Binance in profit despite bear market, no stock listing incoming, says CFO

15 Feb, 2019 | Updated: 15 Feb, 2019
by Alberto Arnaldo
Binance in profit despite bear market, no stock listing incoming, says CFO

Wei Zhou, Binance CFO since September 2018, was interviewed via phone by the U.S.A business news channel CNBC.

Although the trading volume of Binance is definitely down when compared to the peaks in late 2017, they still exceed all other exchanges. Interestingly, when Zhou was asked if Binance is considering a stock listing, he said there were no plans, at least in the short term.

With regards to possible mergers and acquisitions of other firms, the answer went in the line of CZ’s best-known phrase, be careful what you wish for: “we are always on the lookout for high quality products”.  

Read more: "Careful what you wish for": CZ hints at GBP to BTC pair

Chepicap has reported recently that Binance earnings for 2018 were around $450 million, despite CZ’s past prediction from the summer targeting profits between $500 million and $1 billion. However, all things considered, the latest bear run during the end of the year plunged prices lower than what CZ might have thought at first. Zhou ended the interview with an optimist valuation of Binance’s performance: “to date, even in this bear market, we still run a profitable business”.

Read more: CZ Binance interview: "something fishy" is going on with QuadrigaCXSpend Card implements BNB: buy, sell and spend BNB using credit card

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