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https://www.wsj.com/articles/binance-us-was-deeply-unprofitable-in-2022-documents-show-9c9c95a6

Binance.US Was Deeply Unprofitable in 2022, Documents Show

The U.S. arm of Binance, the world’s largest crypto exchange, lost $181 million last year, according to filings by the SEC

By Vicky Ge Huang
 and Caitlin Ostroff
Changpeng Zhao, the founder of Binance, speaking virtually at a blockchain event in Hong Kong earlier this year. Photo: Anthony Kwan/Bloomberg News

The U.S. arm of Binance, the world’s largest crypto exchange, lost $181 million last year, documents filed by the Securities and Exchange Commission on Wednesday showed.

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Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved

This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.