Cryptocurrency research and brokerage firm K33 released a report stating that Binance's estimated losses from fines and hacking amount to approximately $10.7 billion, which accounts for about 56% of its pre-tax profits from 2021 to 2025. According to NewsBitcoin, Binance's pre-tax profit for the period 2021-2025 is estimated at $19.2 billion. Binance has never disclosed consolidated financial statements covering the entire group during its nine years of establishment. K33 Senior Analyst Vetle Lunde explained, "The amount Binance must pay in fines is approximately $4.34 billion. This includes the 2023 US criminal case settlement, a $6.9 million fine imposed in Australia this year, and a $750,000 fine imposed in Turkey in 2021, among others."
