Binance: the exchange remains profitable, despite the "cryptozyme"

The largest in terms of trading volumes, the Bitcoin exchange Binance is still profitable, despite the long bear market, CNBC reports.

“Today, even despite the bear market, we are still a profitable business ,” said Wei Zhou, financial director of the exchange.

According to him, Binance does not disclose financial information to the public. Thus, media publications are based on the analysis of indirect data from open sources.

For example, recently, The Block’s edition of BNB estimated last year’s Binance net profit at $ 446 million based on the number of burned tokens. Last July, Changpeng Zhao, head of the exchange, told Bloomberg that in 2018 his company's net income would be between $ 500 million and $ 1 billion.

Wei Zhou began managing Binance finances last September. When asked whether the stock exchange plans to add securities to the listing, he replied that in the short term there are no such plans.

With regard to future possible acquisitions of Binance, Zhou noted that the company "is always looking for good services and high-quality products."

Recall recently Changphen Zhao said that in the very early stages of development, Binance survived the attack from one major player.

Also earlier, BlockchainJournal reported that Binance will soon launch a test network , which will form the basis of a decentralized exchange.

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