In July 2017, Changpeng Zhao founded Binance, a cryptocurrency exchange with a vision to make digital asset trading accessible to the masses. Binance quickly gained attention for its user-friendly interface, low trading fees, and an ever-expanding list of supported cryptocurrencies. Under CZ's leadership, Binance became the go-to platform for traders and investors worldwide.
One of the most significant innovations introduced by Binance was the creation of its native cryptocurrency, Binance Coin (BNB). BNB has since become a critical component of the Binance ecosystem, used for trading fee discounts, participating in token sales on the Binance Launchpad, and even as a means of payment for various services.
Global Expansion and Regulatory Challenges
Under Changpeng Zhao's leadership, Binance expanded rapidly, opening offices and launching services in various countries. The exchange's global footprint brought both success and challenges. While Binance's user base grew exponentially, it also faced regulatory scrutiny in multiple jurisdictions. Zhao and his team worked diligently to navigate the complex regulatory landscape, ensuring that Binance remained compliant with local laws while continuing to serve its users.
