How CZ built Binance and became the richest person in crypto

Changpeng “CZ” Zhao, the founder and CEO of world cryptocurrency alternate Binance, is among the most influential crypto personalities at present, however his story is a real rags-to-riches one.

CZ was born in a village in Jiangsu, Shanghai, and his household migrated to Vancouver, Canada, within the Nineteen Eighties when he was 12. He studied pc science engineering in faculty and spent the subsequent few years constructing buying and selling methods for common exchanges such because the Tokyo Inventory Alternate and Bloomberg Tradebook.

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CZ left his profitable job in 2005 to start out his personal enterprise and moved again to Shanghai. In 2013, after eight years of constructing his firm, CZ lastly got here throughout Bitcoin (BTC) — which modified every thing for him.

The Bitcoin bug bit CZ laborious, and he went all-in on the nascent digital forex in 2014, promoting his home and shopping for BTC at a median worth of $600 per coin. Bitcoin’s worth fell quickly after and crashed to $200, however CZ’s perception within the tech helped him hodl by means of the bear market. After two years, the worth jumped again up.

CZ began his personal crypto enterprise almost 4 years after coming throughout Bitcoin, launching Binance in July 2017 on the peak of the preliminary coin providing period. 5 years later, Binance is among the main world crypto exchanges when it comes to each day buying and selling quantity.

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