The Japan & Malta Based Exchange Giant Has Just posted It’s Second Most Profitable Quarter
- In Q3 2019, Binance brought in whopping $186 million in profits
- That’s up 56% from $119 million in Q2.
- The profit in Q3 was the second-highest in Binance’s history
- The highest profit was in Q4 2017
- Binance burns 20% of net profits on a quarterly basis.
- The exchange burned just over 2 million BNB tokens which equate to $37.2 million USD
- The exchange sits $1 billion in profit. Simply eye-watering!
- Overall things are looking super bullish over at Binance
- Unbelievable profit margin considering the see sawing of the current market
- Binance recently introduced margin trading
- They succesfully launched an IEO launchpad platform earlier in the year
- They are also launching a lending platform
- Rumours of getting into the banking sector with polychain.
- They remain the most powerful exchange in the cryptoshere
Uncle Bob is veteran of the crypto game. None of what is written should be taken as financial advice and before investing everyone should do their own due diligence.
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