A recent report indicates that CoinShares reached revenues of USD 108.4 million in 2023, showing a recovery compared to 2022.
In its revealing Q4 2023 report, digital asset investment platform CoinShares highlights a robust financial year, generating a total revenue of USD 108.4 million in all of last year, according to published data.
In the last quarter of 2023, CoinShares reports significant revenue and profits, reaching the figure of $42.12 million. The firm also reports that adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) amounted to approximately $32.51 million, while its total revenue for the quarter stood at $19.36 million.
In comparison to 2022 results, CoinShares shows a notable recovery in 2023. In the fourth quarter of 2022, the company recorded a negative EBITDA of $30.11 million and a negative total revenue of $46.94 million. For the full year 2023, the company saw revenue, profit and other income of $108.4 million. Adjusted EBITDA for the year was $71.98 million, and total revenue was $47.95 million.
Binance Cryptocurrency Exchange Founder, Changpeng Zhao Has New Sentencing Date
In a new update to the case of Binance founder and former CEO Changpeng Zhao, the sentencing initially scheduled for February 23 has been postponed until April 30.
This rescheduling comes after an extensive investigation by US authorities, which led Zhao to plead guilty to violating the Bank Secrecy Act. As a result, he resigned from his position as CEO of Binance in November last year. This confession is part of a broader agreement in which Binance is expected to pay $4.3 billion to the United States government, while Zhao accepted a personal fine of $50 million.
Zhao is currently out on bail, which had been set at $175 million. However, his request to travel to Dubai was denied last December, as the US Federal Court imposed a travel ban, expressing concerns about a possible risk of escaping.
Crypto Whale Sells 8.78 Million in Ethereum, Generating Profits in the Cryptocurrency Market
In a clever move in the tumultuous cryptocurrency market, a whale known for his shrewd trading strategies sold a staggering $8.78 million worth of Ethereum (ETH). As revealed by data from the on-chain analysis platform LookOnChain.
The mysterious trader sold 3,360 ETH at an average price of $2,615, reaping profits totaling $1.3 million. This move follows a previously employed tactic, where the same whale sold 367 Wrapped Bitcoin (WBTC) worth $17.35 million at $47,288 two days earlier, securing a profit close to $1.35 million.
Transactions were carried out through three wallets identified by their addresses: 0xAc4c, 0x36c2 and 0x8B20. This strategy highlights the complexity and meticulousness with which these large-scale operations are planned.
South Korea Tightens Control Over Cryptocurrency Exchange
South Korea’s Financial Intelligence Unit (FIU) has made public its commitment to intensify surveillance of crypto exchanges in the country, as reported by the Korean Times on February 12.
Starting this year, the FIU plans to exclude platforms considered “inappropriate” from the local market, as well as expand the scope of control procedures to prevent the entry of unsuitable exchanges into the national economy.
As part of these measures, the regulator intends to implement a preventive suspension system for suspicious operations on existing platforms in South Korea. This system will freeze transactions, even during the pre-investigation phase.
The initiative, recommended by the Financial Action Task Force and considered by 49 countries around the world, seeks to strengthen security and prevent illicit financial activities.
By Leonardo Perez
