Bithumb's IPO Date Just Got Even More Ambitious: Post-2028 It Is

Bithumb is pushing its IPO timeline yet again — this time targeting sometime after 2028, according to a Tuesday report from Maeil Business News Korea. Because nothing says "investor confidence" quite like a deadline that reads like a fever dream.

The South Korean exchange plans to "focus on preparing for the listing until 2027," said CFO Jeong Sang-gyun at the company's annual shareholder meeting. Bithumb is currently "strengthening accounting policies and internal controls" following an IPO advisory contract with Samjong KPMG. That's right, they're just gonna keep busy for the next three years polishing those spreadsheets. Very normal. Very fine.

This marks another delay for Bithumb, which originally aimed for a 2025 listing. Shareholders reconfirmed CEO Lee Jae-won for a two-year appointment at the Tuesday meeting. From 2025 to "sometime after 2028" — the man is playing 4D chess with timelines while the rest of us are still trying to figure out when the next halving happens.

Under Lee's leadership, the exchange previously faced a six-month suspension and a $24 million fine from South Korean authorities for alleged anti-money-laundering violations. Nothing like a little regulatory love tap to really make you appreciate the journey to going public.

Meanwhile, Dunamu — the operator of Upbit — is reportedly planning its own IPO following a share swap with Naver Financial, expected in September. While Bithumb