One of South Korea’s largest cryptocurrency exchanges, Bithumb, has published its first audit report, detailing its financial performance as well as crypto reserves worth approximately $6 billion kept in 12 cryptocurrencies.
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$6 Billion Worth of Coins
South Korea’s second largest cryptocurrency exchange Bithumb recently released its first public audit report.
The exchange has 220 employees and 15 shareholders, the report details. It generated 333.42 billion won (~US$312 million) in operating revenue in 2017, a significant increase compared to the previous year of 4.32 billion won (~$4.1 million). Its net profit was 534.90 billion won (~$501 million) in 2017, up sharply from 2.51 billion won (~$2.4 million) in the previous year.
The Korea Times elaborated:
The company said its crypto reserves at the end of 2017 were 6.3584 trillion won ($5.9186 billion), including 416 billion won-worth coins of its own. The figure was up nearly 220 times more than the previous year.
The report breaks down the exchange’s coin reserves. Those deposited by clients are 49,559 BTC; 583,004 ETH; 54,383 DASH; 492,897 LTC; 5,560,189 ETC; 597,627,574 XRP; 156,956 BCH; 195,728 XMR; 94,261 ZEC; 9,761,686 QTUM; 993,839 BTG; and 63,087,428 EOS. They are worth approximately 5.94 trillion won (~$5.57 billion), the report shows.
In addition, the exchange also keeps its own coins. “Seven percent of the deposited cryptocurrencies (worth 415.9 billion won) were Bithumb’s, while clients deposited the rest,” the news outlet emphasized.
Bithumb’s own holdings consist of 3,228 BTC; 24,514 BCH; 65,421 ETH; 7,847 DASH; 100,437 LTC; 387,993 ETC; 40,834,963 XRP; 10,083 XMR; 2,473 ZEC; 324,029 QTUM; 10,590 BTG; and 553,181 EOS, according to the report. The total value adds up to 415,941 million won (~$390 million).
