Dunamu, the operator of South Korean crypto exchange Upbit, reported weaker results for the second quarter of 2026. The company posted revenue of 173.5 billion won, or about $123 million, and operating profit of 23.5 billion won, or about $16.65 million. Compared with the first quarter, revenue fell about 26% and operating profit dropped about 73%.
For reference, Dunamu recorded first-quarter revenue of 234.6 billion won, or about $166 million, and operating profit of 88 billion won, or about $62.34 million. The company said the decline in second-quarter performance was mainly tied to a broader contraction in global digital asset market liquidity. It added that investor sentiment weakened as a result.
The latest figures point to a sharp slowdown from the previous quarter, with profitability taking a much bigger hit than revenue. Dunamu attributed that pressure to market conditions rather than to a company-specific factor.
Dunamu, the operator of Upbit, reported its financial results for the second quarter of 2026 on Aug. 14.
The company posted quarterly revenue of 173.5 billion won, or about $123 million, and operating profit of 23.5 billion won, or about $16.65 million. Those figures were down about 26% and 73%, respectively, from the first quarter.
In the first quarter, Dunamu recorded revenue of 234.6 billion won, or about $166 million, and operating profit of 88 billion won, or about $62.34 million.
Dunamu said the weaker second-quarter performance was mainly caused by a broader contraction in liquidity across the global digital asset market. It said investor sentiment also softened as a result.
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