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, 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.

Disclosure

Please note that our privacy policy, terms of use, cookies, and do not sell my personal information has been updated.

CoinDesk is an award-winning media outlet that covers the cryptocurrency industry. Its journalists abide by a strict set of editorial policies. In November 2023, CoinDesk was acquired by the Bullish group, owner of Bullish, a regulated, digital assets exchange. The Bullish group is majority-owned by Block.one; both companies have interests in a variety of blockchain and digital asset businesses and significant holdings of digital assets, including bitcoin. CoinDesk operates as an independent subsidiary with an editorial committee to protect journalistic independence. CoinDesk employees, including journalists, may receive options in the Bullish group as part of their compensation.

Consensus

32

21

43

21

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.

10 Years of Decentralizing the Future