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Binance – a unicorn in 6 months?

Via Binance: The Fastest Ever Startup To To Achieve Profitable Tech Unicorn Status, with highlights:

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  • “Binance’s amazing growth in less than 5 months to become the world’s top 3 cryptocurrency exchange (though, according to Binance founder & CEO Changpeng Zhao (“CP”) they are now #2, just behind Bitfinex, for now).”
  • “Binance is valued at not $1bn+ but closer to $2bn+” – in less than six months?!?
  • Article claims that Binance has only raised $10 million from Sequoia Capital; however Crunchbase suggests that there are two other firms that plonked down cash – Black Hole Capital and Funcity Capital.
  • Another source for the story. Is it really profitable?

I like that Binance themselves do a weekly report. Good for insight, e.g. they’re now at the 5.8 million registered user mark (just the previous week they stood at the 4.3 million mark!).

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