Upbit's parent company Dunamu's profit surged 85% and announced a three-fold increase in shareholder dividends

Odaily Planet Daily News: After achieving an 85.1% year-on-year increase in operating profit in 2024, Upbit's parent company Dunamu announced that it would triple its cash dividends to common shareholders, with a total dividend amount of nearly 300 billion won (about 204.5 million US dollars). Dunamu approved the financial report at the shareholders' meeting, with a dividend of 8,777 won per share (about 5.99 US dollars), a significant increase from 2,937 won per share (about 2 US dollars) last year. The company's operating profit in 2024 reached 1.18 trillion won (about 809 million US dollars), and its net profit increased by 22.2% year-on-year to 983.8 billion won (about 671 million US dollars). Dunamu said that the performance growth benefited from the halving of Bitcoin, positive market sentiment, and the expansion of global liquidity and expectations of interest rate cuts after Trump's election as president. However, Upbit has also faced regulatory pressure recently, and was investigated by the South Korean Financial Intelligence Agency for suspected cooperation with unregistered overseas exchanges and KYC violations. (The Block)