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Zhao's road to crypto riches began in Shanghai in 2013 during a friendly poker game with Bobby Lee, then CEO of BTC China, and investor Ron Cao, who both encouraged him to put 10% of his net worth into Bitcoin. After spending some time studying it, he took the plunge and ended up selling his apartment for Bitcoin. In 2017, he founded Binance (a portmanteau of binary and finance) and it quickly blossomed into a crypto powerhouse.
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“Crypto is still in its growth stage,” Binance said in a statement. “It is susceptible to higher levels of volatility. Any number you hear one day will be different from a number you hear the next day.”
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