Upbit's parent company Dunamu saw its H1 operating revenue fall 49.1% year-over-year to $289 million, with operating profit down 79.7% to $79 million. Bithumb's H1 operating revenue dropped 48.7% to $120 million, and its operating profit plunged 83.4% to $11 million, swinging to a net loss of $77 million. The exchanges attributed the downturn to a contraction in global digital asset market liquidity and a shift of investor capital towards domestic equities, with the benchmark KOSPI more than doubling in H1 2026.