Binance Founder’s Risky Journey in Crypto
Changpeng ‘CZ’ Zhao, the founder of Binance, shared the story of his success as a crypto entrepreneur. He made a daring decision to quit his job and fully commit to the crypto industry 10 years ago. Taking a big risk, CZ even sold his house to invest in Bitcoin. While the exact number of Bitcoin he owns is unknown, it is widely believed that he is one of the largest individual Bitcoin owners in history. Interestingly, CZ also holds a significant amount of Binance Coin (BNB), the exchange’s token.
CZ emphasized the risky nature of his decision and advised his followers that measured risks are essential for success in crypto. After quitting his job, he quickly found another opportunity in the crypto industry and enjoyed greater flexibility without having to go to an office.
The Grand Ending and CZ’s Voluntary Resignation
CZ successfully built Binance Exchange into the largest crypto spot and derivatives platform by volume. However, his tenure as CEO ended when he voluntarily resigned as part of a settlement with the United States Department of Justice (DOJ). Contrary to popular belief, CZ had previously expressed his willingness to step down from his role if there was a better fit for it. Richard Tend now serves as Binance’s CEO, and users are looking forward to a new era for the exchange.
Hot Take: CZ’s Journey Reflects the Importance of Measured Risks in Crypto
CZ’s journey in the crypto industry highlights the significance of taking calculated risks. By making bold decisions and fully committing to his passion, he achieved great success as a crypto entrepreneur. His story serves as inspiration for those seeking success in this field. However, CZ’s voluntary resignation from Binance also demonstrates that leaders should be open to change and willing to step aside when necessary for the betterment of the organization. The crypto industry is constantly evolving, and adaptability is key to long-term success.
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