Upbit Operator Dunamu Credits US Crypto Laws as Q3 Profit Jumps 300% YoY

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• Dunamu reports $165M Q3 net income, up 300% YoY.
  
• U.S. crypto regulations boost investor confidence and trading activity.
  
• Naver Financial acquisition could further strengthen Upbit’s market position.

Dunamu, the operator of South Korea’s largest cryptocurrency exchange Upbit, reported a dramatic surge in profitability for the third quarter of 2025. The company posted 239 billion won ($165 million) in net income, marking a more than 300% increase compared to the same period last year.

Strong Growth Across Key Metrics

According to filings with South Korea’s Financial Supervisory Service, Dunamu’s consolidated revenue climbed to $266 million, up 35% from the previous quarter. Operating profit rose 54% to $162 million, while net income jumped 145% quarter-over-quarter from $67 million. The company attributes this growth to heightened trading activity as digital asset markets rebounded globally in 2024 and 2025.

“Investor confidence has strengthened following recent U.S. regulatory developments,” Dunamu said. Laws such as the Genius Act, Clarity Act, and Anti-CBDC Bill have encouraged institutional participation, contributing to steadier market conditions and renewed trading momentum.

Naver Financial Acquisition on the Horizon

Dunamu’s impressive performance comes as Naver Financial, the fintech arm of South Korea’s largest internet company, prepares to acquire the exchange. The acquisition, reportedly through a share swap, is pending board approval and could make Dunamu a subsidiary of Naver Financial.

Upbit remains the largest crypto exchange in South Korea by trading volume and customer base, and this acquisition could further consolidate its market dominance.

Also Read: TOSHI Meme Coin Soars 80% After Upbit Listing—Bullish Rally Signals New Highs

Sector-Wide Momentum

Dunamu’s growth is part of a broader trend among South Korean crypto firms. Bitcoin mining companies TeraWulf and Singapore-based cloud miner BitFuFu also saw their third-quarter revenues double year-over-year. Analysts suggest that improved market sentiment and regulatory clarity are fueling these gains.

Dunamu’s Q3 surge highlights the resilience of South Korea’s crypto market despite volatility elsewhere. With strong financials and strategic moves like the Naver acquisition, the company appears well-positioned to maintain its leadership and benefit from renewed investor confidence.

Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.