Home / Crypto News / It is reported that the profit of 2018 for Binance (Binance) was $ 450 million

It is reported that the profit of 2018 for Binance (Binance) was $ 450 million

Around the time that the market called winter in cryptocurrency continues, The Block reported that Binance (Binance) , the world’s largest cryptocurrency exchange, had about $ 450 million in profits in 2018 (about 49.4 billion yen) .

Mr. Chanpeng Zhao, CEO of the exchange in July 2018, told Bloomberg that “2018 profit will reach at least 500 million dollars at the lowest, up to 1 billion dollars” It was reported.

Mr. CZ recalls that it was a tough year for the exchange as represented by the Bitcoin losing 80% of its value. Also, hacking incidents and regulatory news became a negative material for the cryptocurrency exchange.

The Block, who deals with cryptocurrency analysis, has released a report on Binance last year’s profit. These numbers are not the ones published by Binance, but they are figures calculated independently by The Block.

The Block explains how to calculate numerical values ​​as follows.

Binance uses 20% of net profit for BNB’s purchase, so if they are doing this as a white paper, Binance’s profit will be five times this.”

Although we did not reach CZ’s expected $ 500 million profit a bit, Binance’s 2018 profit totaled $ 446 million.

As a breakdown of $ 466 million, Q1 (first quarter) is 150 million dollars, Q2 is 16 million dollars, Q3 and Q4 are 80.9 million dollars, 49.6 million dollars, respectively. There is no difference that it is making a huge profit, but Q4 can be said that it was a tough period for Binance.

However, considering the figure of 201 million Q4’s 200 million dollars, the company’s profit is falling to the right. Attention is gathered in how Binance will go around in the prolonging bare market.

Article Source: The Block, Bloomberg


Although the digit is dangerous, after all Binance has fallen to the right from the end of 2017,

Author: kaz 【Coin Desk News】 – Source Post: https://crypto-times.jp/Binance-raised-446-million-in-2018/

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