Skip to content
Subscriber Only

World's Largest Crypto Exchange Eyes $1 Billion Profit Amid Rout

Bloomberg business news
How Much Is Bitcoin Really Worth?

This year’s cryptocurrency crash has saddled bulls with billions of dollars in losses, but the world’s largest virtual currency exchange is still making money hand over fist.

Binance expects a net profit of $500 million to $1 billion in 2018, according to its chief executive officer. First half revenue was about $300 million, Changpeng Zhao said in an interview. Average daily turnover at his venue, which opened a year ago, is roughly $1.5 billion, and Binance now has 10 million users, he said.