FTX’s 2021 revenue surpassed $1 billion. The figure was roughly ten times higher than the year before ($90 million). This is reported by CNBC.
The driver of revenue growth was the expansion of the global trading business line. A substantial portion of the total receipts came from cryptocurrency derivatives available to non-residents of the United States.
Over the past two years, FTX’s operating profit rose from $14 million to $272 million.
In the first quarter of 2022, the company’s revenue was $270 million. The corresponding figure for the current year is forecast to be around $1.1 billion.
In a comment on the publication, FTX chief Sam Bankman-Fried described the figures as a ‘proper benchmark’.
fwiw numbers here are correct ballpark
— SBF (@SBF_FTX) August 20, 2022
Recently FTX entered into a partnership with Paradigm to launch futures spread trading.
Earlier, Sam Bankman-Fried criticised crypto giants for their indifference toward companies in distress.
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