Bithumb Restructures, XRP Takes a Hit: South Korea’s Crypto Exchange Makes Major Moves

South Korean crypto exchange Bithumb announced a significant corporate restructuring this week, separating its non-digital currency operations into a new entity. This move aims to minimize risk across its various business lines and prepare for an anticipated initial public offering (IPO) in Q3 2025. The announcement triggered fluctuations in the XRP market, which saw a decline of approximately 2% against the won in just 24 hours.