FTX’s internal financial documents obtained by CNBC show that the exchange increased its revenue by more than 1,000% in 2021, from $89 million to $1.02 billion.
FTX CEO and Founder Sam Bankman-Fried confirmed published data. However, he did not reveal how the company managed to get such good results during the crypto winter. The company last raised money in January, raising $400 million from investors such as Vision Fund 2 SoftBank and Tiger Global. Then the capitalization of the exchange reached $32 billion.
This year, despite the bearish market trend that led to the closure of several cryptocurrency exchanges, FTX continued its successful activities. In the first quarter, the site earned more than $270 million and is now aiming for $1.1 billion.
Recently, Chinese journalist Colin Wu reported that the FTX exchange blocked user accounts for transferring funds to a ZK Money account. FTX “identifies Aztec Network as a mixing service” and strongly advises its customers not to use this service to avoid account suspension.
Earlier, the US Federal Deposit Insurance Corporation (FDIC) demanded that the FTX.US exchange stop making misleading statements about supposedly FDIC-insured cryptocurrency products.
Source: Bits
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