Cz Binance (Changpeng Zhao)
The story of his rise and building the largest digital currency empire and how he ended up as the richest prisoner in the world
🧵Follow his story in Thareed 👇
1/🧵
CZ started in China. He was born in 1977, and his parents were teachers
Then, in 1989, he obtained a visa and went to Canada 🇨🇦
Due to his skill in technology, he worked for Bloomberg and Blockchain Info before entering the crypto field
2/🧵
In 2017, he entered the crypto field
He founded the Binance platform and his vision was for it to be the strongest platform
💡Information: Price $BNB from the beginning 👇
2017 : 2.2$
2018 : 10$
2019 : 21$
2020 : 35$
2021 : 669$ 😱
2022 : 398$
2023 : 271$
3/🧵
🌟 Indeed, Binance has seen a very strong demand due to the low commission, high security, and also their interest in the customer in the first place.
Under his leadership, the platform became the strongest in the world and its fame increased due to his innovations such as the BNB currency and the high liquidity on it 🔥
4/🧵
The beginning of the problems 🤔
After the famous crisis of the FTX platform, when the Binance platform liquidated more than $500 million of the remaining FTT currency, the platform literally collapsed 😱
Cz suggested he take over the platform
But due to internal problems, the deal failed
5/🧵
🌟 7 months ago, CZ Binance announced that he would step down from his position as CEO of the platform and confessed to the charges against him (money laundering).
He agreed to pay a fine of $50M million dollars, and the Binance platform agreed to pay a fine of $4.3B billion dollars 😯
6/🧵
Cz was sentenced to four months in prison in a Seattle court
He is currently considered the richest prisoner in the world, with a fortune estimated at $36 billion, according to Bloomberg 💰
7/🧵
This was the story of the most powerful character in Crypto
I hope you like the porridge and benefit from it, and do not forget to follow me @Z crypto - زي كريبتو
