Deutsche Bank (DE:DBKGn) has released its first-quarter net profits of €120 mln ($146 mln), down 79 percent from last year, CNBC reported today, April 26. The net profits make the Frankfurt-based,148-year old institution less profitable than the world’ top crypto exchange, Binance.
Less than a year old, and currently the world’s largest cryptocurrency exchange by trade volume Binance has to date posted quarterly profits higher than that of Deutsche Bank. On March 3, Binance’s CEO Changpeng Zhao, better know as CZ in the crypto industry, reported $200 mln in profits in the first ever second-quarter in the life of the exchange: