Dunamu Denies Reports of Plan to List Upbit in the US in 2025

02/22/2023 05:57 • AI & Tech Insights • 99 views

On February 22, Dunamu, the operator of Upbit of the Korean Cryptographic Exchange, said that the reports of several media in the country about its “plan to go to the United States for listing in 2025” were untrue. （Money Today）

Dunamu, the Upbit operator, denied the report of “planning to go public in the United States in 2025”

Interpretation of the news:

Dunamu, the operator of Upbit, one of Korea’s largest cryptographic exchanges, has dismissed reports in the media suggesting that it was planning to list the platform in the United States by the year 2025. In a statement issued on February 22nd, the company declared that such reports were outright false and had no basis in fact.

The reports had indicated that Dunamu was actively pursuing a strategy to expand its market share in the United States and was exploring options to achieve this through a public listing on a major US stock exchange. The sources cited in the reports had suggested that the plan was being formulated with a view to going public within the next four years, aimed at capitalizing on the growing interest in cryptocurrencies and blockchain technology within the US investment community.

However, Dunamu’s statement presents a different perspective. According to the company, it has no immediate plans for such a move, and any reports to the contrary are merely speculative. In clarifying this position, Dunamu seeks to reassure its customers and stakeholders that its focus remains on maintaining and expanding its presence in the Korean market, where it remains a dominant player.

The statement may also have been motivated by a desire to manage market expectations, given the current regulatory environment surrounding the cryptocurrency industry. The Korean government has been considering a range of measures to regulate the industry, including imposing stricter rules on exchanges and tightening controls on trading activities. A move to list Upbit in the US could be seen as a departure from Dunamu’s commitment to adhering to Korean regulations, which in turn could prove problematic for the company.

In conclusion, Dunamu’s denial of plans to list Upbit in the US in 2025 appears to be a move aimed at managing market expectations, rather than a reflection of any significant change in the company’s long-term strategy. By reaffirming its commitment to the Korean market, Dunamu seeks to reassure its customers and stakeholders and to maintain its position as a leading player in the domestic cryptocurrency industry.

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Dunamu Denies Reports of Plan to List Upbit in the US in 2025

Dunamu, the Upbit operator, denied the report of “planning to go public in the United States in 2025”

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