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Media: FTX exchange surpasses $1 billion in revenue in 2021

The revenue of the FTX cryptocurrency exchange exceeded $1 billion in 2021, which is nearly 10 times more than a year ago ($90 million). It is reported by CNBC.

The growth driver of the company’s revenue was the development of its global trade business. A significant portion of the total revenue came from cryptocurrency derivatives available to non-US citizens.

Over the past two years, FTX’s operating income has grown from $14 million to $272 million.

In the first quarter of 2022, the company’s revenue amounted to $ 270 million, the corresponding figure for the current year is expected to be $ 1.1 billion.

In a comment to the publication, FTX CEO Sam Bankman-Fried described the numbers as “the right measure.”

FTX has recently partnered with Paradigm to launch futures spread trading.

Earlier, Sam Bankman-Fried criticized crypto giants for being indifferent to companies experiencing financial difficulties.

Read ForkLog bitcoin news in our Telegram – cryptocurrency news, courses and analysis.

Source: Fork Log

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