cz is out, this is definitely comparable to Satoshi Nakamoto!
Why do I say that? Let’s first get to know cz, and then I’ll tell you my opinion at the end of the article!
1. CZ Entrepreneurship History
2013, Jiangsu.
Several middle-aged people were sitting together playing cards, an ordinary private room and ordinary Jiangsu Mahjong.
The middle-aged men drank tea and chatted about BTC's recent trends and future developments.
2013 was the year of the great bull market for BTC, and sitting at the table was the boss of China’s first exchange, Bitcoin China, Li Qiyuan.
At that time, few people had heard of Bitcoin, and no one believed that Bitcoin would have any future development.
However, Li Qiyuan casually said that Bitcoin has been released since 2008 and has not had any bugs or mistakes so far.
The speaker may not have intended it, but the listener may have taken it seriously. As a programmer, CZ was very shocked. What kind of program can run continuously for 5 years without any bugs?
Although CZ had heard of $BTC a long time ago, the fact that the program had no bugs still filled CZ with curiosity.
However, when asked about the profits of Bitcoin China, Li Qiyuan told CZ that the exchange is just a platform for selling shovels and water and does not directly participate in transactions, so Bitcoin China is quite profitable.
In 2013, Bitcoin China’s net profit should be around 200 million, and it is such a simple platform program that can generate so much income.
CZ secretly swore that he would also set up an exchange when he returned. Although he might not be the first exchange in China, he could make it the best exchange in the world.
Therefore, Binance was born. At that time, Cz just wanted to make some extra money. After all, he was not born into a famous family!
in the country, eating is the top priority!
2. History of Binance
In 2017, CZ founded Binance, but the development of Binance has been full of twists and turns!
In 2017, the veteran in the cryptocurrency circle interned at a fund company. At that time, this fund company was thriving in the traditional industry and also invested a small amount in the cryptocurrency circle.
Therefore, the owner of this fund received two investments that year, one was Sun Ge’s TORN, and the other was Binance platform coin fundraising.
At that time, because the boss wanted to make quick money, he put a small amount of funds into the cryptocurrency circle. The first investment he received after entering the cryptocurrency circle was the Binance platform coin fundraising.
The fundraising amount needs to be above 1 million, and Binance will also give the fundraiser equivalent BNB. If you believe that Binance can become one of the top exchanges, then BNB will bring you huge value returns.
As a traditional investor, the boss of Lao Siji invested in Binance's BNB without hesitation, thinking that he would get double the return.
However, half a month after Binance raised funds, China issued a policy to crack down on domestic exchanges, and a large number of exchanges went overseas. Binance was one of the first exchanges to go overseas that year.
At this time, the boss asked the old driver to ask if the previously raised funds $BNB could be refunded?
After a month of communication, the boss finally withdrew from his BNB. The reason he gave was that he could do whatever he wanted in China!
But he is abroad and he has run away. How can I find him?
Last year, the old driver met this former boss again. As soon as he drank and mentioned Binance, he began to slap himself in the face, muttering: Why the hell should I ask for a refund? It's not much.
However, this investor suffered huge losses from his heavy investment in ICP and now lives a life of ease.
From the investment story of that year, we can see that the founding of Binance was full of twists and turns. A newly established company was asked to go overseas and develop customers in an unfamiliar place.
Generally, such companies have to go through many hardships to survive.
3. Now that CZ is free, what will he do in the future?
From 2017 to 2024, in just 7 years, Binance has grown into a giant, and CZ has become the soul of the cryptocurrency circle.
So let’s discuss, what will CZ do after he gets out of prison?
cz may change from a representative of Binance to a representative of the cryptocurrency circle. He will also withdraw from the daily management of Binance and only participate in major decision-making.
As CZ gradually handed over the daily operations of Binance to other executives, Binance, like a mature organization, has been steadily moving forward under the leadership of Richard and He Yi. These two senior leaders, one is a mature professional manager and the other is a co-founder of Binance, their sincere cooperation ensures the continued development and stability of Binance.
In the past, Binance has experienced some uncertainty, but today, these factors no longer dominate its outlook. Binance now fully embraces regulation and has obtained 19 regulatory licenses around the world, the most in the industry. Such achievements not only reflect Binance's compliance and transparency, but also set a new benchmark for the entire industry.
As the largest shareholder of Binance, CZ will still have a say in the company's major decisions within the scope allowed. This arrangement will help appease those users in the community who are concerned that CZ is no longer directly involved in operations and ensure the stability and continued development of Binance.
In the future, CZ will continue to contribute to the development of the cryptocurrency industry with his unique perspective and rich experience. From education to industry adoption, CZ's influence will be reflected on a wider level. Under the leadership of the existing management, Binance will continue to move forward in the direction of compliance and steady development, maintaining its leading position in the global cryptocurrency market.
So, 2024 is a very ordinary year in history, but cz single-handedly embraced regulation and accepted punishment, completely breaking down the barriers between the crypto industry and government compliance, and paving a wild, compliant and effective path for all projects, companies and individuals in the global crypto industry. Move forward without worrying about the sword of Damos that may fall at any time due to regulatory uncertainty!
Because of cz, today we see the compliance of Bitcoin, $ETH and #ETF✅ passed, we see big institutions rushing into the market, and we see the encryption industry slowly entering the public eye, allowing more ordinary people to participate in it and change their lives!
It can be said that Satoshi Nakamoto alone created a model for the digital currency system!
What's more, it should be said that cz sacrificed himself to bring the crypto industry to the forefront and popularize it!
In general, CZ is not only closely linked to the future of Binance, but also heralds a bright future for the entire cryptocurrency industry.
