Thank you @WutalkWu for the recommendation. I just finished watching Anthony Pompliano's interview with #Binance founder @cz_binance:
The King of Crypto: CZ’s Rapid Rise
Link: https://www.youtube.com/watch?v=PMJJmRtp6KA&t=9s
Recently, I've been enjoying some interesting podcasts on YouTube. I found that many interviews abroad are indeed not overly prepared, and the spontaneous Q&A can lead to sudden bursts of inspiration!
For example, this interview, The King of Crypto: CZ’s Rapid Rise, is both comprehensive and exciting. It serves as another channel to understand Binance and is also perfect as recent English learning material!
Here are a few core highlights distilled for you:
1️⃣ Life trajectory from zero: From a rural boy to the founder of a top global exchange, discussing his childhood and relationship with his parents;
2️⃣ Early belief in Bitcoin: Going all in on crypto in 2013;
3️⃣ Entrepreneurial explosion: Binance became the world's largest exchange just months after its founding, achieving about $1 billion in profit in its first year, possibly becoming the first company to earn $1 billion in profit from the startup phase.
4️⃣ Risks and challenges: Hacker attacks, global regulation, and imprisonment.
5️⃣ Positive and optimistic outlook for the future: Unwavering long-term confidence in blockchain and crypto.
A firm belief and a broad perspective are the stabilizing forces for a company's long-term development. After watching, one might understand Binance's development path and truly see the real side of a unicorn founder, along with the great opportunities and challenges that shaped it!
🌍 Interview Highlights & Timeline Summary
0:58 – The global role of Bitcoin and cryptocurrency
CZ believes that Bitcoin and cryptocurrency are important components of a globalized and liberalized financial system, especially in the current trend of world division, providing a more open value exchange system.
5:37 – CZ's childhood: No electricity or running water
He grew up in rural China, where there was no electricity or running water during his childhood, and living conditions were tough. This experience shaped his resilience and frugality.
9:59 – Relationship with parents
His parents were teachers and had a significant impact on his education. His father was suppressed by political movements, and the family was poor, but their values were profound.
12:12 – Immigrating to Canada
He moved to Canada with his parents during his teenage years, experiencing cultural shock and adapting to a new life.
17:10 – Career before cryptocurrency
He worked in technology in Tokyo and New York, including financial system development at Bloomberg. The combination of technology and finance laid the foundation for his later entrepreneurship.
22:25 – Encountering Bitcoin in 2013
He first heard about Bitcoin in 2013 during a poker game in Shanghai, mentioned by a friend. After buying in, he became deeply involved and decided to dedicate himself full-time to the crypto industry.
24:36 – Founding Binance
The inspiration came from dissatisfaction with existing exchanges, believing it could be done faster, better, and more globally.
With very little funding, he quickly launched, and within a few months, it became the largest exchange in the world.
29:26 – Rapid expansion and becoming number one globally
Through rapid innovation and global market strategies, Binance achieved explosive growth during the crypto bull market, becoming the platform with the highest trading volume.
36:55 – Binance hacked in 2019 & “Funds are safu”
In the face of the hacking incident, CZ immediately promised the safety of user assets, introducing the classic phrase “Funds are safu” to enhance user trust.
42:15 – Bitcoin explosion in 2021 & regulatory challenges
As regulations tightened, CZ shared how Binance responded to global compliance pressures and his views on the future regulatory environment.
46:58 – What happened with Binance and CZ?
Reflecting on the regulatory battles with various countries, CZ stepping down as CEO, legal lawsuits, and discussing public misunderstandings about him and the reality.
56:55 – CZ's experience in prison
He talked about his mental state during detention, prison life, and how he maintained calm.
1:02:54 – Obtaining clemency and legal battles
Discussing legal procedures, possible clemency, and views on the phenomenon of "legal battles."
1:07:27 – Future outlook
CZ expressed continued confidence in the crypto industry, stating he will still participate in the crypto ecosystem, but may no longer take on a core role.
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