May 5, 2020, 11:32AM EDT
• 3 min read

Bitfinex made $21M in Q1, LEO exchange token burns suggest

Quick Take

  • Bitfinex generated $21.43 million in revenue in Q1, $10.91 million in 4Q19 and $26.15 million in 3Q19
  • Since starting the burns in June 2019, $19.85 million in LEO (~17.34 million LEO) has been burnt in 2,435 on-chain burning events
  • Bitfinex’s revenue is declining significantly compared to previous years, which is caused by Bitfinex’s fall in market share

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