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RenrenBit's net profit in the first quarter reached 1.29 million USD, more than doubling year-on-year.
The digital currency bank RenrenBit recently released its financial report for the first quarter of 2023. As of March 31, the total user deposits on the platform reached 106 million USDT. The operating revenue for the first quarter was 1.9742 million USDT, and the net profit was 1.2973 million USD.
Compared to the full-year financial report of 2019, RenrenBit's performance has shown significant growth. The total revenue for 2019 was 2.31 million USDT, with a net profit of 610,000 USDT. In the first quarter of this year, the net profit has already exceeded more than twice the full-year net profit of 2019, reaching 2.12 times.
In addition, RenrenBit conducted a buyback and destruction operation for the platform coin RRB on April 10. Relevant destruction records can be viewed on its official website.
This financial report reflects RenrenBit's rapid development in the digital money banking business, showing that the platform has made significant progress in both user attraction and profitability. However, the volatility of the digital money market remains a factor that needs attention, and the future development trends are worth continued observation.