South Korean cryptocurrency exchanges are struggling with the ongoing market dip as two of the major local players, Upbit and Bithumb, reported a massive decline in sales and profits in the first half of 2022.
The data from South Korea’s Financial Supervisory Service (FSS) show that the sales of Dunamu, the operator of Upbit, came in at 785 billion won (nearly $586 million) in the six months, which was a yearly decline of 61.3 percent.
The net profit of the exchange, which happens to be the largest crypto trading platform
