CZ Shares the Two Big Lessons From the Binance-FTX Saga
"Do not use a token you created as collateral" and "do not borrow money if you run a crypto business,"
Changpeng Zhao, or CZ, is one of the founders and the current Chief Executive Officer (CEO) of the leading cryptocurrency exchanges, Binance.
Previously, Zhao was part of the team that developed the popular resource Blockchain.info, and he has also served as the Chief Technology Officer (CTO) of OKCoin.
Born in China’s Jiangsu province in the year of 1977, Zhao, along with his family, moved to Vancouver (Canada) in the late 80s.
In February 2018, Forbes Magazine ranked him as the third on the “Richest People in Cryptocurrency” list.
Under his watch, Binance has managed to become one of the leading cryptocurrency exchanges. Not only does it see the highest amount of adjusted (real) trading volume in the years of 2017 – 2019, but it strives to create and to bring digital assets to the masses.
Another exciting thing about Changpeng Zhao is that he is particularly active on Twitter. He is regularly updating and interacting with his followers on the latest Binance news.
This is how Gin Chao, Binance’s CSO, describes CZ in an interview with CryptoPotato during 2019:
“CZ wants to keep the organization flat and entrepreneurial, and he’s done a pretty good job of maintaining that so far.”
"Do not use a token you created as collateral" and "do not borrow money if you run a crypto business,"
Responding to potential Alameda's involvement, CZ stated that he plans to stick with the "free market."
SBF finally responded to the recent comments amid the FTT liquidation from Binance's CEO.
Binance’s decision to liquidate Its entire FTT holdings pits two of the biggest crypto exchanges against each other.
Besides existing taxes, a new draft ITR form suggests that foreign businesses could be taxed if they have got a
Binance invested $500M in the Musk-Twitter deal, believing the entrepreneur could turn the social media platform into a "free speech"
Elon Musk assumed ownership of Twitter and reportedly fired the company's CEO.
CZ said the team is closely working with law enforcement agencies to chase the "bad players."
CZ stated that Uniswap "misunderstood" the situation.
The proper regulatory framework from the US will benefit the entire crypto industry, noted CZ.