2021 turned out to be a good year for the FTX cryptocurrency exchange. The company's revenue grew by 1000% from $89 million to $1.02 billion.
FTX is the third largest exchange after Binance and Coinbase in terms of the trading volume. Over the past 24 hours, the amount of transactions on this platform has exceeded $1.5 billion.
The net profit of the trading platform in annual terms increased from $17 million to $388 million.
The press service of FTX has not yet published any official comments in connection with the publication of these data.
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However, FTX CEO Sam Bankman-Fried tweeted that these figures are true.
In the first quarter of 2022, the exchange generated $270 million in revenue. About 60% of its revenue comes from processing fees for futures transactions.
Only 16% of the funds came in the form of transaction fees on the spot market.
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Initially, FTX started as a crypto derivatives exchange, but later the company integrated an option to support spot trading.
In early March, the FX exchange launched a division focused on institutional investors. Financial companies and funds wishing to test the possibilities of digital currencies can become their clients.