Dunamu reports tripled income, wins court backing for its decision to remove GoMoney2

The wind has been favorable for Dunamu said to be working on Nasdaq IPO of its cryptocurrency exchange Upbit as it reported tripled bottom line last year while a court backed its decision to kick out GoMoney2 (GOM2) tokens of AnimalGo, a blockchain-based pet services platform, from its exchange for false disclosure.

According to its audit report disclosed on Wednesday, Dunamu posted an operating profit of 86.6 billion won ($77.36 million), up 105 percent on year. Its revenue came to 176 billion won, adding 26 percent against a year ago while net profit tripled to 47.7 billion won. Its cash equivalents also climbed 234 percent to reach 1.07 trillion won, compared with 320 billion won a year ago.

Upbit is ranked amongst the top three in the world in 24-hour trading volume. Dunamu is said to be tilted towards Nasdaq IPO after U.S.-based exchange Coinbase’s successful debut.

Meanwhile, the court sided with Dunamu for removing GoMoney2 after U.S.-based cryptocurrency lender Celsius Network denied AnimalGo’s claim of agreeing to funding.

AnimalGo filed for a court stay on the move, but the court found Dunamu’s decision just to protect investors.

Upbit promised to stricter disclosure system.

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