Binance Founder Recants Success Story, “I Sold My House to Ape into Bitcoin”

Binance founder and former CEO, Changpeng ‘CZ’ Zhao has revealed what got him the success he now boasts of as a crypto entrepreneur. This revelation comes in the wake of his legal woes with the United States Department of Justice (DOJ).

Binance Founder Made Daring Decisions

According to the Binance Founder, 10 years ago today, he decided to quit his job to go fully into crypto. While this was a big risk, he revealed that he even sold his house and used the funds to “ape into Bitcoin.”

The Binance founder has told this story before and while no one knows the exact number of Bitcoin he owns, it is a common assumption that he is one of the largest individual Bitcoin owners in history. Notably, CZ does not qualify as a Bitcoin Marxist because he also owns a sizable amount of his exchange token, Binance Coin (BNB).

While the post from the Binance founder is a self-reflection of his journey so far, he advised his more than 8.8 million followers how risky the decision he took was. In a follow-up post, he said quitting his job was easy as he was aware he could get another one easily. He confirmed this was what happened as he was hired by a crypto firm 2 weeks later.

I got a job in crypto 2 weeks later. Paid a bit less, but I didn't have to go to an office.

— CZ BNB (@cz_binance) December 3, 2023

This new job brought reasonable flexibility as he did not have to go to the office anymore. For anyone looking for success in crypto, the CZ story shows risk must be taken but according to him, it must be a well-measured risk.

Grand Ending With a Twist

CZ built Binance Exchange from the ground up and the trading platform now ranks as the biggest crypto spot and derivatives outfit by volume today.

His reign as the company’s CEO was truncated when he voluntarily resigned as part of the settlement the exchange inked with the DOJ. While many saw an abrupt ending, CZ said he has always talked about resigning early from the exchange.

At a time, he announced his willingness to step down from the trading platform if there is a better fit for his role. With the turn of events, Richard Tend now sits as the firm’s CEO and the exchange’s users are anticipating another flourishing era moving forward.

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