Upbit’s Operator Reports Record Profits as Crypto Trading Soars

Dunamu, the company behind South Korea’s largest cryptocurrency exchange, Upbit, has reported its highest-ever earnings following a year of explosive growth in digital asset trading. The firm’s operating profit soared 85% year-over-year, reaching 1.19 trillion won ($811 million) in 2024, according to corporate disclosures.

Sales revenue also surged 70.5% to hit 1.73 trillion won, while net income climbed 22% to 983.8 billion won, reflecting heightened investor demand fueled by the global crypto rally.

Trump’s Pro-Crypto Stance and Fed’s Policies Drive Market Surge

The key driver behind this record-breaking performance? Market optimism surrounding US President Donald Trump’s pro-crypto policies and the Federal Reserve’s shift toward interest rate cuts.

“The earnings boost stemmed largely from increased global liquidity, driven by anticipation of Trump’s pro-digital asset policies following his election in November,” a Dunamu official explained.

Bitcoin, the world’s largest cryptocurrency, shattered records by surpassing $100,000 in December—just weeks after Trump’s victory. Although it has since pulled back slightly, trading around $87,000 as of Friday, the surge has dramatically boosted exchange activity.

South Korea’s Crypto Market Sees Unprecedented Growth

South Korea now ranks as the world’s second-largest crypto market, and Upbit has solidified its position as the fourth-largest exchange globally. The country’s investor base has also expanded significantly:

• The number of crypto investors in South Korea jumped 52% year-over-year to 9.67 million.
  
• The total value of crypto holdings surged to 105.1 trillion won.
  

With Upbit dominating local trading activity, Dunamu’s financial performance showcases how the country’s booming crypto sector continues to thrive amid global regulatory shifts and rising mainstream adoption.

As the market moves forward, all eyes will be on how Upbit and other major exchanges adapt to new policies, institutional interest, and evolving market trends in the months ahead.