Bithumb Postpones IPO Plans to 2028 Amid Tightened Regulatory Scrutiny

Cryptocurrency exchange Bithumb has postponed its initial public offering (IPO) until 2028 due to an "internal review" and strengthened control measures. This was announced by the company's CFO, Chon San Gyeon, according to local media reports.

It should be noted that information about Bithumb's intention to go public in the U.S. stock market surfaced in September 2024. In April 2025, these reports were confirmed, but the company stated that it plans to restructure before the IPO.

The exchange was expected to list its shares publicly in 2027. However, according to San Gyeon, the schedule had to be shifted:

"Currently, we are preparing to strengthen our accounting policies and internal controls, and since we aim to be the first in the industry [in South Korea] to list, we are conducting a thorough internal review."

According to the company representative, the listing is likely to take place in 2028 or even later. However, the exchange does not plan to abandon this goal.

One of the reasons, according to San Gyeon, is the framework bill on the crypto market, which is expected to be passed in the country in the second half of 2026.

At the shareholders' meeting, issues of dividend payments and recent incidents, including the mistaken distribution of Bitcoin, were also raised. In response, CEO Lee Jae-won attempted to reassure stakeholders and pointed out the growth in performance in 2025.

It should be noted that during the investigation, South Korean authorities discovered multiple violations in Bithumb's operations and fined the company. The CEO of the exchange mentioned that the management is considering various options to overcome the crisis situation and maintain competitiveness, including merging or selling.

See also: "Tether Gold launches on BNB Chain, expanding access to tokenized gold"

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