Conversation

3) So I'm guessing a significant chunk of that revenue is not coming from trading fees, which would be a first. Either that, or mobile app volume is WAAAAY up as a % of exchange volume. So far they haven't broken it down.

101

SBF

@SBF_FTX

Apr 6, 2021

4) This is an impressive financial statement, and a huge step for the industry. And kudos to

@coinbase

for waiting to go public until they were consistently profitable and at least somewhat projectable. That's better than many listings. And it's a great precedent for crypto.

421

SBF

@SBF_FTX

Apr 6, 2021

5) FWIW, FTX likely had: a) ~5-15% of the revenue b) ~10-25% of the earnings c) ~2x the volume d) way fewer users e) higher in-quarter growth f) a bit higher year-on-year growth (NOT FINANCIAL ADVICE, NOT AUDITED YET, JUST ESTIMATES)

108

768

Replying to

and

What are they amortizing, litecoin?

Replying to

and

Look forward to when you do something like this. You will absolutely destroy it!

mining aint easy (FLUX ARMY)

Replying to

and

Going public is a huge ongoing expense to the Company. Not really worth it in most cases in my opinion. I worked at KPMG for 11 years in external audit and a lot of clients would have been better off staying private. Unless SAM is looking to cash out.

Replying to

and

Having used coinbase, for their standard platform, without transparent pricing, no bid/ask, and nothing but market orders, it seems like eventually their profit margins will get squeezed as more trusted exchanges emerge and compete with them on trade execution.

Replying to

and

My opinion is that FTX and Binance will experience similar growth but with no need to go public so I’m just buying irresponsible amounts of $FTT and $BNB on any significant corrections.

Replying to

and

1st Q revenue greater than all 4 Qs combined in 2020. That won’t continue so how do u value this?