Crypto exchange Binance increases Profits by 66%

Spacerawwrr
By April 16, 2019 17:34

CEO Binance Changpeng Zhao - Coinconomist_1

The large cryptocurrency exchange Binance announced a profit of 78 million dollars in the first quarter of 2019 and this is 66% more compared to the previous quarter, informs The Block on April 16.

According to the report for the first quarter of this year, the 830,000 burned-out BNBs represent 20% of the net profit of the exchange. The Block points out that this makes it easy to deduct company profits, although Binance does not publish financial statements. Also, the report indicates that last year the company received about $ 47 million of net profit.

Binance Coin, according to CoinMarketCap, is the seventh largest cryptocurrency with a market capitalization that reported a loss of almost 1.5% per day. According to a Binance blog post, the company lost 5.82% of BNB supply so far.

Read also – BitMEX does not plan to add new cryptocurrencies

Subscribe to our Telegram channel (Russian) and Twitter (English) to be aware of the latest news.

Spacerawwrr
By April 16, 2019 17:34