Binance France: Own accounts hold 7 million USDT, representing users holding approximately 1 billion euros in crypto assets

ChainCatcher news, Binance France has released its first audited financial statements. Binance France holds approximately 1 billion euros in crypto assets on behalf of its users (Binance users who are residents of France), and Binance France's own accounts hold 7 million USDT. Binance France recorded a loss of 4 million euros in 2022, as these accounts covered 14 months of expenses but only 6 months of revenue.

Binance France expects to achieve profitability in total revenue and expenses for the 12 months of 2023. The period covered by these financial statements is from November 2021 (the date Binance France was established) to December 2022 (the end of the fiscal year). (source link)