> Not sure how that works exactly
My gusss is: If they take a cut in crypto and that crypto increases in value, that increase wouldn't be turnover but it would be profit?
Correct. Capital gains is profit.
Further down, I'm reading comments saying that they did shut down because of a lack of profitability. So which one is it?
Selling assets pumps up the bottom line, but if that's your only source of income, you're better off just liquidating the company and cutting the losses
Re:Localbitcoins Is Shutting Down
by joyfylbanana on Thursday February 09, 2023 @09:00AM
(#34723970)
Looking at the downward trend in volumes, I suspect the profits come from the results of selling their bitcoins they have been holding in the balance sheet, the service itself is unprofitable.
This is all publicly available since the company behind it, is based in Finland