VICTORIA, Seychelles, April 29, 2025 /PRNewswire/ — MEXC, a leading cryptocurrency exchange, witnessed impressive growth throughout 2024, with its global user base soaring to 36 million and trading volumes surging across the board. The platform recorded a 143% increase in Spot trading volume and a 118% jump in Futures trading volume, reflecting its rising dominance in the digital asset space. As MEXC celebrates its 7th anniversary, it has not only weathered the challenges of a highly competitive industry but has firmly positioned itself as one of the top-performing exchanges worldwide—driven by innovation, scalability, and user-first service.

Key Highlights:

• Spot Trading Volume: +143% YoY
• Futures Trading Volume: +118% YoY
• Market Share: Jumped from 2.4% in 2023 to 13.06% in Q1 2025
• User Base: Reached 36 million globally
• Listed Assets: Over 3,000
• Employees: Doubled to 2,000+
• Recovered User Assets: Over $1.8 million
• Customer Service Tickets Resolved: 1.1 million+

Unprecedented Trading Volume Growth: Dominating Market Share

MEXC has demonstrated exceptional performance in its core trading business, with remarkable growth metrics that reflect its increasing dominance in the cryptocurrency exchange landscape. According to the latest data, the platform achieved an impressive 143% growth in Spot trading volume and a substantial 118% increase in Futures trading volume over the past year.

According to TokenInsight’s industry report, MEXC’s market share surged from 2.4% in 2023 to 11.6% in 2024, and further increased to 13.06% in 2025 Q1. The CoinGecko Q1 2025 report also highlighted MEXC’s expanding market presence and growing influence in the global cryptocurrency exchange ecosystem, noting its leap into 3rd place in terms of futures trading volume.

This impressive growth is well above the industry average, showing that more and more traders are choosing MEXC for its strong trading tools. With high liquidity, low fees, and reliable performance in both Spot and Futures markets, the platform continues to attract a wide range of users—from everyday investors to major institutions.

36 Million Users and Counting: MEXC’s Global Expansion

In a testament to its expanding influence, MEXC has witnessed phenomenal user adoption over the past year. The platform welcomed an impressive number of new users, significantly expanding its ecosystem. This substantial influx has propelled the exchange to reach a cumulative user base of 36 million globally.

This rapid growth isn’t just about the numbers—it shows that millions of people and institutions are choosing to trust MEXC for its reliable infrastructure, strong security, and quality service. The platform’s success in gaining and keeping users from around the world highlights its broad appeal and the increasing trust it’s earning from crypto enthusiasts, traders, and investors everywhere.

Strategic Organizational Expansion: Scaling with Purpose

Understanding that technological innovation is driven by human talent, MEXC has undertaken a strategic workforce expansion, nearly doubling its staff to 2,000 employees. This deliberate scaling has focused on strengthening three critical operational pillars:

1. Growth Center – A specialized division dedicated to accelerating user acquisition, enhancing platform adoption strategies, and exploring new market opportunities. This team spearheads MEXC’s expansion into emerging cryptocurrency markets while strengthening its position in established ones.

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2. R&D Center – The innovation engine of MEXC, where talented engineers and developers work tirelessly to enhance the platform’s technological infrastructure, develop cutting-edge features, and implement security protocols that safeguard user assets. The R&D team’s commitment to excellence ensures that MEXC remains at the technological vanguard of the crypto exchange landscape.

3. Business Support – The operational backbone ensuring seamless platform functionality, superior customer experience, and efficient business processes. This division works behind the scenes to maintain the high standards of service that users have come to expect from MEXC.

Diverse Asset Offerings with Reward Programs

MEXC continues to enhance its position as a versatile and comprehensive trading platform, offering sophisticated Spot and Futures trading services that cater to both novice and experienced traders. The exchange has significantly expanded its asset portfolio to include an impressive 3,000+ listed assets, providing users with unparalleled diversity in trading options across various cryptocurrencies, tokens, and digital assets. This extensive listing strategy reflects MEXC’s commitment to offering users access to emerging projects and established cryptocurrencies alike, creating a dynamic marketplace where traders can diversify their portfolios and capitalize on market opportunities.

Complementing this diverse asset ecosystem, MEXC has implemented one of the industry’s most comprehensive reward programs, successfully orchestrating 2,293 airdrop events through its innovative token airdrop program, distributing a substantial prize pool valued at $136 million. These strategic initiatives serve multiple purposes: rewarding loyal users, incentivizing platform participation, and introducing the community to promising new projects. By consistently sharing value with its user base while maintaining robust liquidity and advanced trading infrastructure, MEXC has cultivated a culture of reciprocity and mutual growth that strengthens user loyalty and platform advocacy.

