Binance Does It Again: Passes Deutsche Bank Quarterly Profits, Continues Leading With Token-based Exchange Model
I am the author of this article and the original piece of content can be found here on my Medium blog . At the end of last year, I wrote an article entitled Binance Exchange: Fueling a Hot New Era of Token-based Exchange Models? , diving into the innovative token-based exchange model Binance brought to the competitive table. Unarguably, their business model along with being at the right place and time has catapulted them to being the top cryptocurrency exchange in the world — 7-months after starting the business. This is unheard of in the world of business . A startup becoming the all hailed unicorn within MONTHS. Unicorn = billion dollar valuation . I don’t know what Binance’s valuation is or if we can even value the organization from a traditional valuation standpoint; however, their 24-hour volume as I type this is $3.9 billion . They charge a 0.10% trading fee — we’ll do the math further down. This comes ...