CNBC published an interesting report about leaked financials of crypto exchange FTX, which literally exploded during the crypto hype in 2021. The revenue of the crypto exchange controlled by Sam Bankman-Fried soared more than 1,000%, from $89 million to $1.02 billion in 2021. Operating income was $272 million, up from $14 million a year earlier. FTX saw a net income of $388 million last year, up from just $17 million a year earlier. FTX declined to comment, said CNBC.
According to an investor deck shared with CNBC, it recorded $270 million in revenue in Q1 2022 and was on track to do roughly $1.1 billion in revenue in 2022.
The report further claims that FTX possessed $2.5 billion in cash by the end of 2021 with a profit margin of 27%. It raised $400 million in Jan 2022 at a $32 billion valuation from investors like SoftBank’s Vision Fund 2 and Tiger Global.
