Bithumb Rebounds: After Challenging Past, Exchange Posts Surprising Profits & Eyes U.S. IPO

The South Korean crypto exchange Bithumb experienced a dramatic turnaround in 2024, achieving $110 million in net profits and navigating a challenging history marked by security breaches, legal battles, and regulatory scrutiny. The recent surge is attributed to a robust market rally fueled by the growing demand for Bitcoin from institutional investors and the expansion of DeFi applications.