- The first quarter reveals that Binance has been more profitable than the biggest German lender Deutsche Bank
- NASDAQ CEO does not exclude the exchange could become a cryptocurrency platform in a regulated market
- Bitcoin bounces back from a pivotal support area, Dash moves from its local lows as well
All around the world companies are reporting their financial results for the first quarter, the German largest lender Deutsche Bank has already done so showing a decent $146 million profit. This fallout might look impressively, but it’s still short of the outcome presented by Binanace, the international multi-language cryptocurrency exchange founded in 2017. The cryptocurrency company recorded as much as a $200 million net profit during the same period of time vastly surpassing the decent numbers revealed by Deutsche Bank. This could be yet more astonishing when we take into account that the cryptocurrency start-up did not even exist eight months ago while the German bank was established 148 years ago. Employment differs remarkably as well, the crypto-related firm hires only 200 employees being incomparable to 100k employees being hired in one of the biggest European bank. Binance has its third quarter of activity in progress, and according to the company’s CEO Changpeng Zhao this quarter should record further earnings growth. He also added that "any country that can attract Binance to open a branch in their location will receive a handsome tax income revenue".
Dash bounced off its support placed at $440+ being underpinned by a 38.2% retracement. While the virtual currency could continue rising over the next days, a short-lived pullback might be in place as well after the price drew a bearish engulfing in a H4 interval. Source: xStation5
According to the NASDAQ’s CEO Adena Friedman along with the maturing space the exchange is open to becoming a platform for trading digital currencies. Of course, this decision will not be made suddenly, but certainly NASDAQ could consider becoming a crypto exchange over time. Friedman added "I believe that digital currencies will continue to persist it’s just a matter of how long it will take for that space to mature". Although these are long-term prospects the company does not sit around, and it announced a collaboration with cryptocurrency exchange Gemini on Wednesday. The deal gives Gemini access to NASDAQ’s surveillance technology in order to help make sure the platform provides "a fair and rules-based marketplace" for its own participants, Gemini CEO said. Finally, it’s worth noting that while Friedman sounded upbeat with regard to cryptocurrencies in general, she expressed much less optimistic stance when it comes to the fundraising process aka an initial coin offering (ICO).
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