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Saturday, February 16, 2019

How the World’s Largest Crypto Exchange Helped Usher in the Dawn of a Currency Revolution

By: Wes Messamore
CCN

Photo: wuestenigel

  • The world’s largest crypto exchange, Binance, is flush with massive profits from its operations in 2018, estimated from buybacks of its BNB token to total $446 million.
  • Although Bitcoin is trading at a loss over the last 12 months, transaction volume has been steadily increasing over the last year, so Binance has been busy.
  • “To date, even in this bear market, we still run a profitable business,” Binance CFO Wei Zhou told CNBC in a phone interview.

Binance is looking good in 2019.

Awash with cash from its 2018 operations, the world’s largest cryptocurrency exchange flexed some half a billion dollars in profits from last year’s business, using net proceeds to buy back its proprietary exchange token BNB in amounts and at prices that led one cryptocoin industry publication, The Block, to estimate Binance’s 2018 profits at $446 million for the year

THIS IS WHAT IT'S LIKE TO USE PRIVATE CURRENCY

Read more at CCN.


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