Binance CEO Believes External Pressure Boosts Team Cohesion
Changpeng Zhao, the CEO of cryptocurrency exchange Binance, believes that the constant external pressure and “Fear, Uncertainty, Doubt” (FUD) surrounding the company have actually helped to create a strong and united team. Despite facing regulatory issues and negative media coverage, Zhao maintains that Binance cooperates with regulators and has been wrongly portrayed by some outlets.
Key points:
– Binance has been dealing with regulatory challenges from the SEC, DOJ, and other watchdogs.
– Zhao attributes the formation of a tight team to the external pressure and FUD.
– He dismisses the idea that team-building activities or inspirational speeches are the key factors.
– According to Zhao, external pressure is the secret ingredient that strengthens the team.
– Binance’s ability to withstand and overcome adversity has fostered a sense of unity among its employees.
In conclusion, Changpeng Zhao credits the external pressure and FUD surrounding Binance as instrumental in creating a strong and cohesive team. Despite the challenges the company has faced, its ability to navigate regulatory issues and stand firm against negative media coverage has brought its employees closer together. Rather than relying on traditional team-building methods, Zhao emphasizes the importance of external pressure in shaping a tight-knit team.
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