Binance's Revenue Breakdown: How the Crypto Giant Earns Billions from Crypto Transactions by@secagainsttheworld
Binance's Revenue Breakdown: How the Crypto Giant Earns Billions from Crypto Transactions
by SEC vs. the WorldSeptember 18th, 2023
Too Long; Didn't Read
Binance, a leading crypto exchange, primarily generates revenue from transaction fees on its platform. With trading volume soaring to $9.58 trillion in 2021, it stands as the world's largest crypto asset trading platform. Between 2018 and 2021, Binance amassed at least $11.6 billion in revenue, with most of it stemming from transaction fees, showcasing its dominant position in the crypto industry.People Mentioned
‘Illustrate a chart/graph for revenue plotted against time’ Image created by HackerNoon AI Image Generator
SEC v. Binance Court Filing, retrieved on June 5, 2023 is part of HackerNoon’s Legal PDF Series. You can jump to any part in this filing here. This is part 20 of 69.
FACTS
III. UNDER ZHAO’S CONTROL, BINANCE PROVIDED EXCHANGE, BROKERDEALER, AND CLEARING AGENCY SERVICES TO U.S. INVESTORS THROUGH THE BINANCE.COM PLATFORM.
D. Binance’s Receives Compensation.
101. Binance’s revenue derives primarily from taking fees for transactions in crypto assets effected through the Binance.com Platform. For spot trading, Binance typically charges between 0.015 percent and 0.2 percent of the nominal value of transactions, depending on various parameters. Binance also charges fees for withdrawals and for trading on margin.
102. By 2021, its trading volume spiked to $9.58 trillion, making it the largest crypto asset trading platform in the world. 103. Between June 2018 and July 2021, Binance earned at least $11.6 billion in revenue, most of which derived from transaction fees.
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This court case 1:23-cv-01599 retrieved on September 6, 2023, from docdroid.net is part of the public domain. The court-created documents are works of the federal government, and under copyright law, are automatically placed in the public domain and may be shared without legal restriction.
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