This represents a significant improvement from the net losses of $111.7 million reported in the same period last year, as well as the $288 million loss in the fourth quarter of the previous year.
The value of Bitcoin held on the balance sheet remained unchanged from the previous quarter, standing at $184 million.
Despite a market that saw thousands of cryptocurrencies hit new lows, Binance had greater trade volume in Q1 2022 than Q1 2021.
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