Binance CEO rises to billions in less than 8 months

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Binance CEO rises to billions in less than 8 months

In less than eight months, the founder of Binance has grown his company from an idea into the world’s largest digital-asset exchange by traded value. Binance had a $200 million profit in its second quarter of existence, and he has amassed a personal fortune that he claims is worth as much as $2 billion.

Regulators around the world are clamping down on the Wild West environment that enabled Binance’s breakneck growth.

Hong Kong’s Securities and Futures Commission has also issued warnings to Binance and several of its peers in recent months, telling the exchanges to refrain from trading cryptocurrencies that qualify as securities.

Zhao Changpeng remains 100 percent convinced that crypto is the future.

One of the most-traded coins on Binance’s platform is Tether, whose creator has been subpoenaed by the U.S. Commodity Futures Trading Commission amid questions over the veracity of claims that the token is fully backed by dollars.

Binance has had popular promotions like a Lamborghini giveaway.

Binance’s trading systems are seen as among the most reliable in the digital-asset world and its baseline transaction fee of 0.1 percent is lower than most competitors. The venue has yet to suffer a major cyber thef

By | 2018-04-04T06:37:47+00:00 April 4th, 2018|Categories: cryptocurrency, exchanges, fintech, ico|Tags: , , , |Comments Off on Binance CEO rises to billions in less than 8 months

About the Author:

Brian Wang, MBA and BSc, is a business oriented futurist, speaker and author of emerging and disruptive technologies. Sole author and writer of nextbigfuture.com, a science focused news site that covers disruptive technologies and trends globally in industries including Medicine, Technology, Science, Artificial Intelligence, Robotics, Biotechnology, Nanotechnology, etc. Nextbigfuture is Ranked #1 “Science News Blog” worldwide by Alexa, an Amazon company. Website traffic: 2M page views per month and 4M unique readers annually. Lecturer at Singularity University - provided 4 annual reviews of developments in nanotechnology. Sought after speaker at TEDx (lecture on Energy), University of Toronto (futurism) and Transhuman Visions. Contributor on 10-year plan for the Institute for the Future.