Bithumb Holdings, the parent company of South Korean cryptocurrency exchange Bithumb, has appointed Kim Ki-bum, former head of external affairs at Bithumb, as its new CEO. Bithumb Holdings is the largest shareholder of Bithumb with a 73% stake.
According to virtual asset industry sources on September 9, Bithumb Holdings recently held a board meeting and approved the appointment of Kim as its new CEO. News of the appointment first emerged on September 8.
Kim has built his career in the legal and external affairs fields. He served as head of the legal team at Itembay and as a director of the legal and external affairs division at IMI before taking on the role of head of external affairs at Bithumb in 2023. He is known to have handled external affairs and legal work at Bithumb since 2017.
IMI, where Kim previously worked, was founded by Bithumb founder and former chairman Lee Jung-hoon. As a result, Kim is regarded as one of Lee’s closest associates.
CEO Role Split to Focus on Exchange Management
Lee Jae-won, who had been serving concurrently as CEO of both Bithumb Holdings and Bithumb, will step down from the holding company position under this reshuffle and focus solely on managing Bithumb. The move is intended to enable more agile responses to the institutionalization of the virtual asset market and changes in the regulatory environment.
A Bithumb Holdings official said, “New CEO Kim Ki-bum has led the organization’s legal risk management and external policy responses based on his deep expertise in legal and external affairs.” The official added, “Kim plans to strengthen internal and external communications and compliance management in step with the advancement of the virtual asset market and regulations, driving Bithumb Holdings’ sustainable growth.”
With this reshuffle, the company has established a structure in which Lee Jae-won focuses on exchange operations while new CEO Kim concentrates on holding company-level communications and compliance management.
Strengthening Regulatory Response Framework
As the regulatory environment surrounding the virtual asset market changes rapidly, Bithumb Holdings’ decision to install a legal and external affairs expert at the helm is seen as an effort to strengthen risk management and policy response capabilities at the holding company level.
Given that new CEO Kim is a close associate of former chairman Lee Jung-hoon, some observers suggest the appointment could influence Bithumb Holdings’ future governance structure and management strategy. However, the company has explained the purpose of the reshuffle as strengthening regulatory response and compliance management.
Source: https://finance.biggo.com/news/d16f21a8-d7d1-487c-ac48-12324fb1a28a