Deutsche Bank Performed Worse Than Cryptoexchange

ECOS
ECOS
Sep 7, 2018 · 2 min read

Every crypto skeptic should know that over the first quarter of 2018 one of the pillars of the modern European banking system — Deutsche Bank — has made 54 million dollars less than the Binance cryptocurrency exchange! The net income of the bank was reported to be 146 million, compared to 200 million earned by the cryptocurrency exchange.

One may say the difference is not that big. But here’s the thing: Binance achieved this in just 8 months while the bank has been around for 148 years and still underperformed in comparison to a trendy cryptocurrency platform. Besides, Binance needed 100 times less staff than the bank had to achieve these figures — the exchange employs less than 1% of people employed in the entire Deutsche Bank structure.

Such income figures can be construed as a signal to begin transferring money from bank stocks to cryptocurrencies, buying tokens and trading on exchanges. This would be the start of a grand migration of capital that also foreshadow new funding shortfalls for the banking sector (which is only natural if investors stop depositing money in banks). The first signs are already here: investors having seen the Q1 results have sold off American depositary receipts (ADR) on Deutsche Bank shares. As a result ADRs have dropped to a historic low losing 67% in value.
Let’s see what happens next!

ecos.am

Unique ecosystem for blockchain and AI startups development. We create unique hub in a free economic zone to launch and develop high-tech companies www.ecos.am

ECOS

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ECOS

Unique ecosystem for blockchain and AI startups development. https://ecos.am/

ecos.am

ecos.am

Unique ecosystem for blockchain and AI startups development. We create unique hub in a free economic zone to launch and develop high-tech companies www.ecos.am

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