Translated Letter 6:
Dear Judge Jones:
United States Federal Court
700 Stewart Street, Suite 13128
Seattle, WA 98101-9906
Dear Judge Jones:
My name is Ron Cao, and I am a founding partner of Sky9 Capital. After growing up in Boston and attending college at MIT, I moved to Silicon Valley to work at Intel and later became a venture capitalist. For the past 24 years, I have built technology startups in the United States and Asia as a venture capitalist. Sky9 Capital is an international early-stage venture capital firm, with partners advising funds with over $1.8 billion in assets and offices in Singapore and China. I am writing to offer my unwavering support to Changpeng Zhao both personally and professionally.
I have known Changpeng Zhao for about 18 years, and we quickly became friends after being introduced by our entrepreneurial circles. Changpeng Zhao is a few years younger than me and, like me, immigrated to North America from China. From an early age, our parents instilled similar core values in us, with a strong emphasis on hard work and educational excellence. After studying computer science at Canada's prestigious McGill University, CZ started his career at Bloomberg before embarking on his entrepreneurial journey.
CZ is a builder and technologist focused on technologies with global impact. I met CZ after he founded his first company, a technology consultancy that built on his software development expertise. He wanted to explore whether he could build a larger product business. With this goal in mind, CZ discussed various entrepreneurial ideas with me and others. His initial main ideas were around disrupting traditional internet and mobile technologies, but when blockchain began to emerge, CZ became very interested and wondered how to leverage this new platform. In 2013, we first discussed Bitcoin and blockchain technology, and it was clear that CZ was very interested in the potential of this new innovation. He quickly knew that he wanted to dedicate the next chapter of his career to this field and its ability to bring positive change to society, and that was the genesis of Binance.
CZ wanted to build a business with long-term impact and an institution that would last.While many initial startups in the blockchain space are focused on short-term returns, what stands out about CZ is his unique desire to build a world-changing company focused on financial trust and security. As he embraces blockchain technology, there are already many exchanges on the market, but existing players lack many of the consumer protections common in the financial services and online brokerage industries.
CZ has indeed acknowledged his mistakes and is taking full responsibility and accountability. I believe that after pleading guilty to the court and agreeing to pay a fine, in addition to making amends for these mistakes, CZ and Binance as an institution will emerge stronger by learning from these oversights. CZ is still in the prime of his career, and with real-world experience as a guide, I firmly believe that CZ will apply the lessons learned in building Binance to continue to contribute positively to society. Technology will continue to shape our society in unimaginable ways, and I believe CZ will be a significant industry leader who can help consumers embrace these new technologies.
Thank you for considering and taking the time to read my support for CZ. I ask that you consider leniency given CZ’s outstanding history and his ability to make a positive impact on society, while noting his remorse and his leadership role as he takes responsibility. Changpeng Zhao has a strong network of mentors, investors, and executives who will support his personal growth and learning from these mistakes.
Sincerely,
Ron Cao
Founder and Managing Partner
Sky9 Capital
#ChangpengZhao#
