Upbit operator Dunamu donates $68,000 in bitcoin to support Korean Olympic athletes

Sunghoon of ENHYPEN, left, promotional ambassador for the Korean Sport & Olympic Committee and officials from Upbit and the committee pose at Korea House for the 2026 Milan Cortina Olympics in Milan, Italy, Thursday (local time). Yonhap

Dunamu, operator of Korea’s largest crypto exchange Upbit, donated 100 million won ($68,000) in bitcoin to support Korean athletes at the 2026 Milan Cortina Olympics, the firm said Friday. The donation comes amid the growing role of digital assets in sports sponsorship.

Dunamu said it made the donation to the Korean Sport & Olympic Committee to help boost morale for the national team and contribute to the long-term development of Korea’s winter sports.

The donation was delivered Wednesday at 6 p.m. (local time) in Milan, one of the host cities for the upcoming Games.

The donation ceremony was attended by Sunghoon of K-pop group ENHYPEN, a former figure skater who currently serves as a promotional ambassador for the committee.

As part of its Olympic partnership, Dunamu plans to roll out a series of promotional campaigns during the Games from Friday to Feb. 22.

These include sending messages of support to all 71 Korean athletes and hosting Olympic-themed events through the Upbit app.

The donation follows Dunamu’s broader sponsorship agreement with the committee signed in October last year, under which the company will serve as an official partner through December 2028.

“Competing on the world’s biggest stage, the passion of our national athletes as they push beyond their limits closely mirrors the spirit of innovation that Dunamu pursues,” Dunamu said.

“We wanted to deliver our support through bitcoin, one of the most innovative assets, so that the athletes’ dedication leads to meaningful results and Korea’s winter sports can continue to grow.”