Binance Celebrates 6 Years: CZ’s Journey in the Crypto Space

Von | 15. Juli 2023

• Binance, the world’s largest cryptocurrency exchange, is celebrating its sixth anniversary today.
• In commemoration of the feat, the exchange’s founder and CEO, Changpeng Zhao (CZ), has reminisced on several events since the platform’s launch.
• Binance has weathered through two crypto winter which caused many exchanges to collapse but nevertheless it remains the world’s largest by trading volume.

Binance Celebrates 6 Years

Binance, the world’s largest cryptocurrency exchange, is celebrating its sixth anniversary today. Founded in 2017 with $15 million worth of digital assets as a crypto-to-crypto exchange with five tokens and two languages, Binance has grown to become an industry leader in a very short time.

The Journey So Far

In commemoration of this feat, the exchange’s founder and CEO Changpeng Zhao (CZ) has reminisced on several events since the platform’s launch. Two months after going live, China banned crypto exchanges and initial coin offerings (ICOs). This forced Binance to spend 40% of its treasury at that time – amounting to $6 million – which was their biggest single spending in history percentage-wise. Despite this setback Binance quickly became the world’s largest crypto exchange by trading volume and continues to remain so despite two crypto winters that have caused many other entities including rival exchanges to collapse.

Regulatory Scrutiny

CZ disclosed that current regulatory scrutiny that Binance is facing is “not unexpected” considering events of 2022 and company size. He further stated that he respects regulators‘ views on compliance and believes they are necessary for industry development as well as protecting investors‘ interests.

Expanding Reach

CZ continued his statement by revealing how far Binance had come from just one product offering back in 2017 – now offering over 200 products across six continents – stating “we don’t take anything for granted; we move fast yet stay prudent.“ He also mentioned how they have been able to set up offices around the globe while staying true to their core values – something he is most proud of during his journey so far with Binance.

Looking Ahead

To conclude his statement CZ expressed his excitement at what lies ahead for Binance as they continue growing into new markets while developing more products and services such as staking/savings accounts; futures; options; spot trading; margin trading etc., all with an aim for providing better services for users worldwide.