ChainCatcher news, the virtual asset exchange Bithumb announced that its operating profit for the third quarter of 2024 was 7.4 billion won (5.26 million USD), turning around from an operating loss of 650 million won in the same period last year. Revenue was 68.9 billion won (49.01 million USD), an increase of 112.7% year-on-year. The net profit for the period was 3.1 billion won, reversing from a net loss of 10.6 billion won in the same period last year.A Bithumb representative stated: "With the overall increase in attention to virtual assets, investor sentiment has recovered, and the number of virtual asset trading users has also increased, leading to improved performance."

ChainCatcher news, according to Money Today, South Korean cryptocurrency exchange Upbit operator Dunamu announced its consolidated financial results for the first quarter of this year, with operating revenue (sales) of 531.1 billion won (approximately 395 million USD), operating profit of 335.6 billion won (approximately 249 million USD), and net profit for the period of 267.4 billion won (approximately 199 million USD).In addition, operating revenue increased by 74% year-on-year, and operating profit grew by 58%. Net profit for the period decreased by 18% year-on-year. Compared to the previous quarter, operating revenue increased by 60%, operating profit rose by 39%, while net profit for the period decreased by 23%.

ChainCatcher news, South Korean cryptocurrency exchange Bithumb reported a revenue of 138.2 billion won (approximately 103 million USD) in the first quarter of this year, with an operating profit of 62.1 billion won (approximately 46 million USD).It is reported that this data represents a 172% increase in revenue and a 283% increase in operating profit compared to the same period last year. The net profit for the period was 91.9 billion won, an increase of 126% compared to the same period last year.

ChainCatcher news, according to Decenter, the Financial Supervisory Service of Korea's electronic disclosure system shows that the operator of the cryptocurrency exchange Upbit, Dunamu, reported a consolidated operating profit of 101.8 billion won (approximately 78.57 million USD) for the third quarter, a year-on-year decrease of 39.6%. The operating revenue (sales) for the third quarter of this year was 193 billion won (approximately 14.8 million USD), a year-on-year decrease of 29%; the net income was 29.5 billion won (approximately 22.77 million USD), a year-on-year decrease of 81.6%. The ongoing interest rate hikes due to the economic recession and the sluggish investment market have impacted its performance, and the decline in net profit is attributed to the decrease in cryptocurrency prices compared to the previous quarter.

ChainCatcher news, according to CoinDesk, SBF revealed during his criminal trial testimony that he started buying SOL early on at a price of $0.20 each. When asked by his lawyer about how he financed the investments, he stated that the funds came from Alameda's operating profits and third-party loans.Due to the close connection between SOL and SBF, SOL was once referred to as "Sam Coin." He and FTX made significant investments in the Solana ecosystem and heavily promoted the Solana brand before FTX's bankruptcy last November.

ChainCatcher news, the Financial Services Commission (FSC) of South Korea released the results of the virtual asset business survey for the first half of 2023, surveying 35 reporting companies (26 exchanges/traders and 9 wallets/custodians) to understand the current state of the domestic virtual asset market in South Korea. The total cryptocurrency market capitalization of the surveyed companies is 28.4 trillion won, a significant increase of 46% compared to the second half of 2022. The total operating profit is 227.3 billion won, a staggering increase of 82%, and the number of registered users is 9.5 million, a decrease of 19%.

ChainCatcher news, encrypted KOL Miles Deutscher stated on social media that Tether currently holds more U.S. Treasury bonds than Australia, the UAE, and Spain combined. In addition, Tether's operating profit for the second quarter exceeded $1 billion. Meanwhile, the world's largest asset management company, BlackRock, reported an operating profit of around $1.6 billion this quarter.Previous report, on July 31, the stablecoin issuer Tether released the assurance opinion report for Q2 2023 completed by the independent accounting firm BDO. Tether revealed that its excess reserves increased by approximately $850 million, bringing the total excess reserves to about $3.3 billion by the end of Q2.

ChainCatcher news, Tether released the assurance opinion for the second quarter of 2023 completed by the independent accounting firm BDO, detailing the assets held by Tether as of June 30, 2023. Tether revealed that its excess reserves increased by approximately $850 million, bringing the total excess reserves to about $3.3 billion by the end of the second quarter.Tether's excess reserves are the company's own profits, not distributed to shareholders, and the company has decided to keep them above the 100% reserves maintained by Tether to support all outstanding tokens. Additionally, from April 2023 to June 2023, Tether's operating profit exceeded $1 billion, a 30% increase quarter-over-quarter. Tether's overall exposure to U.S. Treasury Bills (US T-Bills) is approximately $72.5 billion.As of June 30, 2023, Tether's consolidated total assets were at least $86,499,251,218, with total consolidated liabilities of $83,200,775,340, of which $83,178,020,411 were related to issued digital tokens, and the consolidated assets exceeded its consolidated liabilities.

ChainCatcher news, the latest quarterly report released by Dunamu, the operator of the South Korean cryptocurrency exchange Upbit, shows that the consolidated operating revenue (sales) for the first quarter of 2023 was 304.8 billion won (approximately 231 million USD), a decrease of 28.6% compared to the same period last year; operating profit was 211.9 billion won (approximately 160 million USD), down 26.3% from the previous year (287.8 billion won); net profit was 326.3 billion won (2.47 million USD), an increase of 54.9% year-on-year. (source link)

ChainCatcher news, USDT issuer Tether announced that starting this month, it will regularly allocate up to 15% of its realized net operating profits to purchase Bitcoin. Tether expects that the current and future Bitcoin holdings in its reserves will not exceed the shareholder capital buffer and will further strengthen and diversify its reserves.As of the end of March 2023, Tether has approximately $1.5 billion in Bitcoin in its reserves. (source link)

ChainCatcher news, according to Digital Asset, South Korean cryptocurrency exchange Bithumb reported an operating profit of 16.2 billion won (approximately 12.11 million USD) for the first quarter of 2023, a year-on-year decrease of 80%; sales were 50.7 billion won (approximately 37.886 million USD), a year-on-year decrease of 60%; net profit reached 40.6 billion won (approximately 30.34 million USD) due to the rise in cryptocurrency asset prices. (source link)

ChainCatcher news, according to Zdnet, the latest report released by Dunamu, the operator of the South Korean cryptocurrency exchange Upbit, shows that its revenue for the third quarter of 2022 was 271.9 billion won (approximately 205 million USD), a year-on-year decrease of 66.3%; operating profit was 168.7 billion won (approximately 127 million USD), a year-on-year decrease of 76.6%; and net profit was 159.9 billion won (approximately 121 million USD), a year-on-year decrease of 72.7%.It is reported that compared to the second quarter, Dunamu's operating revenue and operating profit decreased by 24.1% and 39.3%, respectively. The company stated that factors such as the ongoing decline in global liquidity and the overall contraction of the capital market have impacted its performance. (source link)