From Zero to Billionaire in under a year, Changpeng ” CZ” Zhao, the CEO of Binance has done it as reported by Forbes. Zhao later tweeted it was 20 years in the making.
Computer scientist and coding wizard
Zhao was born in Jiangsu, China to educator parents, his father a professor. In the 1980’s, the family emigrated to Vancouver and to make ends meet, CZ flipped burgers at McDonald’s and worked at a gas station.
Zhao attended McGill University in Montreal, thereafter, built various software applications for the Tokyo Stock Exchange and Bloomberg Tradebook.
A move to Shanghai saw the start of his company Fusion Systems – Fast high-frequency trading systems for brokers.
Zhao was first introduced to Bitcoin in 2013 by a venture capitalist friend and fellow poker player. He then joined Blockchain.info as head of development and moved on to OKCoin spot trading exchange.
During the 2017 ICO boom, Zhao decided it was the time to launch his own token crowdsale. $15 million was raised in Binance’s 200 million token crowdsale in July 2017. The Binance token BNB rocketed from about 10 cents to over $12.00 currently, a market cap of over $1.2 billion.
Binance, which was founded in China, recently moved offices to Japan after the Chinese government crackdown on cryptocurrency businesses.
Binance denied being attacked early March 2018, but several users reported that their altcoin holdings were liquidated unexpectedly and without consent. Read further. Binance reassured customers that their money was still in their accounts.
In a recent statement regarding future exchange development, Binance announced they want both, a centralised (Binance) as well as a decentralised exchange (DEX). Development is underway.
In March 2018 following the CoinCheck hack, the Japanese regulators also put the regulatory squeeze on Binance prompting Zhao to announce intentions to move the exchange to trailblazing Malta.
A welcoming tweet by Prime Minister of Malta, Joseph Muscat…
On 5 April 2018, Zhao aka CZ tweeted…
Follow CZ on Twitter – Click Here
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