FTX increased revenue by 1,000% in 2021
Leaked internal documents revealed
Crypto exchange FTX increased its revenue by more than 1,000% during 2021, from $89 million to $1.02 billion.
The growth was driven by its global trading business, according to leaked internal documents seen by CNBC. It also shared that FTX raised its operating income from $14 million to $272 million in 2021, and its net income rose from $17 million to $388 million.
FTX reportedly made $270 million in revenue in the first quarter of 2022, and was on track to generate $1.1 billion in revenue this year, according to an investor deck shared with CNBC. However, the exchange’s performance during the ongoing crypto winter may change this.
FTX declined to comment to CNBC on the leaked financial documents. But CEO Sam Bankman-Fried confirmed on Twitter that the report’s numbers are in the "correct ballpark."
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