World’s Leading Crypto Exchange Binance Expects Net Profit of $1 Billion in 2018
In an interview with Bloomberg, Binance founder Changpeng Zhao said his company has netted $300 million this year. Already, the company has 10 million users and turns over billions in cryptocurrency exchanges daily, Zhao said.
The success of Zhao’s company is largely unprecedented: Zhao founded Binance just last year in July 2017. It’s snagged the attention of cryptocurrency enthusiasts worldwide with its impressive transaction rates.
Zhao added in Friday’s interview that Binance now has 10 million registered users – only one month prior that number was 9 million. In March it reported that its user base had exceeded the population of Hong Kong (7.9 million), and in January Zhao told Bloomberg that the exchange was forced to shut down briefly because more than 240,000 people had tried to register in the space of an hour.
Although, Binance was founded in China but left the country before the ban on crypto trading imposed by the Beijing authorities went into effect in September last year. The exchange moved its headquarters to Japan and earlier this year it opened an office in Taiwan as well.
But After regulatory pressures against it increased in both Japan and Hong Kong, where it also operated, the trading platform decided to relocate to Malta.
Malta, which is now the blockchain island, welcomed Binance with open arms where it intends to set up a fiat-crypto exchange and start supporting fiat deposits and withdrawals, adding EUR and GBP trading pairs.
KryptoMoney.com publishes latest news and updates about Bitcoin, Blockchain Technology ,Cryptocurrencies and upcoming ICO’s.
Post Views: 68
