As Venezuela's political situation changes, the government has taken tough measures to deal with the tense domestic situation, including blocking important online services such as Binance, the world's leading cryptocurrency trading platform, and social media X. Binance's influence in Venezuela is particularly far-reaching. It is not only a portal for cryptocurrency trading, but also a major platform for stablecoins and Bitcoin trading that the people rely on when the Venezuelan currency Bolivar depreciates sharply.
Speaking of Binance and its soul behind it, Zhao Changpeng, his story is undoubtedly a legend in the cryptocurrency circle. Zhao Changpeng, known as the "cryptocurrency giant", has gone from obscurity to the top of the list of the richest Chinese in just four years. At the peak of his wealth, his wealth was as high as 500 billion. He is not only a firm believer who dares to "sell his house" to invest in the cryptocurrency business, but also an investor who has always been at the forefront of the industry.
Founding Binance:
Binance, a name that combines the concepts of "binary" and "finance", has rapidly risen to become a leader in global cryptocurrency exchanges since it was founded by Zhao Changpeng in 2017. It supports the trading of more than 100 cryptocurrencies, covering diversified products such as options, spot, U-based contracts and coin-based contracts, providing a broad trading stage for global investors.
Financing:
Looking back on Binance's financing history, Zhao Changpeng has demonstrated extraordinary financing capabilities and strategic vision. When Binance was first established, he successfully attracted the attention of Sequoia Capital. After several rounds of negotiations, Sequoia set a round A valuation of up to 500 million yuan for Binance and planned to invest 60 million yuan. However, just when everything seemed to be a natural outcome, the sudden change in China's regulatory policy - banning ICOs and closing cryptocurrency exchanges - brought a huge impact to the entire industry, and the price of the currency plummeted. Faced with this sudden change, Sequoia had to re-evaluate the investment risks, resulting in the delay in the arrival of investment funds. But even so, Zhao Changpeng still led Binance through those difficult years with his indomitable will and outstanding business acumen, and finally ushered in today's glory.
