Odaily Frontline | Changpeng Zhao: Binance is expected to make $800 million to $1 billion in profit in 2020

念银思唐

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2020-12-06 14:00 (UTC+8)

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Binance’s expected profit this year is almost double what it was last year.

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Binance’s expected profit this year is almost double what it was last year.

This article comes fromThe Block, original author: Yogita Khatri

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Summary:

- Binance (Binance) CEO Changpeng Zhao predicts that Binance's profit this year is expected to hit a record of 800 million to 1 billion US dollars.

- Last year, the exchange made approximately $570 million in profit.Binance expects to make $800 million to $1 billion in profit this year, according to Binance CEO Changpeng Zhao.After Zhao Changpeng was selected as Bloomberg's 2020 list of the world's 50 most influential people, this Friday

The data was disclosed to Bloomberg

. Zhao Changpeng said that Binance’s expected profit this year is almost double that of last year (about 570 million US dollars).

Odaily Note: On December 4, Binance CEO Changpeng Zhao (CZ) was included in Bloomberg's 2020 list of the world's 50 most influential people. Kristalina Georgieva from the International Monetary Fund (IMF), Wang Xing, founder and CEO of Meituan, and others were also included in this list. People on the list in previous years include: Ma Yun, Liu Chiping, Elon Musk, Jeff Bezos, etc.

Bloomberg's 2020 list of the world's 50 most influential people aims to recognize innovators, entrepreneurs and leaders who have made significant contributions to various fields around the world in the past year. The selected candidates are engaged in business, entertainment, finance, politics, science, Technology, etc., and people who have achieved great achievements in 2020.

To be sure, the exchange’s spot and futures trading platforms have performed very well so far this year. According to statistics from The Block Research, as of November 30, Binance's total spot transaction volume was approximately US$858 billion, and the total bitcoin futures transaction volume was approximately US$991 billion.

In terms of open interest, Binance’s futures trading platform crossed the $1 billion mark in November. Open interest refers to the value of futures contracts that have not yet been settled.

Binance started offering futures trading in September 2019, and since then, it has grown into one of the top crypto derivatives exchanges.