Binance CEO Says 90% Of Revenue Comes From This

Story: Divya Sinha

In an interview with TechCrunch, Changpeng Zhao, Binance CEO, when asked about its revenue, he replied 90% comes from transaction fees.

In addition to it, he said “it goes up and down with Bitcoin price and Bitcoin price is pretty much industry index”.

CZ revealed that the company is in a strong financial position and has removed all ads so there are no banners and no pop-ups.

He said that they provide many products for free just to increase the speed of adoption.

However, if required, they may decide to monetize other products such as CoinMarketCap which will give $40 million a year.

CZ also said that the collapse of FTX has negatively impacted the cryptocurrency sector in the short term.

However, he mentioned in long term it will help to create a more responsible and transparent sector.