Connect with us

News

Bithumb Audit Report Reveals the Reserve has a Worth of $6 Billion in 12 Cryptocurrencies

Published

on

Bithumb, South Korea’s second largest cryptocurrency exchange recently released its first public audit report. The audit report gives details of the exchange’s financial performance as it reveals that the exchange currently has a reserve worth approximately $6 billion kept in 12 cryptocurrencies.
The report shows that Bithumb is worth approximately 5.94 trillion won (~$5.57 billion). The exchange’s coin reserves are broken down thus;
Deposit by clients: 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.
Bithumb’s holdings: 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. The report gives the total worth of value to be up to 415,941 million won (~$390 million).
Bithumb, whose business has experience quite a growth this year was reportedly launching a social media-based P2P payment system. It has also partnered with Wincube to sell 12,500 kinds of mobile vouchers from 600 brands through gift certificates.
The report indicates the exchange has 220 employees and 15 shareholders, the report details. Bithumb has experience a growth in its 2017 operating revenue of 333.42 billion won (~US$312 million) from its 2016 worth of 4.32 billion won (~$4.1 million).
Bithumb has long held the title of South Korea’s largest cryptocurrency exchange until Kakao-backed cryptocurrency exchange Upbit came onboard. While Upbit has a 24- hour trading volume of $1.715 billion Bithumb has a trading volume of $468 million.
We will like to know your opinion of Bithumb’s crypto holdings in the comment section below.

Click to comment

What's Your Opinion? Please Leave a Comment

Trending

ALL Sections