"From a high-level strategic point of view, I think a CEO typically wants to spend most of their time on three things: getting funding, setting the right direction, and getting the right people," he said. Indeed, Zhao, who no longer handles the day-to-day operations of Binance, spends most of his time trying to hire the right people for his company these days, he said. "So even if we have 10 times more money, it does not speed us up at all in terms of the amount of meaningful impact that we can do." A 'typical' day of Zhao's life
"Our bandwidth constraints are much more on the people front and much less on the money front," he said. Right now our bottleneck is people."Īlmost four years after its $15 million initial coin offering, Binance is still growing at a blistering pace that is sometimes pressured by the limited speed at which it can hire talent to take on new projects. "We're still much poorer than many of the larger organizations in the world, but we have enough money to do what we want to do at our current size," Zhao said. Today, Zhao, who goes by "CZ," is "quite a bit beyond" being financially free, but he is far from being worry-free, he said.īinance, which became the largest crypto exchange by trading volume in just 180 days, has grown into a behemoth with multiple divisions that tackle charity, investments, and acquisitions, as well as a nonfungible-token marketplace that's set to launch in June. To pitch in on household expenses, he flipped burgers at McDonald's and worked overnight shifts at a gas station. I think that's kind of a meaningless metric once you get to a certain point," Zhao, the founder and chief executive of Binance, said in an interview.īut that doesn't mean financial freedom is not important to Zhao, who immigrated with his family to Canada from China at the age of 12. "I actually really don't care about what Forbes rankings are. Today, as a crypto billionaire, Zhao told Insider his career advice for ambitious young people.Īs a Forbes-ranked crypto billionaire, Changpeng Zhao is surprisingly blasé about his wealth.Growing up, Zhao worked multiple jobs to help his family, including flipping burgers at McDonald's.Changpeng Zhao is the chief executive and founder of Binance, one of the largest crypto exchanges.
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