Bithumb Q2 operating profit falls 44% from a year earlier

South Korean crypto exchange Bithumb announced second-quarter revenue of 86.3 billion won and operating profit of 12.1 billion won. Revenue fell 35.8% from 134.4 billion won a year earlier, while operating profit dropped 44.0% from 21.5 billion won. Net results swung to a loss of 21.8 billion won from a profit of 22.0 billion won. Bithumb attributed the decline to a prolonged hawkish U.S. rate stance and a shift in investor interest at home and abroad toward the stock market, including AI and semiconductor shares.