial public offering (IPO) timeline past 2028, citing ongoing work to strengthen accounting policies and internal controls. The delay comes after regulatory setbacks for the company. CFO Jeong Sang-gyun told shareholders that Bithumb would 'focus on preparing for the listing until 2027.'
The exchange has been working with advisory firm Samjong KPMG on its IPO preparation, which was originally planned for 2025. The delay extends a timeline that had already slipped from its initial target date.
Bithumb faced significant challenges under CEO Lee Jae-won's tenure, including a six-month operational suspension and a $24 million fine from South Korean regulators over alleged Anti-Money Laundering violations.