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Yeah, but trading volume is not liquid cash. It's not the exchange's money. They make money on fees / commissions, but they can't just dip into the customer fun
by vngzs 5y ago
Yeah, but trading volume is not liquid cash. It's not the exchange's money. They make money on fees / commissions, but they can't just dip into the customer funds and use them to pay the government.
- rootsudo 5y agoYou'd think but look at Mt. Gox.
- ur-whale 5y ago> You'd think but look at Mt. Gox. Gox was a ridiculously amateurish affair run by a french pimply php hacker and manga lover teenager. Bitmex is in a slightly different league.
- gruez 5y ago>but they can't just dip into the customer funds and use them to pay the government. But if they have $1B-2B worth of trade volume daily and they charge a 0.1% fee per trade, wouldn't that mean they're generating $1M daily in revenue? From that, wouldn't it be reasonable to assume they have profits accumulated to pay the fine?