The number of users has increased fivefold since the end of 2020.

In a nutshell: Cryptocurrencies in general may be in decline, but you won’t know that based on the latest user numbers of one popular crypto exchange. Singapore-based exchange told Axios that it now has over 50 million users. This is more than five times the number of users the exchange had when it last shared the statistics at the end of 2020.

Moreover, CEO Chris Marszalek told the publication that he expects to reach 100 million users by the end of this year.

Marszalek’s company is a bit unique in this space as they have never attracted outside investment.

“Obviously we had a huge amount of interest, with some very generous offers, but cash was not the limiting factor given the amount of revenue the company is generating,” the chief executive said. said. doesn’t mind eventually accepting funding or even going public, but Marszalek said he would prefer the company to be in a better position to withstand market pressure before going public. Part of achieving this is to diversify the income stream, which today is primarily made up of transaction fees.

Recently, the exchange has been busy creating an exchange of opinions. In July 2021, partnered with the UFC to become the official partner of the fight kit brand. A few months later, the exchange bought the rights to the Staples Center name in Los Angeles in a deal that would last two decades. is also the title sponsor of this weekend’s event. Formula 1 Grand Prix in Miami and will become a sponsor Soccer World Cup this summer.

Image credit World Spectrum

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