Binance 2025: What the numbers likely mean for profit
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Short version: Binance doesn’t publish audited financials, so no one outside the company can state its 2025 profit or loss with certainty. But we can build a grounded revenue view from publicly reported trading volumes and Binance’s posted fee schedules, then sanity-check that against known 2024 revenue.
What we know (from reputable data sources):
In June 2025, Binance handled about $430B in spot volume and $1.89T in derivatives volume, per CCData’s monthly Exchange Review.
Binance’s posted fees in 2025: spot starts at 0.10%, and futures ~0.02% maker / 0.05% taker before discounts and promotions. Actual realized rates are lower after VIP tiers, BNB discounts and occasional maker rebates.
Binance is a private company and does not disclose comprehensive financial statements publicly. Independent compilers peg 2024 revenue around $16.8B as a reference point.
A practical 2025 revenue estimate (from activity, not headlines)
Using June 2025 volumes as a steady-state month and applying reasonable “all-in” fee assumptions (after VIP/BNB discounts and promos), we can annualize an estimate:
Conservative: 0.05% on spot, 0.015% on derivatives
Base: 0.07% on spot, 0.020% on derivatives
Aggressive: 0.10% on spot, 0.030% on derivatives
Applying those to CCData’s June volumes and annualizing:
Conservative: ≈ $6.0B annualized revenue
Base: ≈ $8.1B annualized revenue
Aggressive: ≈ $12.0B annualized revenue
That range is below the widely cited ~$16.8B for 2024, which makes sense because:
1. June may not reflect bull-peak activity across the whole year;
2. We’re excluding other revenue lines (options, interest on collateral, fiat/crypto conversion, listings, institutional services);
3. We used discounted effective fee rates.
Profit or loss?
There’s no public net income figure for 2025. Given Binance’s scale, fee structure, and June volumes, the operating business likely throws off positive operating cash flow in a typical month. But without audited costs (personnel, legal, compliance, tech, incentives, rebates), we cannot responsibly claim a specific profit or confirm a loss. Treat any exact profit number you see online as unverified unless it cites audited statements.
