As an analyst with a decade-long career in the financial industry, I must admit that WhiteBIT’s growth trajectory is quite impressive. Their strategic expansion into the US market, coupled with their commitment to regulatory compliance, positions them favorably amidst growing competition in the cryptocurrency exchange landscape.
The cryptocurrency platform WhiteBIT has revealed intentions to expand into the United States, following a period of significant expansion in the past few years.
Since 2022, the company has experienced a significant fivefold growth, evidenced by the addition of multiple international offices, a workforce surpassing 1,100 team members, and strategic collaborations with notable entities like FC Barcelona, Turkish FC Trabzonspor, the Ukrainian National Football Team, VISA, and ESL Faceit.
In a conversation with CoinGape, WhiteBit’s founder and CEO, Volodymyr Nosov, confirmed their plans for expansion within the United States. Throughout this discussion, Nosov highlighted the importance of adhering to U.S. regulatory requirements.
As an analyst, I can express Nosov’s statement in a more personal and simplified manner: “I realize that accessing the U.S. market isn’t just a matter of location; it’s about adhering to stringent regulations. To ensure our entry, we’ve diligently studied the market and crafted our strategies to align with local legal requirements.
WhiteBIT Group reveals that its overall clientele reaches around 30 million people, with the platform catering to about 5.5 million users. This number includes more than a million new users who joined within the last year.
WhiteBIT reports that daily trading volume has soared to $11 billion on the spot market and a staggering $40 billion on the futures market. Moreover, the platform boasts of significant online presence, ranking among the top two platforms by fall 2024 with approximately 33 million users and catering to over a thousand institutional clients.
Under its umbrella, the WhiteBIT organization comprises a variety of entities such as the centralized WhiteBIT exchange, the crypto-acquiring solution Whitepay, the decentralized exchange WhiteSwap, marketplace white.market, blockchain Whitechain, and the WB Soul Ecosystem. Additional ventures include physical cards from WhiteEX, the WhiteBIT Coin (WBT), Pocket Rocket game, G.N. News website, and the BiHy YouTube channel.
Additionally, the digital currency trading platform introduced WhitePool, a mining pool, which they claim reached a hash rate of 7 exahashes per second (EH/s) and mined approximately six blocks worth over $1.2 million in October.
Over the course of its development, WhiteBIT Coin (WBT) has experienced significant growth in worth. As reported by WhiteBIT, it witnessed a noteworthy rise of approximately 63.5% in value during this autumn, breaking through the $20 threshold. Data from CoinGecko shows that as of December 2024, WBT had climbed even higher to reach $25.
Read More
- Crypto ETPs hit $44.5b in YTD inflows amid Bitcoin surge
- AI16Z PREDICTION. AI16Z cryptocurrency
- Li Haslett Chen to Leave Warner Bros. Discovery Board
- POL PREDICTION. POL cryptocurrency
- Hong Kong Treasury says crypto is not a ‘target asset’ for its Exchange Fund
- Blockaid new dashboard to track Web3 activity and threats
- ‘Kraven the Hunter & ‘Madame Web’ Box Office Disaster Blamed on Media Scrutiny
- EXCLUSIVE: Alia Bhatt in talks with Dinesh Vijan for a supernatural horror thriller; Tentatively titled Chamunda
- Shiba Inu, Bonk, Pepe prices rebound: Beware of dead cat bounce
- The Best Fashion Audiobooks on Audible for Aspiring Stylists, Hypebeasts and Everyone In Between
2024-12-19 15:16