From a $700K Loss to $60B in Net Worth -Breaking
[ad_1]
© Reuters CZ’s Humble Beginnings: From a $700K Loss to $60B in Net Worth- NasDaily features Binance CEO Changpeng Zhao in a featurette.
- This featurette tells CZ’s story before he was the richest man in crypto.
- CZ claims that he did not sell during the 70% crash 2013.
On May 5, Nuseir Yassin – better known as Nas Daily – posted a video featuring Binance’s CEO Changpeng Zhao (CZ). The 5-minute video showed a glimpse of CZ’s life, his journey with cryptocurrency, and the beginnings of Binance. CZ is interviewed by Nuseir and then narrates his tale.
You must check out @cz_binance’s story! pic.twitter.com/ddvfXBkrzh
— Nuseir Yassin (@nasdaily) May 5, 2022
This video shows the humble origins of CZ, before he became the richest person in crypto. In fact, the video begins in 2013 with CZ losing $700,000 as BTC’s price crashed 70%. Undeterred, he created Binance aiming to become a top 10 exchange in three years — accomplishing it in only six months. He was the first crypto entrepreneur to achieve the highest wealth.
Bitcoin, cryptocurrency, back in 2013-2014 for me was one of those unique opportunities where it was early stage, only a small number of people got it, and it’s going to be a huge future. I told myself ‘I’m not going to miss it’.
When asked about CZ’s net worth and how he felt about having so much money, the Binance CEO had the following to say: “I don’t think money is the most important factor. I don’t focus on that. I focus on building products that people will use — how to make that the most efficient, most impactful thing in the world.”
In a Twitter (NYSE:) exchange under Nas Daily’s video, a viewer asked CZ if he ever sold when the market crashed by 70% in 2013. CZ responded with a simple “never sold”.
In recent news, it was revealed to the public that Binance committed to contributing $500 million to help fund Elon Musk’s takeover of Twitter. Binance is not the only company that funded this offer.
[ad_2]