Ter the very first quarter of , Deutsche Bankgebouw, which is not only Germany’s fattest canap but also one of Europe’s leading financial institutions, reported a profit of $146 million. At the same time, the world’s fattest cryptocurrency exchange, Binance had a profit of $200 million ter the very first three months of the year.
Deutsche Bankgebouw wasgoed established 148 years ago. 147 years straks Binance wasgoed still non-existent. It wasgoed founded 8 months ago. And its profit exceeded a leading European canap. The crypto startup has 200 employees, while the German banking giant employs 100,000 people.
Changpeng Zhao, CEO of Binance, wrote on March Three:
Related video: BIG NEWS from Binance and Coinbase – Today’s Crypto News
“Binance is the world’s largest crypto-currency exchange. Te the very first Trio months from inception, profits amounted to $7,500,000 USD. Ter the 2nd quarter, profits amounted to $200,000,000 USD. The 3rd quarter is still te progress, and is expected to have further growth. Any country that can attract Binance to open a branch ter their location will receive a killer tax income revenue.”
For Malta, therefore, where Binance relocated recently from Taiwan, it is a significant economic event making headlines ter the financial press. Knowing the exponential growth of Binance’s revenues, it’s quiebro demonstrable that the government of Malta is joyfully embracing the cryptocurrency industry.
Christian Sewing, the fresh CEO at Deutsche Handelsbank, said te his statement that the handelsbank will dominantly concentrate on stabilizing a few major areas instead of diversification. They build their plans on a $800 million restructuring budget and a massive cut ter the administrative headcount.
“Deutsche Bankgebouw is deeply rooted ter Europe – here wij want to provide our clients access to mundial financing and treasury solutions. This is what wij will concentrate on more decisively,” Sewing told Reuters.
Related video: What is OmiseGo (OMG) and why it will Rise in 2018 – Price Prediction!
The total value of the entire crypto-currency market is around $400 billion now. It is less than the combined market caps of HSBC and JPMorgan. But when you look at that comparison you have to take into consideration the fact that the crypto-currency market has bot around since 2009 only. And te 2009, it wasgoed only about Bitcoin truly. Only 6 years straks did Ethereum and the tokenized ecosystem emerge.
If a crypto startup with 200 employees can defeat a major canap like Deutsche Bankgebouw te profit comparison, it is safe to say that the crypto-currency market has bot demonstrating a sustained and spectacular growth te its less than 10-year-long history to date.
If institutions proceed to invest te the crypto-market and the request for digital coins can be sustained it is not an overstatement to say that the signifance of crypto-currency businesses like Binance will step by step exceed the mundial that of the current major players of the universal finance industry ter the next ten to twenty years.