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  4. Sam Bankman-Fried’s FTX Revenue Surges Over $1 Billion on 1000% Growth
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Sam Bankman-Fried’s FTX Revenue Surges Over $1 Billion on 1000% Growth

Sam Bankman-Fried’s crypto exchange, FTX, recorded exponential growth in 2021 to see its annual revenue reportedly surge more than 1,000%, from $89 million in 2020...
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Sam Bankman-Fried’s FTX Revenue Surges Over $1 Billion on 1000% Growth © Reuters Sam Bankman-Fried’s FTX Revenue Surges Over $1 Billion on 1000% Growth

Sam Bankman-Fried’s crypto exchange, FTX, recorded exponential growth in 2021 to see its annual revenue reportedly surge more than 1,000%, from $89 million in 2020 to $1.02 billion in 2021.

FTX Revenue Surges Over $1 Billion

Leaked internal documents of the financial audits of FTX for the fiscal year 2020-2021 show that the exchange witnessed a 1,000% increase in revenue, growing from $90 million in 2020 to $1.02 billion in 2021.

In addition, the operating income of FTX was $272 million in 2021, up from $14 million a year earlier. The exchange also saw a net income of $388 million last year, compared to the $17 million it generated in 2020.

According to the documents, FTX generated $270 million in revenue in the first quarter of 2022. However, while the exchange was on course to hit a revenue of $1.1 billion in 2022, its revenue for 2021 remains unreported.

Bankman-Fried Confirms the Numbers

Following the reports, FTX chief executive officer Sam Bankman-Fried (SBF) confirmed the revenue generated by his exchange, writing on Twitter (NYSE:TWTR), “fwiw numbers here are correct ballpark.”

According to the internal documents, the massive growth of the crypto exchange was driven by massive customer onboarding, partnerships, sponsorships, and other factors in 2021.

On the Flipside

  • The United States subsidiary, FTX U.S., has received a cease and desist letter from the Federal Deposit Insurance Corporation (FDIC) for false representation.

Why You Should Care

FTX was one of the faces of crypto exchanges amidst the crypto hype of 2021, leading to the exponential growth of its revenue.

Continue reading on DailyCoin

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31-03-2024 10:19:50 (UTC+7)

EUR/USD

1.0793

+0.0006 (+0.06%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (5)

EUR/USD

1.0793

+0.0006 (+0.06%)

Summary

Sell

Moving Avg:

Buy (4)

Sell (8)

Indicators:

Buy (1)

Sell (5)

GBP/USD

1.2624

+0.0002 (+0.02%)

Summary

Sell

Moving Avg:

Buy (6)

Sell (6)

Indicators:

Buy (1)

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USD/JPY

151.38

0.01 (0.00%)

Summary

↑ Buy

Moving Avg:

Buy (12)

Sell (0)

Indicators:

Buy (5)

Sell (1)

AUD/USD

0.6522

+0.0007 (+0.11%)

Summary

Sell

Moving Avg:

Buy (0)

Sell (12)

Indicators:

Buy (3)

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USD/CAD

1.3543

+0.0006 (+0.04%)

Summary

Buy

Moving Avg:

Buy (8)

Sell (4)

Indicators:

Buy (4)

Sell (1)

EUR/JPY

163.37

+0.12 (+0.07%)

Summary

↑ Sell

Moving Avg:

Buy (3)

Sell (9)

Indicators:

Buy (1)

Sell (8)

EUR/CHF

0.9738

+0.0010 (+0.10%)

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↑ Buy

Moving Avg:

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Gold Futures

2,254.80

42.10 (1.90%)

Summary

Buy

Moving Avg:

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Silver Futures

25.100

+0.002 (+0.01%)

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Copper Futures

4.0115

-0.0003 (-0.01%)

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Crude Oil WTI Futures

83.11

+1.76 (+2.16%)

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↑ Buy

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Brent Oil Futures

86.99

+0.04 (+0.05%)

Summary

Neutral

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Natural Gas Futures

1.752

+0.034 (+1.98%)

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US Coffee C Futures

188.53

-2.12 (-1.11%)

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Euro Stoxx 50

5,082.85

+1.11 (+0.02%)

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S&P 500

5,254.35

+5.86 (+0.11%)

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DAX

18,504.51

+27.42 (+0.15%)

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FTSE 100

7,952.62

+20.64 (+0.26%)

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Hang Seng

16,541.42

0.00 (0.00%)

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Neutral

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US Small Cap 2000

2,120.15

+5.80 (+0.27%)

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Neutral

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IBEX 35

11,074.60

-36.70 (-0.33%)

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BASF SE NA O.N.

52.930

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Bayer AG NA

28.43

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Allianz SE VNA O.N.

277.80

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7.281

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176.96

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14.582

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 EUR/USD1.0793Sell
 GBP/USD1.2624Sell
 USD/JPY151.38↑ Buy
 AUD/USD0.6522Sell
 USD/CAD1.3543Buy
 EUR/JPY163.37↑ Sell
 EUR/CHF0.9738↑ Buy
 Gold2,254.80Buy
 Silver25.100↑ Buy
 Copper4.0115↑ Buy
 Crude Oil WTI83.11↑ Buy
 Brent Oil86.99Neutral
 Natural Gas1.752↑ Sell
 US Coffee C188.53↑ Sell
 Euro Stoxx 505,082.85↑ Sell
 S&P 5005,254.35↑ Sell
 DAX18,504.51↑ Buy
 FTSE 1007,952.62↑ Sell
 Hang Seng16,541.42Neutral
 Small Cap 20002,120.15Neutral
 IBEX 3511,074.60↑ Sell
 BASF52.930↑ Buy
 Bayer28.43Buy
 Allianz277.80↑ Buy
 Adidas207.00↑ Buy
 Lufthansa7.281↑ Sell
 Siemens AG176.96↑ Buy
 Deutsche Bank AG14.582↑ Buy
Mua/Bán 1 chỉ SJC
# So hôm qua # Chênh TG
SJC Eximbank7,910/ 8,080
(7,910/ 8,080) # 1,364
SJC HCM7,830/ 8,080
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SJC Hanoi7,830/ 8,082
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SJC Danang7,830/ 8,082
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SJC Nhatrang7,830/ 8,082
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SJC Cantho7,830/ 8,082
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Cập nhật 31-03-2024 10:19:52
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ↀ Giá vàng thế giới
$2,232.75-1.61-0.07%
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Sản phẩmVùng 1Vùng 2
RON 95-V24.69025.180
RON 95-III24.28024.760
E5 RON 92-II23.21023.670
DO 0.05S21.01021.430
DO 0,001S-V21.64022.070
Dầu hỏa 2-K21.26021.680
ↂ Giá dầu thô thế giới
WTI$82.82+5.390.07%
Brent$86.82+5.180.06%
$ Tỷ giá Vietcombank
Ngoại tệMua vàoBán ra
USD24.600,0024.970,00
EUR26.020,0327.447,78
GBP30.490,4131.787,64
JPY158,93168,22
KRW15,9119,28
Cập nhật lúc 10:12:31 31/03/2024
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