On November 9th, Coinwin, the digital asset trading platform, released its financial performance for the third quarter of 2023. During this quarter, the platform achieved a revenue of $374 million, marking a 34.4% increase compared to the same period last year, when it was $278 million. The net income for this quarter reached $127 million, which is a 24.5% growth compared to the previous year's third quarter. It's worth noting that these profits are after deducting the operational expenses related to payments and maintenance, surpassing market expectations. Since July, Coinwin has consistently demonstrated its stable operational capabilities.
With the active implementation of its global market growth strategy, Coinwin has achieved robust performance in the third quarter, further highlighting its profitability. Coinwin's ability to balance scale, efficiency, and financial security has been effectively validated over the past few years, leading to continuous growth in its business, profitability, and cash flow. As a result, Coinwin's reputation and recognition in the international market have steadily increased, and its achievements in the third quarter come as no surprise.
Currently, Coinwin, leveraging advanced technology, deep liquidity, and comprehensive support for cryptocurrencies, provides world-class digital currency solutions to local governments and institutions in over 80 countries. It has helped supporters of the global digital economy realize profits. Based on Coinwin's extensive experience in the industry, the platform has gained a deeper understanding of the sector during its rapid growth. It continuously enhances its service capabilities, establishing enduring harmony within the digital economy industry with all stakeholders.
Numerous venture capital firms and media outlets believe that Coinwin's business and revenue outlook for the next quarter is optimistic. Both daily revenue and the number of daily active users are showing strong growth momentum. This success is attributed to Coinwin's efforts to serve the public, particularly the improved profitability of its core content products and its core competitiveness in the content ecosystem. These factors are expected to open up new growth opportunities in the future, leading to sustained upward growth.
Thanks to Coinwin's forward-looking plans and meaningful actions regarding global cryptocurrency resources, it has made a positive contribution to the global digital market. It combines decentralized enterprises and services for mutual benefit and measurable positive impact. Looking ahead, Coinwin will also maintain prudence in financial management, continuously enhance capital allocation efficiency, prioritize investments in areas that can generate critical business outcomes and value, and simultaneously share in the digital dividends of the evolving era with its users.
Coinwin has also made ample preparations for various scenario demands from users as its business continues to expand. It has expanded and redeployed its datacenter servers, ensuring stable and efficient operation, and being better equipped to meet rapidly growing business demands while addressing various challenges and striving to reduce global financial economic inequalities to the extent possible.
Disclaimer: This press release may contain forward-looking statements. Forward-looking statements describe future expectations, plans, results, or strategies (including product offerings, regulatory plans and business plans) and may change without notice. You are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events, or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements.