Changpeng Zhao, One Of The Richest People In Cryptocurrency
Changpeng Zhao is a business executive, who founded Binance, he is also the CEO. Binance is one of the world’s largest cryptocurrency exchange. Zhao was previously a member of the team that developed Blockchain.info and also served as chief technology officer of OKCoin.
Changpeng Zhao History
Zhao was born in Jiangsu province, China. Both of his parents were educators; his father, a professor, was labeled a “pro-bourgeois intellect”and temporarily exiled shortly after CZ was born. . Later, he moved with his family to Vancouver, Canada.. in the late 1980s. When he was a teenager, worked flipping burgers at McDonald’s and working overnight shifts at a gas station.
Zhao attended McGill University in Montreal, where he majored in computer science. After college, Zhao started working for the Tokyo Stock Exchange, and he also worked at Bloomberg Tradebook. But even after the 27-year old coding whiz was promoted three times in less than two years to manage teams in New Jersey, London and Tokyo, Zhao became impatient. So in 2005 he quit and moved to Shanghai to start his Fusion Systems, a company known for building some of the fastest high-frequency trading systems for brokers.
Later in 2013, Zhao learned about Bitcoin from a venture capitalist with whom he played poker. Same year he worked for cryptocurrency projects like Blockchain.info, or as chief technology officer of OKCoin. By the way, at this period he worked closely with well-known Bitcoin evangelists like Roger Ver and Ben Reeves.
However the icing of the cake was in 2017 when Zhao left OKCoin to start a cryptocurrency exchange called Binance. He launched the company, following a $15 million funding raised during an initial coin offering. In less than eight months, Zhao grew Binance into the world’s largest cryptocurrency exchange by trading volume, as of April 2018. In February 2018, Forbes Magazine placed him third on their list of “The Richest People In Cryptocurrency”. Arround September 2018, His network had an stimated value of $1.4 billion.
Binance “The Exchange”
Binance supports a lot of coins, working with more than 100 wallets and also more than 200 trading pairs. Zhao explained that his team only welcomes projects that have strong credibility, user base, and liquidity. He said:
“We’ve received over 5000 applications for coin listings”
Seven months ago Binance didn’t exist. Since then, its 1.4 million-transactions-per-second capability have attracted more than 6 million users, making it the world’s largest crypto-exchange. Changpeng Zhao also said:
“No decentralized exchange today can handle our volume, and none are as secure as we are”
How ever since its July initial coin offering, Binance token BNB has rised from about 10 cents to $23, but now it is only arround 10$ giving it a market capitalization of $1.1billion.
Have you ever used binance? What “CryptoCelebrities” histories would you like to read about here in CoinDiary?