✨ Upbit Salaries Soar by 124%
posted 19 Aug 2024
According to the Financial Supervisory Service (FSS), the average annual salary for employees and executives at the South Korean cryptocurrency exchange Upbit now exceeds that of employees at the country’s major banks: $99,500 compared to $86,700. This marks a 124% increase over the past year.
At the beginning of 2023, the average salary at Dunamu, which operates the Upbit crypto exchange, was only $44,100. However, bolstered by the cryptocurrency market's growth, Dunamu's operating income in the first quarter of the current year increased by 60.5% compared to the same period in the previous year.
In light of these gains, management likely decided to issue significant bonuses to employees for their high performance. Cryptocurrency saw a major surge after January 2024, following the U.S. SEC's approval of a spot Bitcoin ETF.
Just two months later, Bitcoin soared to $70,000. Around the same time, Upbit recorded a new daily trading volume of $15 billion—fifteen times its usual figures. It's noteworthy that prices on South Korean exchanges are typically higher than on other global platforms (Binance, Coinbase, WhiteBIT).
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