Bitstamp Reports 257% YoY Rise in Pre-tax Profit in 2020
Source: Fanny
The original global cryptocurrency exchange Bitstamp recently posted its financial results for 2020, ending on December 31, indicating a jump in revenue and profit.
Total revenue rose from the prior year’s €51.1 million to €54.5 million, showing a YoY increase of 6.6%.
The company earns revenue by levying fees on transactions, deposits and withdrawals. It also charges services fees from its clients and acts as a Ripple Gateway.
In addition, pre-tax profit came in at €21.1 million, up 257% from 2019. Moreover, net profits stood at €17.24 million.
As Fazzaco reported earlier, Bitstamp has announced the appointment of Robert Zagotta as its new Chief Executive Officer for the U.S.
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