The financial record of FTX Derivatives Exchange for the 2021 financial year has shown that the company’s revenue topped the $1 billion mark, according to leaked earnings documents seen by CNBC.
According to the leaked documents, FTX’s revenue grew from $89 million to $1.02 billion in 2021, which stands at 1,000% growth. As revealed, the firm’s operating income was $272 million, up from $14 million in the year-ago period. The trading platform also saw a net income of $388 million last year, up from just $17 million a year earlier.
The growth recorded across the board reflected the boom the digital currency ecosystem recorded in 2021, with Bitcoin (BTC) attaining its all-time high (ATH) price above $69,000.
FTX was well positioned for the impressive figures it recorded and has continued with the same momentum as last year. The company recorded $270 million in revenue in the first quarter of this year, and by projections, it is on track to earn as much as $1.1 billion this year. The...
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INN caught up with cryptocurrency investment expert Dan Hoover to review the current landscape and where the market may be heading. The cryptocurrency investment marketplace has gone through severa...