$BTC : Binance May Have Lost Around Half of 5-Year Profits to Fines and Hacks: Analysis
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Binance’s “cost of doing business,” including fines and hack losses, could equal more than half of the largest crypto exchange’s estimated pre-tax profits from 2021–2025.
• Binance’s estimated $10.7 billion bill for fines and hack losses equals around 56% of its estimated 2021–2025 pre-tax profits.
• The exchange has paid $4.34 billion in known fines and had $6.38 billion stolen in major hacks, though a substantial chunk of the funds stolen last week were frozen.
• Following the largest crypto theft in history, Binance’s combined bill for fines and hack-related losses has reached around $10.7 billion.
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© Bitcoin.com News
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Binance’s “cost of doing business,” including fines and hack losses, could equal more than half of the largest crypto exchange’s estimated pre-tax profits from 2021–2025.
• Binance’s estimated $10.7 billion bill for fines and hack losses equals around 56% of its estimated 2021–2025 pre-tax profits.
• The exchange has paid $4.34 billion in known fines and had $6.38 billion stolen in major hacks, though a substantial chunk of the funds stolen last week were frozen.
• Following the largest crypto theft in history, Binance’s combined bill for fines and hack-related losses has reached around $10.7 billion.
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© Bitcoin.com News
