Upbit, Bithumb crypto holdings lose value amid market slump

The slump in the cryptocurrency market this year has sharply reduced the value of digital assets held by South Korea’s major exchanges Upbit and Bithumb, Yonhap News TV reported. According to filings with South Korea’s Financial Supervisory Service as of today, the fair value of virtual assets held by Dunamu, the operator of South Korean exchange Upbit, stood at 1.3779 trillion won ($991.4 million) at the end of the first half, down 39.6% from 2.285 trillion won ($1.64 billion) at the end of last year. The value of virtual assets held by South Korean exchange Bithumb also fell 30.5% from the end of last year to 194.1 billion won ($139.7 million) at the end of the first half.