Binance profit to reach 1 Billion USD in Year 2018, already surpassed Deutsche bank

World's largest cryptocurrency exchange, Binance is expecting a profit to reach 1 Billion USD in Year 2018, CEO Changpeng Zhao told to Bloomberg.

Earlier this year, Binance has already reached to profit of $7,500,000 USD in Q1 and $200,000,000 USD in Q2. It is surprising that Binance surpassed Germany’s largest and one of Europe’s biggest banks in terms of profitability, Deutsche bank. This bank has established 148 years ago and currently having more than 1000 employees whereas Binance has just 200 employees and not completed even a year.

Binance's total traded volume is 1.2 Bln USD in last 24 hours. There are around 10 Million registered users on Binance.

Even the Bitcoin price ranging between 5-7K in last few weeks but they are expecting to 1 Bln USD profits by the end of 2018. Their biggest competitors are Huobi, Bitfinex and Coinbase which is planning to expand its operations in Japan very soon.