According to the report by CNBC, crypto exchange FTX generated more than $1 billion in revenue in 2021.
Although the crypto market has had a bad start to 2022, it has had a profitable environment in the past years. Indirectly, crypto companies have enjoyed high revenue opportunities in these past periods. One of these companies was FTX, whose revenue increased by 1000 percent.
FTX’s Revenue Exceeds $1 Billion
Documents accessed by CNBC show that FTX’s revenue of $90 million in 2020 increased to over $ 1 billion in 2021.
In the income increase distribution, which corresponds to 1000 percent, it is seen that the operating income increased from 14 million dollars to 272 million dollars in 1 year. Last year, FTX’s net income increased by more than 2000 percent, from $17 million to $388 million.
The report also states that FTX has $2.5 billion in cash by the end of 2021, with a profit margin of 27 percent. The report also states that the company, which earned $270 million in revenue in the first quarter of 2022, expects a revenue of $1.1 billion this year.
