Binance Expects to Earn From $800M to $1B This Year, CEO Says: Report

Cryptocurrency exchange Binance will likely earn between $800 million and $1 billion this year. That's up from about $570 million in 2019.

AccessTimeIconDec 4, 2020 at 5:46 p.m. UTC
Updated Sep 14, 2021 at 10:38 a.m. UTC
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Cryptocurrency exchange Binance will likely earn between $800 million and $1 billion this year, as market uncertainty drives interest – and trading – in cryptos, CEO Changpeng Zhao told Bloomberg
That’s up from about $570 million in 2019, according to the report.

So far this year, the price of bitcoin, by far the largest cryptocurrency by market cap, has risen over 170% since the year started, and earlier this week set a new all-time high before giving back some gains. Exchange volumes have exploded as well.

Launched in 2017, Binance is one of the world’s largest crypto exchanges by trading volume.

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