Documents Reveal Binance.US Suffered a $181 Million Loss in 2022
Binance’s US branch, Binance.US, was deeply unprofitable in 2022 and lost as much as $181 million for the year, a new filing made by the Securities and Exchange Commission (SEC) has revealed. The loss came despite Binanc...
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The loss came despite Binance.US receiving some $132 million last year from its parent company BAM Management, and occurred due to challenging market conditions in crypto, according to FGMK, an auditor hired by Binance.US.
The news was first reported by the Wall Street Journal on Wednesday....
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