-1.51% Bitcoin (BTC) 89623 EUR
-3.41% Ethereum (ETH) 2040.16 EUR
-4.97% Litecoin (LTC) 70.04 EUR
+0.86% B-Cash (BCH) 436.73 EUR
-1.89% Ethereum (ETH) 0.0229876 BTC
-3.57% Litecoin (LTC) 0.00078982 BTC
+2.11% B-Cash (BCH) 0.00487527 BTC
-1.40% Bitcoin (BTC) 106813.6206 USDC
-0.09% USD Coin (USDC) 0.84 EUR
-4.74% Chainlink (LINK) 10.97 EUR
-2.96% Chainlink (LINK) 0.00012265 BTC
-5.07% Dogecoin (DOGE) 0.13 EUR
-3.22% Dogecoin (DOGE) 0.0000015 BTC
-4.17% Uniswap (UNI) 5.87 EUR
-2.53% Uniswap (UNI) 0.00006575 BTC
-6.09% Cardano (ADA) 0.46 EUR
-4.61% Cardano (ADA) 0.00000517 BTC
-0.45% Tron (TRX) 0.23 EUR
+1.14% Tron (TRX) 0.00000266 BTC
-2.44% Shiba Inu (SHIB) 0.00000956 EUR
-4.16% Zcash (ZEC) 31.59 EUR
0.00% Zcash (ZEC) 0.0004242 BTC
0.00% TradeFlow (TFLOW) 0.12216892 BUSD
-4.03% Arbitrum (ARB) 0.3272 USDC
-4.35% Chainlink (LINK) 12.83 USD
-4.46% Chainlink (LINK) 12.82143 USDC
-3.65% Uniswap (UNI) 6.878 USDC
-4.62% Ondo (ONDO) 0.62 EUR
-4.29% Ondo (ONDO) 0.73829 USDC
-6.12% Gala (GALA) 0.01 EUR
-5.76% Gala (GALA) 0.01341 USDC
-1.14% Wormhole Token (W) 0.06 EUR
-1.25% Wormhole Token (W) 0.0708 USDC
-3.87% Chiliz (CHZ) 0.02 EUR
-3.63% Chiliz (CHZ) 0.03392 USDC
-4.37% Sand (SAND) 0.19 EUR
-3.96% Sand (SAND) 0.2324 USDC
-4.58% Aave (AAVE) 222.3 EUR
-4.32% Aave (AAVE) 262.13 USDC
-5.03% Curve DAO (CRV) 0.42 EUR
-5.03% Curve DAO (CRV) 0.5009 USDC
-4.58% Immutable X (IMX) 0.35 EUR
-3.87% Immutable X (IMX) 0.4263 USDC
0.00% Skale (SKL) 0.07 USDC
-7.53% Beam (BEAM) 0 EUR
-7.13% Beam (BEAM) 0.00535 USDC
0.00% Axelar (AXL) 1.05 USDC
-1.67% Livepeer Token (LPT) 5.14 EUR
-1.11% Livepeer Token (LPT) 6.056 USDC
-6.36% Compound (COMP) 35.45 EUR
-6.23% Compound (COMP) 41.82 USDC
-5.60% Coti (COTI) 0.04 EUR
-4.79% Coti (COTI) 0.0496 USDC
0.00% Portal (PORTAL) 1.1 USDC
-4.50% Sushi (SUSHI) 0.49 EUR
-3.92% Sushi (SUSHI) 0.5797 USDC
-5.95% Pepe (PEPE) 0 EUR
-5.87% Pepe (PEPE) 0.0000093 USDC
-5.97% Optimism (OP) 0.45 EUR
0.00% Polygon (MATIC) 0.2 EUR
-6.21% Solana (SOL) 125.34 EUR
-4.94% Solana (SOL) 0.0013906 BTC
-3.70% Solana (SOL) 0.060841 ETH
-0.13% USD Coin (USDC) 0.72 GBP
0.00% USD Coin (USDC) 1 USDT
0.00% USD Coin (USDC) 145.58 JPY

FTX revenue reportedly grew 1000% in one year, leaked documents reveal

08-22-2022

FTX was among the many crypto exchanges with a front-row seat to witness the crypto hype of 2021, back when Bitcoin (BTC) and other cryptocurrencies hit their all-time highs. Driven by massive customer onboarding, partnerships, sponsorships and other factors, FTX’s revenue reportedly grew 1000% in 2021 — revealed internal documents.

 

Audited financials of FY 2020-2021 show FTX witnessing a 1000% increase in revenue — growing from $90 million in 2020 to $1.2 billion in 2021, claimed CNBC alleging access to the documents.

 

The revenue breakdown discloses a 1842.85% increase in operating income for FTX, from $14 million to $272 million in one year. The crypto exchange amassed $388 million in net income, a 2182.35% increase from last year’s $17 million.

 

FTX has reportedly made $270 million in the first quarter of 2022. However, the exchange’s track record during the crypto winter is yet to be revealed. Despite the stellar first quarter performance, the ongoing crypto winter has most likely impacted the growth trajectory owing to numerous market crashes.

 

The report further claims that FTX possessed $2.5 billion in cash by the end of 2021 with a profit margin of 27%. FTX has not yet responded to Cointelegraph’s request for comment. Binance CEO Changpeng “CZ” Zhao recently raised concerns about jitters, a phenomenon wherein an existing trade order gets postponed to allow the completion of newer trades.

 

While CZ did not explicitly target any particular exchange during the discussion, the crypto community on Twitter assumed it was aimed at FTX. “All of you guys knew and didn't say anything. We need to fight the bad players,” he added.

 

Source: Cointelegraph