04-27-2018: Binance Surpasses Deutsche Bank Profitability at $200 Million

Andreessen Horowitz, one of the world’s largest venture capital firms, is rumoured to be starting its own cryptocurrency only fund to exclusively invest in blockchain projects. This rumour comes about as 2 job openings are listed for the company for a full time cryptocurrency lawyer and finance manager (livecoinwatch).

Binance, one of the world’s largest cryptocurrency exchanges by market volume has surpassed the largest German bank, Deutsche Bank, in profitability this quarter. Binance is less than a year old, and has 200 employees and made a profit of close to $200 million dollars this quarter. Deutshe bank, which has been in operation for almost 150 years and has 10,000 + employees listed a profit of 175 million this quarter (cnn).

Kyber network has announced another partnership and integration, this time with My Ether Wallet. This will allow users to instantly swap/trade tokens directly from MEW, over the Kyber Network. They stated “This partnership with the Ethereum wallet giant is a validation of Kyber Network’s steady growth and product development. We are pleased to report that our platform has been running smoothly on the Ethereum network since February and we are confident of its capability to handle greater volumes than ever before.” This announcements comes as steady growth for Kyber as they only just recently announced an integration with the mobile ethereum wallet, imToken (Kyber Blog).

Due to a system glitch users of the new South Korean exchange, cashierest, were able to withdraw up to 5 x their current holdings on the platform. The exchange is now asking for users to return the extra coins that were withdrawn within 24 hours, or they will be seeking litigation against any customers who do not comply. The cost of this “glitch” is reported to be just over $900,000 USD (CoinGeek).

And lastly, a brothel in Nevada has accepted its first cryptocurrency payment, when a staff took a 4 figure payment via bitcoin for a client. The owner gave a statement about the new payment method stating “We have some of the richest men in the world coming in and out of my brothels. Our high-dollar clientele is accustomed to getting anything they want here, so when I started hearing requests from them to look into accepting Bitcoin, I took those suggestions very seriously.” (bitcoinist).

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