Crypto exchange Binance’s CEO Changpeng Zhao ‘CZ’ reveals that the company gets 90% of its revenue from transaction fees.
Zhao went on to say that Binance has already removed all ads from the data site CoinMarketCap, which it acquired in 2020 to make the interface cleaner.
CZ further explained, “We can turn that back on, that’ll give us $40 million a year. But we don’t need to today, we have many products we provide for free just to increase the speed of adoption. But if we want to monetize those, we could.”
As per the Bloomberg analysis, Binance’s revenue is estimated to be around $20 billion in 2021. Last week, Binance made the latest move with the acquisition of Sakura, a Japanese-registered crypto exchange service provider.
