Hong Kong's top regulated crypto platform is making moves toward a public listing. Last year's numbers tell an interesting story: the exchange pushed through $81.9B in trading volume while pulling in $92.6M revenue. The catch? They're still operating at a loss—roughly $99.3M in the red. Currently sitting on around $212M in assets as they prep for the IPO. A significant milestone for licensed crypto businesses in Asia's financial hub.

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PumpBeforeRug

· 12-02 01:03

You want to IPO despite the losses, that takes real guts --- How could you lose so much with a volume of 81.9 billion? The operating costs must be terrifying --- A licensed platform in Hong Kong is still a licensed platform; there will still be believers even if it continues to lose --- Wait a minute, planning to go public with just over 200 million in assets? This number doesn't add up --- Revenue of 92.6 million directly leads to a loss of 99.3 million; what's the operational situation of this platform... --- Still losing before the IPO, won't it be even more awkward after going public? --- The "milestone" of a licensed encryption platform sounds quite ironic

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MelonField

· 12-01 06:55

Loss-making IPO? I really don't understand this logic.

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SilentObserver

· 12-01 06:55

How can they dare to go public when they're losing like this? With such large traffic, they're still losing money; the business model needs to change.

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GateUser-74b10196

· 12-01 06:55

This loss figure is a bit outrageous. With such a large volume, how can we still be losing money?

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Rugman_Walking

· 12-01 06:54

Loss on IPO? I really can't understand this logic. A volume of 81.9 billion can still result in a loss, that's just incredible.

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SnapshotBot

· 12-01 06:51

Even losses can go public, this exchange's story is truly bold.