Based on the results of July-September, HTX (formerly Huobi) received a net profit of $98 million. This was reported by Tron co-founder Justin Sun, who is credited with control of the Bitcoin exchange.
三季度结束了，三季度实际收入为2.02亿美元，支出为1.04亿美元，盈利为9800万美元，环比增长14%，集团增收降本措施持续见效。四季度预测收入为1.9亿美元，支出8800万美元，盈利为1.04亿美元。 https://t.co/8cBsL4v7vn
— HE Justin Sun 孙宇晨 (@justinsuntron) October 26, 2023
According to the results of July-September, the revenue of HTX and related companies amounted to $202 million, expenses – $104 million. In October-December, Sun “conservatively” expects $190 million and $88 million, respectively, which will allow a net profit of $104 million.
Over the previous four quarters, the platform recorded losses, which required optimization of marketing, advertising and salary costs.
In August 2023, the exchange experienced an outflow of funds amid rumors of insolvency – as a result, the total value of blocked assets decreased by almost $54 million.
Sun previously revealed details of the HTX rebranding.
In November 2022, the media reported on the possible merger of Huobi with Poloniex, which Sun and a group of investors bought in 2019.
The entrepreneur denied the rumors, but did not rule out similar developments in the future. The platforms have established a strategic partnership.
Source: Cryptocurrency
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