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Monex Nets $100M First-Quarter Profit Driven by Crypto Trading
Coincheck, one of Japan's largest crypto exchanges, banked its parent 9 billion yen (US$82 million).
Updated Sep 14, 2021, 1:32 p.m. Published Jul 28, 2021, 9:25 a.m. 1 min read
Monex Group, a Japanese online securities company, reported fiscal first-quarter pretax profit of 11 billion yen ($100 million) driven largely by its crypto division.
- Coincheck, one of Japan's largest crypto exchanges, banked its parent company 9 billion yen (US$82 million) in pretax profit in the three months ended June 30, according to results published Wednesday.
- That's up from the unit's 6.6 billion yen ($60 million) reported by Monex for the previous quarter.
- Monex attributes this performance to increased trading volume resulting from higher volatility in the crypto market.
- The securities company acquired Coincheck in April 2018 for $33.5 million.
Read more: Japan Increasing Efforts to Regulate Digital Currency: Report
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Enflux says “the bid is there” but no one is adding size, while Glassnode data shows easing selling pressure alongside weaker market activity.
Що варто знати:
- Bitcoin is trading in a tight range around $76,500, with muted activity as traders wait for a clear macroeconomic catalyst.
- Prediction markets see a solid chance that bitcoin holds above $74,000 and ends the week above $76,000, reflecting expectations for stability rather than a sharp move in either direction.
- Analysts...
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