Upbit is moving closer to a potential Nasdaq listing as its merger with Naver progresses. Dunamu, the operator of Upbit, reported an 85% increase in profits, bolstering its financial standing ahead of the merger. This strategic move is expected to integrate Upbit into Naver's structure, potentially facilitating its U.S. listing ambitions. Concurrently, Bithumb is restructuring its operations, heightening competition in South Korea's dynamic cryptocurrency market.