Binance Continues To Increase Profits Despite Cryptocurrency Market Decline

Decrease in the value of cryptocurrencies due to taking profit from the beginning of the year does not affect the state of affairs at Binance. Despite the multi-million dollar losses, the site continues to develop, serving the daily increasing flow of crypto users.

According to the latest information, this year Binance representatives expect profit in the range of $ 500 million to $ 1 billion. At the moment, the figure has already reached $ 300 million. Currently, there are about 10 million user accounts in service, and this number is constantly growing, despite the problems market.

The CEO of the site, Changpeng Zhao, drew attention to the fact that various incidents like hacking of cryptocurrency exchanges no longer have such a serious impact on the overall position of the rate of new financial instruments. Zhao noted that bitcoin managed to lose 52% of the total value and, despite this, the crypto community did not turn away from it. Come on similar with fiat instrument — the reaction would be overwhelming.

As an argument supporting Binance, information was given about the imminent opening of the possibility of performing crypto-fiat exchange in Uganda, Bermuda and Malta..

Binance Continues To Increase Profits Despite Cryptocurrency Market Decline

By the way, the Parliament of Malta adopted three decrees that fully disclose the regulatory policy. By this, the country has confirmed the status of a crypto island.

text: Evgeniya Likhodey, photo: AP

Binance Continues To Increase Profits Despite Cryptocurrency Market Decline

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