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K33 says Binance losses from fines and hacks may equal 56% of five-year pretax profit

NewsFeeds update

K33 senior analyst Vetle Lunde said Binance's fines and hacking-related losses totalled about $10.7bn, roughly 56% of the $19.2bn pretax profit NewsBitcoin estimated for 2021-2025. Fines alone came to about $4.34bn, including a 2023 US criminal settlement, a $6.9m Australian fine and a $750,000 Turkish fine.

RegulationCoinNessAIBearish

Read the original on CoinNess

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Every update is a short rewrite, by AI in our own words, of a flash from the outlet named on it, credited and linked. Not investment advice.