Thriving Community: Nurturing Global Connections

MEXC’s vibrant community continues to flourish across multiple social platforms, with its X account followers almost doubling to 2.25 million. This substantial social media presence amplifies the exchange’s voice in cryptocurrency discourse and facilitates direct engagement with users and stakeholders.

Complementing its social media presence, MEXC’s Telegram ecosystem has expanded to include 193,000 members across various groups, creating dynamic spaces for real-time discussions, market insights, educational content, and peer support. These community hubs foster a sense of belonging among users while serving as valuable channels for information dissemination and feedback collection.

The robust growth of MEXC’s community ecosystem reflects the platform’s success in transcending its role as a mere trading venue to become a vibrant hub for cryptocurrency enthusiasts and professionals worldwide.

Customer-Centric Service: Setting Industry Standards

MEXC’s unwavering commitment to customer satisfaction is evidenced by its responsive and resourceful customer service team, which has successfully addressed over 1.1 million customer service requests in the past year. This volume underscores both the scale of MEXC’s operations and its dedication to providing timely assistance to users navigating the complexities of cryptocurrency trading.

Beyond routine support, MEXC’s customer service team has demonstrated exceptional value by helping users recover over $1.8 million in assets that might otherwise have been lost due to user errors, technical issues, or misconceptions. This recovery effort exemplifies MEXC’s proactive approach to customer service and its genuine concern for user welfare beyond transactional relationships.

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The quality and effectiveness of MEXC’s customer service infrastructure set new benchmarks for the industry, reinforcing user confidence and contributing significantly to the platform’s reputation for reliability and trustworthiness.

Looking Ahead: Charting the Course for Future Growth

Behind the impressive growth figures lies the comprehensive result of MEXC’s ongoing investment in core trading infrastructure, rapid asset listings, enhanced user experience, and region-specific strategies. MEXC has evolved from its former position as a market follower to establish itself firmly among the world’s elite cryptocurrency trading platforms, demonstrating leadership through innovation and consistent performance excellence.

As MEXC embarks on its eighth year, the exchange stands poised for continued innovation and market leadership. Built on a foundation of user trust, technological excellence, and community engagement, MEXC is strategically positioned to navigate the evolving cryptocurrency landscape.

The impressive metrics across all business areas highlight MEXC’s successful execution of its strategic roadmap and adaptability in a dynamic industry. With its proven track record and clear vision, MEXC remains committed to providing a secure, efficient platform for cryptocurrency enthusiasts worldwide, continuing to shape the future of digital finance.

About MEXC

Founded in 2018, MEXC is committed to being “Your Easiest Way to Crypto.” Serving over 36 million users across 170+ countries, MEXC is known for its broad selection of trending tokens, everyday airdrop opportunities, and low trading fees. Our user-friendly platform is designed to support both new traders and experienced investors, offering secure and efficient access to digital assets. MEXC prioritizes simplicity and innovation, making crypto trading more accessible and rewarding.

MEXC Official Website｜ X ｜ Telegram ｜How to Sign Up on MEXC

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The Art Conservation Project will help restore art from around the world; Sydney Opera House and National Portrait Gallery among recipients

CHARLOTTE, N.C., April 29, 2025 /PRNewswire/ — Sixteen cultural institutions have been named as grant recipients of the 2025 Bank of America Art Conservation Project. The selections represent a wide array of artistic styles, media and cultural traditions across the United States, Europe, Asia, Australia and Latin America. 

Bank of America’s Art Conservation Project began in 2010 to help address the critical need to preserve artwork for future generations.  Since then, more than 275 grants have been awarded in 40 countries to conserve paintings, sculptures, works on paper, manuscripts and archeological pieces.

This year’s projects include:

• Possum Dreaming by Michael Nelson Jagamara and Salute to Slessor’s 5 Bells by John Olsen at the Sydney Opera House
• The Blinding of Samson by Rembrandt Harmensz Rijn at the Städel Museum in Frankfurt
• A Rake’s Progress by William Hogarth at Sir John Soane’s Museum in London
• More than 100 paintings of American Presidents at the National Portrait Gallery in Washington, D.C.
• La Debutante by Roberto Matta at the Museo de Artes Visuales in Chile
• Triptych on the East Wall of the Rothko Chapel in Houston
• The Henriot Family by Pierre-Auguste Renoir at The Barnes Foundation in Philadelphia
• Roadwork by McArthur Binion at the Detroit Institute of Arts
• Zun Wine vessel in the shape of an owl at the Minneapolis Institute of Art
• Eagle Eye by Nam June Paik at the Ackland Art Museum at UNC at Chapel Hill
• Lipstick (Ascending) on Caterpillar Tracks by Claes Oldenburg at the Yale University Art Gallery in New Haven
• Black Book of Hours (Horae beatae marie secundum usum curie romane) at the Hispanic Society of America, conserved in partnership with the TEFAF Restoration Fund
• Six Gothic artworks at the Museo Nacional de San Carlos in Mexico City
• Ezechiel stained glass windows at Sainte Chapelle in Paris
• Tableau Tir by Niki de Saint Phalle at the Moderna Museet in Stockholm
• Watching the Tidal Bore by Komuro Suiun at the Yamatane Museum of Art in San Paolo

