Korean
CEX Like upbit and bithumb losing the position .
2. As Capital Flows Out, Fees Flow With It :
The main reason Korean investors move funds to foreign CEXs is the gap in investment opportunities.
Domestic CEXs face strict regulations that limit them to spot trading. Foreign CEXs fill this gap with diverse options including leveraged derivatives.
The problem extends beyond capital outflows. When trading happens overseas, fee revenue goes overseas too.
Based on this yearโs outflow data, estimated fee revenues for each CEX are as follows:
๐Binance at 2.73 trillion won,
๐Bybit at 1.12 trillion won,
๐OKX at 580 billion won,
๐Bitget at 270 billion won, and
๐Huobi at 70 billion won.
These five foreign CEXs earned an estimated 4.77 trillion won (โ $3.36 billion) in fee revenue from Korean investors.
This is 2.7 times the combined operating revenue of Koreaโs top five domestic CEXs (Upbit, Bithumb, Coinone, Korbit, and Gopax) last year, which totaled 1.78 trillion won.
This goes beyond simple capital outflows. The profit structure of Koreaโs crypto industry itself is shifting overseas.
#Koreanexchange #losing