Binance CEO Expects Net Profit of $1 Billion in 2018

[kreslik.news]

Changpeng Zhao, CEO of cryptocurrency exchange Binance, told Bloomberg in an interview that he expects his company to make a net profit of up to $1 billion this year.

He revealed that revenue in the first half of the year was approximately $300 million, and average daily turnover stands at $1.5 billion.

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Background

Binance was launched in Beijing in June 2017 but relocated to Hong Kong in September when the Chinese government made it clear that private cryptocurrency outfits were not welcome.

It is trading more than $1.1 billion in cryptocurrency every day at the moment, according ... (read more)