Podcasts play an integral role in the world of cryptocurrency. During a recent Crypto 101 podcast, an interview was conducted with Binance CEO Changpeng Zhao. Given the exchange’s popularity, this demand for Zhao’s opinion has soared. During this particular podcast, we learn a bit more about how he got into cryptocurrency and why the Binance exchange was launched.
The Story of Changpeng Zhao
While most people know Zhao as the CEO of Binance, it is easy to overlook everything else about him. Similar to most company CEOs, there is a very good reason why he ended up running a cryptocurrency exchange. After spending his youth traveling from country to country, he knows the issues of dealing with money on a global basis. It is these struggles which influenced Zhao’s decision to launch a cryptocurrency exchange. He explains:
“It is the third attempt at running a cryptocurrency exchange. After being introduced to Bitcoin in 2013, I wanted to run a cryptocurrency exchange, but everything was too new to make it happen. After leaving OKCoin in 2015, the plan surfaced again, but the market wasn’t big enough. Poloniex already was a big name back then. In 2017, we finally ended up launching Binance.”
Even so, running a cryptocurrency exchange is not easy. Zhao ran a technology startup providing services to other exchanges for two and a half years prior to launching his own platform. It is this knowledge which took Binance from an ICO to a working platform in just twelve days. A remarkable feat of strength, as it would not be possible to do so under normal circumstances.
The Binance Coin and Bitcoin Success Story
Exchanges don’t always issue their own native token, yet the Binance platform did. Known as Binance Coin, it has quickly become one of the top digital assets on the market. This is partially due to the success of the trading platform itself. The future of this currency looks bright, although Zhao isn’t too concerned about it. He explains it as follows:
“I typically start my day by waking up and checking my cell phone for any important messages. I don’t check the Binance Coin price anymore. I can go weeks without checking the BNB price. If you were to ask me its price right now, I couldn’t tell you.”
The future will be interesting for cryptocurrencies and Binance, according to Zhao. His recent business meetings required far fewer educational efforts, as most regulators are aware of the developments in this nascent industry. When looking at the current market and prices, Zhao admits he holds a long view on Bitcoin and other currencies. This drop will not be noticeable in a few years from now, as the Bitcoin price will most likely be ‘much higher”.