Jakarta, CNBC Indonesia – The boss of the Binance crypto exchange, Changpeng Zhao, is now one of the richest people because of cryptocurrencies. But, who would have thought that the man who was born in China and grew up in Canada had lost his home almost all of his money?
When he first heard the word bitcoin, Changpeng Zhao, who is also popular with the initials CZ, immediately judged that crypto was the future. Without thinking, he immediately sold the only property asset in the form of his apartment.
From the money from the sale, he invested in bitcoin worth US $ 1 million in 2013-2014. His friends also thought he was crazy because apart from not owning a house, he also left his job so he could focus on bitcoin.
Two months later Bitcoin fell to 70% and CZ lost US $ 700,000 so it was considered stupid by the mother.
“So my mom was like, you stupid kid and why would you do that when you already have a good job at the company,” she recalled.
Instead of giving up, CZ was even more focused. He stopped playing poker, left his friends and hobbies to learn about blockchain technology.
Every day, he wakes up at nine and sleeps five hours a day to learn blockchain. He did this for five years until he was finally able to set up Binance. Who would have thought, the target of becoming the best crypto exchange in the world in three years was realized in just three months.
CZ who was called stupid by his mother later has a fortune of around US $ 60 billion from crypto. within five years Binance became the largest Crypto Exchange with 100 million users.
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