Upbit operator Dunamu posts $165M in profit in Q3, up over 300% YoY

November 16, 2025admin

Upbit operator Dunamu has reported a significant surge in profitability for the third quarter of the year, posting a net income of 239 billion won ($165 million). This figure marks an increase of more than 300% compared to the same period last year, which stood at $40 million, according to local news outlet Chosun Biz, citing regulatory filings with the Financial Supervisory Service.

The filings revealed strong momentum across all key financial metrics. Consolidated revenue climbed to $266 million, up 35% from the previous quarter, while operating profit rose 54% to $162 million. Net income also jumped 145% quarter-over-quarter from $67 million.

Dunamu attributed its improved performance to rising trading activity as global digital asset markets rebounded throughout 2024 and 2025.

### Dunamu Credits US Crypto Legislation for Boost

The company highlighted that investor confidence received a notable boost following regulatory developments in the United States, including the passage of the Genius Act, the Clarity Act, and the Anti-CBDC Bill. According to Dunamu, these regulatory measures contributed to renewed institutional participation and steadier market conditions.

Since 2022, Dunamu has faced heightened reporting requirements after being added to the list of corporations subject to external audits due to having more than 500 shareholders.

### Rising Revenues Among Major Crypto Firms

Notably, several major crypto firms also experienced revenue increases last quarter. Bitcoin mining company TeraWulf and Singapore-based cloud Bitcoin miner BitFuFu both doubled their third-quarter revenues compared to the previous year.

### Naver Financial to Acquire Dunamu

In related news, Naver Financial, the fintech arm of South Korea’s largest internet company, is preparing to acquire Dunamu. Naver plans to bring Dunamu in as a subsidiary through a share swap, with board approvals expected soon.

Upbit Korea remains the largest crypto exchange in South Korea by trading volume and customer base, according to data from CoinMarketCap.
https://cointelegraph.com/news/dunamu-upbit-q3-profit-300-percent-surge-2025

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Upbit operator Dunamu posts $165M in profit in Q3, up over 300% YoY