Crypto Exchange Hits $1.5B Revenue in 2024, Becomes Third-Largest Platform🚀

A major cryptocurrency exchange has hit a $1.5 billion revenue in 2024, marking a huge milestone in the industry. Thanks to a solid user base and impressive trading activity, this platform is now one of the biggest players in the market.

Big Growth Thanks to Strong Trading 📈

• 140 million users have driven massive growth for the platform. With these numbers, the company saw a gross profit of $1 billion after covering operational expenses.
• Despite spending $700 million on user acquisition and branding, the exchange ended the year with a $300 million net profit. 💸

CEO Kris Marszalek's Strategy 💡

The platform’s CEO credits much of its success to Bitcoin’s rally, which boosted the company’s treasury. His plan is to reinvest in the platform and expand aggressively—even during downturns. The focus is on organic growth as well as strategic mergers and acquisitions (M&A). 🔥

Monaco to Crypto Rebrand 🌍

Once known as Monaco, the company made its transition to Crypto.com in 2018 to promote the global adoption of cryptocurrency. Over the years, it has evolved from a niche player into a global powerhouse.

Before diving into the crypto world, the CEO had success in other ventures like Yiyi, a Hong Kong mobile app, and Beecrazy, an e-commerce company. He played a key role in the acquisition of Beecrazy by iBuy Group, which later became Ensogo.

Explosive Market Growth 📊

The platform is now the third-largest exchange, with a 6.85% market share. This explosive growth is thanks to a nearly 1,000% increase in trading volume, from $120.6 billion in 2023 to $1.29 trillion in 2024. Key to this success is the company’s strong regulatory presence across 100+ jurisdictions—including major licenses in the US, Singapore, UK, Dubai, and Canada. 🌎

The company’s launch of crypto-backed debit cards and the expansion into DeFi has been pivotal. It gained 5 million users by the end of 2020 and continued its push into decentralized finance with the introduction of DeFi Swap.

Looking Ahead to 2025 and Beyond 🔮

Moving forward, the exchange plans to continue its growth in 2025 with new product launches and strategic acquisitions. The CEO is especially confident about the US market, given the administration’s favorable stance on cryptocurrencies. The company is well-positioned to continue its expansion and strengthen its position globally. 🏆

TL;DR:

• A major exchange posted $1.5B in revenue in 2024, becoming the third-largest platform. 🚀
• Despite spending $700 million on branding and user acquisition, it ended the year with a $300 million net profit. 💰
• The platform saw its trading volume increase by almost 1,000% in 2024, thanks to strong market growth and regulatory licenses across 100+ countries. 🌎
• The exchange plans continued growth in 2025, with new products and acquisitions. 💡