Binance Q1 2018 profits are surpassing Deutsche Bank’s and is getting close to that of Nasdaq’s, claims Dovey Wan, the managing director of DanHua Capital who is also a crypto investor. She took to Twitter to provide an insight into the crypto industry and pointed out that this year, Binance is outperforming Deutsche Bank in Q1.
According to EthereumWorldNews, she even posted an image backing his claim. The image shows a comparison between Deutsche Bank & Binance. According to the post, in Q1 2018, Deutsche Bank, one of Europe’s foremost financial institutions for more than a century made a profit of $146 million after operation costs were fulfilled and salary of over 100,000 employees were given.
Wan tweeted, “Binance now has like 300ish employees, NO headquarter, NO central campus, even the founders are constantly on the move intercontinentally. The friction of communication has to be tiny in order to get things done in such fashion which is unbelievable for traditional corp structure”
While, on the other hand, cryptocurrency exchange, Binance, founded only in July 2017 made a profit of around $200 million. She event went on compare Binance and the Nasdaq capital markets exchange. She pointed out that Binance’s Q1 profits were ‘only’ $9 million less than that of Nasdaq’s.
However, the post sparked conflict with some saying it’s like comparing apples to oranges since the firms are of separate industries and are of separate structures. It is to be noted that the Binance’s CEO has previously said that he expects the firm to pull around $1 billion in profits in 2018. According to Changpeng Zhao, the company now supports over ten million customers, generating $1.5 billion in trade volume each and every day.
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