- Gross profit is $225 million
- This information was reported by an SEC accountant
The SEC accountant reported that Binance.US made $410 million in profit. The information is described in the period from 2019 to 2023 and concerns BAM Trading Services, which stands behind the exchange.
The American division of Binance received a total of $225 million in gross profit, gross revenue is the income that the company receives from its core business.\
The most profitable year for the company was 2021, then managed to earn $147 million in gross profit and $265 million in total revenue.. The lowest amount was in the year of the exchange’s founding, $138 million and $254 million in gross and total profits, respectively. As of June 2023, the exchange had $20 million in gross revenue and $38 million in total revenue.
On the evening of June 6, reports surfaced that the SEC is demanding an immediate freeze on the crypto assets of Binance.US and Changpeng Zhao. Allegedly the CEO of the exchange is suspected of misuse of client funds. The company subsequently responded to these accusations. In a statement writes that the appeal of the regulator is unfounded, the platform will continue to operate as normal, and CZ assured that the customer funds SAFU.
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