Binance Profit 2018

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    At the beginning of 2018, Binance CEO Chngpeng Zhao told the media that they were expecting to get up to $1 billion in profit at the end of the year according to their predictions but they only managed to get about half of this amount.

    By the end of the year, Binance delivered a net profit of $446million despite the bearish market, by the end of the first quarter of 2018, the exchange had reported $200 and by the end of the second quarter, they had grossed $300m.

    Binance had expected to replicate this in the second half of the year but ended up with $100m This shows that profits declined sharply in the second half of 2018, this was largely attributed to a larger investment in infrastructure and a declined trading volume.

    Answered on August 8, 2019.
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