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When asked by TechCrunch about Binance's revenue, Changpeng Zhao (Binance CEO) answered that 90% of it comes from transaction fees.
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He also stated that it "moves up and down with Bitcoin prices, and Bitcoin price is pretty much an industry index."
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CZ stated that the company is financially sound and has removed all advertisements, so there are no pop-ups or banners.
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He stated that many products are provided free of charge to help increase adoption.
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They may, however, decide to monetize additional products, such as CoinMarketCap, which will bring in $40 million per year.
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CZ also stated that the collapse in FTX had adversely impacted the cryptocurrency industry in the short term.
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He said the long term would create a more transparent and responsible sector.
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