The $110 Billion Dollar Man - Binance Founder Opens Up | PBD #797

CZ recounts his path to founding Binance in 2017, emphasizing decisions driven by conviction in blockchain's potential. After discovering Bitcoin in 2013 via friends and forums like BitcoinTalk.org, he sold his $900,000 Shanghai apartment—his main asset—for BTC at an average $600 per coin, turning it into over $120 million as BTC rose. He quit his job at OKCoin, confident in his fintech skills from Bloomberg and prior startups to find work if needed. Risk, he explains, depends on personal circumstances: "Risk is not based on the action. It's based on your individual circumstance."

Launch and Hyper-Growth Execution

Binance launched July 14, 2017, after a failed VC raise—investors saw the exchange space as crowded. An ICO raised $15 million in BNB tokens, with early backers including crypto insiders betting on CZ's reputation as a tech provider for exchanges. The team pivoted from selling exchange tech to running their own, starting with six tech-focused members in a high-energy, noisy office.