According to calculations by The Block researchers, the profit of the Binance Bitcoin Exchange in the first quarter of 2019 was $ 78 million.
At the same time, in the IV quarter, the popular marketplace earned $ 47 million. Thus, in the first quarter, profit growth was 66%.
Binance Profit Acc. to The Block
According to analysts, Binance does not publicly disclose its financial statements. However, they argue, the company's profits can be calculated based on the number of BNB tokens burned by the company. For example, today the marketplace conducted the seventh token burning procedure. During its course, 830,000 BNBs were burned, representing 20% of the profits in the first quarter.
In total, according to the results of these procedures, Binance destroyed 11.6 million BNB tokens. Thus, noted by The Block, for seven quarters the marketplace received $ 733 million profit.