“Art reflects the creativity, ingenuity and history of the people who created these works – and like everything, art is vulnerable to the passage of time,” said Brian Siegel, Global Arts, Culture & Heritage Executive at Bank of America.  “Together with some of the world’s finest cultural institutions, we can help preserve these works for future generations.” 

Watch Brian’s full message.

Each project is unique, and many rely on a wide range of advanced conservation techniques to restore and preserve them. For more details on the 2025 Bank of America Art Conservation Project recipients and what each conservation project entails, please view the 2025 Art Conservation brochure (PDF).

Previous Art Conservation Project grants have been used to restore iconic pieces by Claude Monet, Vincent van Gogh, Sam Gilliam and Jenny Holzer, as well as many other artists whose work holds great importance to cultural heritage and the history of art.

Bank of America supports and partners with a wide range of arts-focused nonprofit organizations to bridge our shared history, create opportunities, and generate local economic impact as one aspect of the bank’s many efforts to drive Responsible Growth.

Bank of America

Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving approximately 69 million consumer and small business clients with approximately 3,700 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 59 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries. Bank of America Corporation stock is listed on the New York Stock Exchange (NYSE: BAC).

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For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Reporters may contact:

AnnMarie McDonald, Bank of America
Phone: 1.332.234.8635
annmarie.mcdonald@bofa.com

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SHANGHAI, April 29, 2025 /PRNewswire/ — Cango Inc. (NYSE: CANG) (“Cango” or the “Company”), a rapidly expanding leader in Bitcoin mining, announced the initiation of coverage by Apollo Insights, an independent equity research firm.

Apollo Insights initiated coverage on Cango on April 22, 2025, following the release of its equity research report and investment thesis titled “Cango Catapults Into Bitcoin Mining”.

The equity research report highlights include:

• The Company has a market capitalization of $387.1 million
• The 12-month low and high for the Company’s stock is $1.33 and $8.00, respectively.
• Apollo Insights estimates that Cango’s fiscal 2025E revenue and adjusted EBITDA will reach RMB3,913.2 million and RMB665.6 million, respectively
• In fiscal 2026E, revenue and adjusted EBITDA are projected to reach RMB4,644.6 million (an 18.7% year-over-year increase) and RMB1,185.2 million (a 78.1% year-over-year increase), respectively.
• The firm attributes its favorable outlook for Cango to a supportive regulatory environment under the Trump administration and the potential for greater clarity in cryptocurrency regulations.

The initiation of coverage underscores Cango’s remarkable rise in the Bitcoin mining industry in a short time. The Company has developed its mining operation at a lower cost and reduced operational risks through strategic partnerships for acquiring Bitcoin mining equipment. This higher overall operating efficiency ensured the Company generated an average operating hash rate of 30.3 exahash/second (EH/s) in March 2025, placing Cango in joint second for the highest operating hashrate in the month.

The Company’s capital-light model has helped it accumulate holdings of approximately 2,475 Bitcoin as end-March 2025, valued at roughly US$211 million as of April 17, 2025. Cango has not sold any of its Bitcoin holdings yet. Overall, as of March 2025, Cango ranks as the fifth-largest Bitcoin mining player by deployed hashrate, achieving 32 EH/s in just four months. The report projects that its deployed hashrate will reach 42 EH/s by the end of FY25E.

Since entering the Bitcoin mining industry in November 2024, Cango has expanded its global footprint across strategic regions. Its mining operations now span the U.S. (38%), East Africa (37%), Oman (15%), Paraguay (9%), and Canada (1%).

Click here to view Apollo Insights’ full equity research report and investment thesis on Cango.

About Cango Inc.

Cango Inc. (NYSE: CANG) primarily operates a leading Bitcoin mining business. Cango has deployed its mining operation across strategic locations including North America, Middle East, South America, and East Africa. Cango expanded into the crypto assets market in November 2024, driven by the development in blockchain technology, increasing prevalence of crypto assets and its endeavor to diversify its business. Meanwhile, Cango has continued to operate the automotive transaction service in China since 2010, aiming to make car purchases simple and enjoyable. For more information, please visit: www.cangoonline.com.

Media Contact

Juliet Ye
Cango Inc.
Tel: +86 21 3183 5088 ext.5581
Email: ir@cangoonline.com 

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