TechFlow News: South Korean virtual asset exchange Bithumb has reported its second-quarter results, posting an operating loss of 3.442 billion KRW, a significant decline from the 38.42 billion KRW profit recorded during the same period last year.
Bithumb's second-quarter sales revenue dropped 60% year-on-year to 31.993 billion KRW, with a net loss of 8.583 billion KRW.
The performance downturn was primarily driven by reduced trading volume, leading to lower commission income. Bithumb is currently offering zero-fee trading on 30 crypto assets to stimulate trading activity.
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