FTX Increased Revenue By 1,000% in 2021 —And 2022 Looks Even Better

The crypto winter has been a great opportunity for FTX to grow —unlike some of its competitors that are struggling to survive. The world-famous cryptocurrency exchange platform FTX increased its revenue by more than 1,000% during 2021, from $89 million to $1020 million, according to company financial documents leaked to news outlet CNBC.

In 2022, the company has continued its hot streak despite the bear market that brought several cryptocurrency exchanges to shut down. During the first quarter of the year, it made over $270 million in profit and is on its path to accumulating over $1.1 Billion in revenue, according to sources cited by CNBC. It is worth mentioning that FTX was founded 3 years ago and, in such a short time, has become a significant competitor to Binance and Coinbase, two exchanges that hold a large share of the cryptocurrency user base.