Binance Looking For $1 Billion In Profit This Year
According to an interview aired by Bloomberg today, Binance, the number one crypto exchange is expecting profits up to $1 billion this year.
Please read again: $1 billion.
If you take into account that Tesla is not yet profitable and that Apple's 2017 net turnover is $45 billion (whereas Binance moves more than $1 billion daily) these numbers are absolutely mind boggling.
It's not yet clear if the profits will come solely by margin trading, or if the Binance token - which is basically "money out of thin air" - will play a relevant role in these numbers.
What's clear, though, is that Binance's expansion to other markets, like Uganda, and the recent relocation to Malta, which just regulated crypto currencies, are definitely helping big time.
It's interesting to watch now what other players, like Coinbase or Huobi Pro, are going to do about this.
I'm a serial entrepreneur, blogger and ultrarunner. You can find me mainly on my blog at Dragos Roua where I write about productivity, business, relationships and running. Here on Steemit you may stay updated by following me @dragosroua.
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