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Coinbase’s Nasdaq Listing Fuels Frenzy in Korean Crypto Stocks

  • Hanwha Investment, a holder of Dunamu, has more than tripled
  • Dunamu operates the leading South Korean crypto exchange Upbit
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Coinbase Quarterly Profits Soar Ahead of Direct Listing

The upcoming Nasdaq listing of Coinbase Global Inc. has fueled a frenzy among Korea investors to pile into the nation’s cryptocurrency stocks, making a broker with a minority stake in a local crypto exchange the best-performing large stock year-to-date.

Hanwha Investment & Securities Co. has gained more than 210% so far this year, the best performance among Kospi stocks with more than $1 billion in market value. The brokerage owns a 6.15% stake in Dunamu, which operates the leading South Korean crypto exchange Upbit, according to its regulatory filing in February.