Speaking of Changpeng Zhao, the story of this buddy is really more dramatic than the movie. At the beginning, he was the richest man in cryptocurrency in the eyes of Forbes, and that speed was like a rocket soaring into the sky.
But the good times didn't last long, no, recently he was targeted by the United States again, fined, imprisoned, and a series of blows, which made people sigh, the world is changing fast, and it is really overwhelming.
Having said that, Changpeng Zhao was a programmer from the beginning, but he has vision and courage. In 2013, during a poker game, he heard someone say "Bitcoin is the future", which was like lighting the fuse and made him interested in cryptocurrency.
Later, he even sold his property in Shanghai and put all his money into Bitcoin, which was a bold move at the time.
But fate made people, the price of bitcoin was cut in half, the price of real estate doubled, and this blow would have collapsed long ago if someone else had changed. But Changpeng Zhao is not an ordinary person, he chose to insist. In 2017, when the digital currency market was rising wildly, Changpeng Zhao saw an opportunity and founded Binance.
This platform allows users to trade a variety of virtual currencies and also circumvent all national monetary systems. In just half a year, Binance has attracted 6 million users, which is faster than a rocket.
In 2021, Binance's daily trading volume reached $76 billion, and Changpeng Zhao's net worth also soared, reaching $94.1 billion. It's a number that makes people's hearts beat faster when they hear it. But the good times were short-lived, and Binance's brutal growth attracted the attention of regulators.
China, Japan, and even the United States have banned Binance. Changpeng Zhao's Binance, from a hot trading platform, has become an orphan of the "wandering earth".
But Changpeng Zhao did not give up, he chose a new work model - no headquarters, online work. This model, while it sounds cool, is actually a desperate move. In March 2023, Changpeng Zhao was targeted by the U.S. Department of Justice, accusing Binance of violating U.S. sanctions.
In June, the S.E.C. filed 13 more charges against Binance and Changpeng Zhao. In the face of the heavy punch of the United States, Changpeng Zhao chose to reconcile and paid a huge fine. But the United States did not buy it, and tore up the settlement agreement, and Changpeng Zhao was eventually sent to prison.
In court, Changpeng Zhao expressed remorse and was willing to take responsibility. He said: "After this painful lesson, you have the ability and the will to turn a new leaf. But ironically, Changpeng Zhao's wealth and status did not exempt him from the law.
This can't help but make people feel that no matter how rich and powerful you are, everyone is equal before the law.
Changpeng Zhao's story is like a roller coaster, from peak to trough, from glory to downfall. His experience has taught us a vivid lesson: in front of the law, there is no so-called "richest man", only law-abiding citizens.
At the same time, it also shows us the double-edged sword effect of cryptocurrencies - it can make people rich overnight or have nothing overnight.
Changpeng Zhao's Binance, once a star in the cryptocurrency world, has now become a cautionary tale. It tells us that no matter how advanced the technology is, no matter how crazy the market is, we can't ignore the existence of the law.
This is because the law is the last line of defense for maintaining social order.