Prices for the main virtual currency fell sharply. For example, the main cryptocurrency Bitcoin December 2017 has lost more than 80 percent. However, as during a telephone interview with CNBC said financial Director Binance Wei Zhou, the exchange fails to turn a profit, despite the significant collapse of CryptoRandom. According to him, the company does not disclose its financial data, but the media still publish estimates based on publicly available metrics.
According to a report by industry publication The Block, Binance profit for last year amounted to 446 million dollars. This statistic is based on how much net profit exchange spent on buying back its own token BNB. CEO of crypto currency exchange Chanpen Zhao in July, told Bloomberg that in 2018 Binance is aiming for a net profit of 500 million to a billion dollars.
At the moment Binance is the largest crypto currency exchange in the world, even despite the significant decline in trading volumes at the end of 2017. The daily volume of transactions on the stock exchange reaches $ 500 million. The company exists only from 2017, but this did not prevent her to occupy a dominant position in this emerging sector. While ICO the exchange managed to attract $ 15 million investment.
Financial officer Wei Zhou Binance hired in September 2018. Previously, he has worked on the Chinese stock exchange vacancies Zhaopin and television advertising company, Charm Communications. For both companies, he successfully launched the IPO. In addition, behind him a wide experience in the procedure of mergers and acquisitions in different industries. On the question of the possibility of carrying out IPO of the exchange Binance Zhou replied that it was not included in immediate plans.
More data look at cryptodata. Also look into the rating of the cryptocurrencyin time to see the end of the bearish trend.
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