Binance CEO Reveals The Exchange Reinvests 25% Of Its Profits In Investments Every Year

2020-4-14 21:28

Binance CEO, Changpeng Zhao, has revealed that they reinvest 25% of their profits to Investment opportunities as they intend to grow their portfolio. The firm has since made several high profile acquisitions especially on local crypto exchanges to allow them to offer trading support in local currencies.

According to stats, Binance crypto exchange spends an equivalent to a quarter of its profits to various investments. Binance CEO, Changpeng Zhao, popularly referred to as CZ, said during an interview with South China Morning Post; their intention is to grow into more than just a trading company. Given these ambitions, Binance netted in close to $180 million in profits for the last quarter of 2019,

“We usually spend about a quarter of our profit on investment opportunities every year.”

Binance Recent Acquisitions

Notably, Binance has zeroed in on fiat onramps making inroads already. They have extended support for crypto purchases enabling customers in over 50 foreign territories. The firm has specifically prioritized exchanges that already have pre-existing relationships with local banks which will allow them to offer trades in the local currencies.

This was particularly evident when they acquired WazirX, an Indian based crypto exchange, and facilitated the launch of a fiat onramp that accepted rupees. The strategic move was made shortly after the Indian Supreme court lifted a ban that barred bars from extending support to crypto firms.

On April 2nd they were also involved in a rumored $400 million mega deal when they acquired Coin Market Cap, arguably one of the most prominent crypto data websites, a move that was lauded by several high profile industry experts.

High Flying Binance Futures

Binance also recently launched a futures trading platform late last year which has gotten a massive response from the market, catapulting Binance Futures to second in trading volumes, just after BitMEX who have been in play for way longer than Binance. This was impressive as they landed on the number 2 spot just a month after its launch.

“Binance Futures has already recorded higher volumes than the Binance spot market, less than one month after its launch.”

origin »

Binance Coin (BNB) на Currencies.ru

$ 679.3 (+0.36%)
Объем 24H $1.438b
Изменеия 24h: 0.08 %, 7d: -1.33 %
Cегодня L: $673.81 - H: $680.47
Капитализация $96.787b Rank 6
Цена в час новости $ 15.43 (4302.46%)

profits binance ceo local acquisitions high made

Источник: bitcoinexchangeguide.com

profits binance → Результатов: 69


Binance Research Indicates HODLing Bitcoin Is the Most Effective Strategy To Increasing Profits

Binance Research says that HODLing Bitcoin is the best strategy and they may just be right, considering Bitcoin mostly goes up only a few days a year. When in doubt? #HODL. Not holding #Bitcoin on Dec, 7 2017 means you would have missed its largest daily absolute gain of $3,608 (25%). The chart below (from […]

2019-11-15 21:35


Profits of Binance’s BNB Coin Will Not Be Shared with In-House Token Holders, Amid Regulatory Difficulties

A new Q&A session was recently hosted on social media by Mat Greenspan, but it roped in CEO Changpeng Zhao of Binance, discussing a range of issues. One of the questions turned the attention to profit sharing, as the Twitter user asked if BNB would be offering this benefit to holders, “like other exchanges?” After […]

2019-3-6 05:19


XRP acts as the safe haven for trader profits: Parking TRX gains in the Ripple’s token on Binance

The volume of the TRX/XRP pair on Binance is off the charts, registering record highs which indicates that the profits TRX traders took on Tron’s latest run are spilling over to XRP. According to NewsBTC, the recent release of the BitTorrent Token whitepaper appears to have driven momentum over the past 48 hours for TRX.

2019-1-10 11:30


Фото:

Q3 2018: Binance Rakes In $85 Million, Burns 1.6 Million BNB

Binance Torches $17 Million In BNB For 5th Quarterly Burn When Binance’s whitepaper was first released in early-2017, many investors were immediately drawn to the startup’s proposed quarterly buyback policy, in which Binance would allocate 20% of its profits to buy back its in-house digital asset (BNB) at market values in an apparent bid to please investors.

2018-10-17 10:19


дальше еще 20 новостей →

Партнеры Currencies.ru



Реклама на Currencies.ru

Самое свежее на Currencies.ru

BNB weekly DEX volumes hit 3-year high - Time for $800? 

Weekly DEX volumes on BNB Chain have surged to $17.74 billion, marking the highest level since December 2021.  BNB was also trading within an ascending triangle pattern on its daily chart, whiThe post BNB weekly DEX volumes hit 3-year high - Time for $800?  appeared first on AMBCrypto.

Bitcoin at $105,000 - Assessing the odds of BTC hitting a new ATH soon

Whale activity surged as Bitcoin formed a double-bottom pattern, testing key resistance levels Market sentiment strengthened on the back of rising active addresses, declining exchange reserves,The post Bitcoin at $105,000 - Assessing the odds of BTC hitting a new ATH soon appeared first on AMBCrypto.

How Binance's 46% market share shapes Bitcoin’s price trends

Binance's cumulative spot volume reached $7.23 trillion in 2024 marking 46.59% of the total market share. Binance's cumulative spot volume reached $7.23 trillion in 2024. BTC investors on the The post How Binance's 46% market share shapes Bitcoin’s price trends appeared first on AMBCrypto.

BNB on the verge of a breakout: Will $722 unlock a rally?

BNB nears $722 resistance as bullish sentiment and symmetrical triangle signal a potential breakout. Social dominance rises slightly; cautious long/short ratio highlights mixed trader sentimentThe post BNB on the verge of a breakout: Will $722 unlock a rally? appeared first on AMBCrypto.

BNB eyes a new ATH as traders show confidence: Is $800 feasible?

The asset is currently trading within a bullish framework that could propel it beyond its previous ATH if the trend materializes. On-chain metrics reveal strong buying interest among market parThe post BNB eyes a new ATH as traders show confidence: Is $800 feasible? appeared first on AMBCrypto.