Binance founder and CEO, Changpeng "CZ" Zhao, has been named one of the world's richest individuals.
The head of the cryptocurrency exchange company is said to have assets of USD 96 billion or equivalent to Rp. 1,370 trillion.
During Luna's crypto crash some time ago, he shocked the virtual world because he said the phrase 'poor again'. However, it seems that CZ is already used to a simple life.
CZ didn't like and didn't even own any luxury items, including cars. The reason is, the wealth owned is actually used for charity.
CZ started Binance from a poker table and faith. When her mother and friends thought what she was doing was crazy, Shizu kept believing and trying.
"When you know you are right, prepare the stamina to survive, until other people realize it," said CZ in an interview with Nas Daily quoted Thursday (2/6/2022).
CZ first heard of Bitcoin from his partner while playing poker.
"When I heard it I didn't know what it was, but it sounded really good. Bit.. Coin. That's a very nice name and two of my friends said it was money for the internet, so I found it very interesting,". said CZ
From his interest, CZ started to research and download the Bitcoin White Paper. He printed them and read them one by one.
"This White Paper is only nine pages long but it is the future of finance," explained CZ.
A few months later CZ was convinced that cryptocurrencies would be the future. According to him, the same as the first time using email.
He explained that because email was so easy to use from the start, just like social media, he knew it was so easy and would stick with it.
"When I find my bitcoins the year will last," CZ asserts.
His great faith made him sell his apartment and invest in bitcoin for US $ 1 million which made all his friends say that he was crazy especially after that he also didn't work, so CZ is not only homeless but also unemployed.
Two months later Bitcoin fell by 70% and CZ lost US $ 700,000 thousand so it was considered stupid by the mother.
"So my mom was like, you stupid kid and why would you do that when you already have a good job at the company," she recalled.
Meanwhile, Shizu still thought that she had to endure because this was a huge opportunity and would only be taken by a small number of people.
"I'm not going to miss this because it will be great and it's the opportunity of a lifetime," said CZ.
Since then CZ stopped playing poker and left his friends and all his hobbies. He spent from 9 am to late at night, seven days a week for five years working on Blockchain Technology. Eventually he started Binance, where people can buy and sell crypto to each other.
Unexpectedly, within five years Binance became the largest Crypto Exchange with 100 million users.
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