With the release of the 2022 Forbes Global Rich List, Zhong Shui, founder of Nongfu Spring, ranked 17th, and became the richest man in China with a value of $65.7 billion. Zhao Changpeng, the founder of Binance, ranked 20th in the four years of entrepreneurship and became the richest man in the cryptocurrency field with a value of 573.3 billion.
It should be known that Zhong Has been in business for several years to achieve today's achievements, and Zhao Changpeng has gained hundreds of millions of dollars in only 5 years of entrepreneurship and has become a leader in the field of digital currency.
Why can Binance become a wealth code for Zhao Changpeng to quickly obtain hundreds of millions of assets, and how does it have such a strong ability to absorb gold?
Initial exploration of cryptocurrencies
Born in Jiangsu, China, Zhao Changpeng moved to Vancouver with his family at the age of 12 and received a long-term education abroad. He studied computer science at university and has been working in it ever since.
As a programmer, he developed a system for matching trading orders for the Tokyo Stock Exchange, and also served as a technical director for Bloomberg in New York, developing futures trading software for it. In less than two years, he was promoted three times.
Still unsure of the status quo, he chose to leave shanghai in 2005 and set up his first company, Fusion Information Technology Co., Ltd., to develop the fastest high-frequency trading system for brokers.
In 2013, he learned about the cryptocurrency Bitcoin from a poker friend of his own. Having lived in different countries, he understood the inconvenience of cross-border remittances, so he developed a strong interest in cryptocurrencies, and then began to contact different cryptocurrency projects.
During his 8 months at Blockchain.info (online wallet service provider), he deepened his passion for cryptocurrencies by being responsible for developing products and reading Bitcoin-related materials, and strengthened his confidence under the influence of some industry giants.
In 2014, Zhao Changpeng sold his house in Shanghai, all of which was used to buy bitcoin, and had no other assets besides mobile phones, so he is also considered by cryptocurrency believers to be the first person to hold 99% of his assets in cryptocurrency.
In less than a year, Shanghai house prices doubled, but bitcoin fell sharply, in the face of huge losses in money, he did not choose to give up, but in the same year joined the domestic bitcoin exchange OK Coin, became the co-founder and chief technology officer, and was responsible for handling the international affairs of the enterprise.
However, due to the conflict between the two sides' cultures and values, Zhao Changpeng chose to resign.
Founded Binance and mastered the wealth code
After leaving OK Coin, Zhao Changpeng saw the popularity of the cultural goods trading industry market and founded Bijie Technology, which is responsible for providing trading systems for collectibles such as coins, stamps, and telephone cards.
Although the company has done a good job, he still wants to have his own exchange, so in June 2017, he chose to create Binance and launched his own blockchain currency, Binance Coin, and has since embarked on the road to billions of wealth.
Compared with other cryptocurrencies, Binance mainly wants to aggregate global high-quality blockchain assets to provide users with more convenient and secure services.
Binance provides a trading platform with an extremely low investment threshold for ordinary people, and in less than 10 days, the initial offering brought Binance $15 million in financing. In less than a year, it has attracted the attention of Black Hole Capital, Pan City Capital, Sequoia Capital and IDG Capital, and they all want to provide financing for them.
Since the price of Bitcoin soared from September to December 2017, the price rose from $3,000 to $20,000, a surprising increase, so people began to scramble to enter the cryptocurrency exchange.
During the bull market, the trading volume of cryptocurrencies broke the original record. At its peak, the daily trading volume of all exchanges and cryptocurrencies in the world reached $60 billion, while Binance accounted for one-sixth of it, reaching $10 billion.
Binance announced a profit of $200 million in just over 6 months of its establishment, shocking the entire blockchain industry. The rapid development of Binance has made Zhao Changpeng the third place in the first list of rich people in the digital currency field released by Forbes, and has been on the cover of Forbes Wealth Magazine.
With a large number of customers in just five years, it became the world's largest cryptocurrency exchange. Moreover, Zhao Changpeng also successfully realized the wealth password because he held 70% of binance's shares.
Why did Binance succeed?
Compared with hundreds of cryptocurrency trading platforms around the world, why has Binance been able to achieve great success and have a very high market share?
From the beginning, Zhao Changpeng paid special attention to Binance's processing speed, cared about user experience, and also knew how to attract users and increase user volume through new products. For example, Binance Launchpad, a tool that enables new tokens to be issued quickly, and Binance Launchpool, a tool that promotes cryptocurrency pledges.
Zhao Changpeng has a long-term vision and a brilliant strategy, and formulated a global and multi-ecological development strategy at the beginning of Binance's establishment. The far-sighted development strategy has accelerated binance's development in the blockchain industry.
Under the leadership of Zhao Changpeng, Binance has never forgotten its original intention, been down-to-earth, and taken into account industrial development while pursuing technological innovation, prompting the company to go further and further on the road of internationalization.
Binance has a unique internal management system, and currently employs about 3,000 people from more than 60 different countries and regions. Usually, the office is mainly used for remote collaboration using various office software.
Employees do not have a fixed office location, and only one computer is needed to ensure that they can handle work in a timely manner in different regions and at different times, which also greatly reduces the company's costs.
At the same time, Binance continues to expand into new areas and actively carry out new businesses on the road of development.
After the US Fortune magazine Forbes announced the listing plan, Zhao Changpeng intended to invest $200 million in its future parent company, hoping to identify and invest in some projects in each economic area and bring them into the field of cryptocurrency. Binance's success is no accident, they are able to start from the needs of users, with advanced development strategies, unique management methods and many other factors.
epilogue
Since founding Binance in 2017, in just 5 years, Zhao Changpeng has built it into the world's largest cryptocurrency trading platform with the largest trading volume. In fact, along the way, Zhao Changpeng is not smooth sailing, and has encountered many thorny problems and endured huge pressure.
At present, Zhao Changpeng has mastered the wealth password, on the road to becoming a giant in the cryptocurrency industry, Binance is definitely a strong competitor of other cryptocurrency exchanges, let us look forward to Zhao Changpeng to achieve another leap forward in Binance in the future!
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