TechFlow News — According to CNBC, which obtained an internal document from FTX, the company generated $1.02 billion in revenue in 2021, up more than 1,000% from $89 million in 2020, with a net profit of $388 million. In 2021, FTX spent approximately 15% of its revenue on advertising and marketing.
In the first quarter of 2022, FTX achieved $270 million in revenue and was on track to generate about $1.1 billion in revenue for the full year. The document shows that as of the end of last year, FTX held around $2.5 billion in cash and had a 27% profit margin. Excluding advertising and "related party" expenses, the margin approached 50%. Currently, approximately two-thirds of FTX's revenue comes from futures trading fees, and about 16% comes from spot trading.
