FTX's revenue in 2021 was 10 times what it was the year prior, according to a new report from CNBC that cites leaked financial documents.
FTX’s revenue in 2021 was 10 times what it was in 2020, according to a new report.Crypto exchange FTX generated more than $1 billion in 2021 revenue after making only $90 million the year before, according to a new report fromThe growth was driven by its global trading business, according to the report, which cites internal documents.
FTX generated $270 million in revenue in the first quarter of 2022 and was on track to generate $1.1 billion this year, according to an investor deck seen by CNBC, which notes that it is not clear how the market crash from earlier this year affected the firm. Founded in 2019, FTX quickly rose to become a leading exchange under the leadership of CEO Sam Bankman-Fried.
Lately, Bankman-Fried has been pursuing acquisitions and has stepped in to lend money to crypto companies facing liquidity crises. In July, FTX US
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