Binance Founder CZ's Journey: From Fries to Crypto Empire

CZ, founder of Binance, emerged from a 4-month prison stint in 2024, a saga that began with humble beginnings. Born in China, he moved to Canada at 12, working odd jobs like frying fries to support his family. His knack for coding led him to McGill University, but he dropped out to pursue entrepreneurship, inspired by books like Rich Dad Poor Dad.

He ventured into finance, developing trading software for Bloomberg, then pivoted to crypto in 2013, investing $1 million in Bitcoin. Disagreements at OKCoin led him to launch Binance in 2017, which quickly rose to prominence with innovative strategies like the BNB token and a focus on crypto-to-crypto trading.

CZ's wealth soared to $900 billion in 2021 but plummeted amid market volatility. Legal troubles ensued, culminating in a $43 billion fine and his resignation. Despite this, Binance thrived under new leadership.

Now free, CZ plans to focus on education, tech innovation, and philanthropy, signaling a new chapter beyond the crypto realm.

Key Terms:

• ICO (Initial Coin Offering): A fundraising method where new projects sell their underlying crypto tokens in exchange for capital.
• BNB: Binance Coin, a utility token used within the Binance ecosystem for discounted trading fees and other benefits.
• CTO (Chief Technology Officer): The executive responsible for overseeing the technological direction and development of a company.