Leaked financials indicate FTX's 1,000% growth amid the crypto mania.
By The Exchange Team
FTX rode the crypto frenzy to a billion dollars in revenue last year while extending its global operations.
The audited financials reveal the privately held company's finances. FTX was successful and grew swiftly globally.
The crypto exchange's income climbed from $89 million to $1.02 billion in 2021. Like many startups, its profitability is measured differently.
Operating income rose from $14 million to $272 million. FTX's net income increased from $17 million to $388 million last year.
FTX did not provide a remark regarding the financial documents that were found to be compromised.
However, it's unknown how FTX fared in the second quarter, when crypto prices plummeted during the current "Crypto Winter."
As Coinbase had $7.4 billion in revenue and $3.6 billion in first quarter but In the second quarter, it reported a 64% reduction from the year-ago quarter.