12/4/2023 0 Comments Cz binance owner![]() ![]() ![]() Chinese authorities banned all crypto-related transactions in September 2021. Binance only delisted Chinese yuan-based trading pairs on the exchange in 2021, and served customers in China for several years, according to September article by Protos. No users or users funds affected," Mustajab said.īinance has also been criticized for its ties to China. "Nearly $570 million were minted and taken by the hacker, $100 million are unrecovered and moved off chain by the hacker. Binance added they would also consider implementing a "bug bounty reward system," so users are incentivized to report bugs. The decision would be made through a series of "on-chain governance votes" - the system that manages and implements changes to the blockchain. Zhao told CNBC in an October interview that no users had lost money in the attack, and that "software code is never bug free." The Binance hack is one of the biggest cryptocurrency hacks of all time.īinance said in a blog post that in the event of a hack in the future, its validators will decide if the hacked funds will be frozen. In October, some $570 million worth of cryptocurrency traded on Binance was stolen in a blockchain hack, according to the New York Times. Zhao told Maclean's that it wasn't until he moved to Canada that he ever drank fresh milk, because it was so rare to find it in China. "You get a ticket to buy meat," Zhao told Fortune in a March interview. Zhao said he experienced food rationing growing up in rural China. After the Tiananmen Square protests in 1989, Zhao and his family followed his father and moved to Vancouver. Shengkai immigrated to Canada to pursue a doctorate degree at the University of British Columbia, per Maclean's. He added that he was "lucky to have been able to leave at that time." Zhao said in a September blog post that his family had to wait in line outside the Canadian embassy for three days to procure visas. Zhao's father, Shengkai, was a professor who was exiled to the countryside during the Cultural Revolution in China, according to the Maclean's report. Zhao, who is Chinese-Canadian, moved to Vancouver in the late 1980s with his family, according to Forbes. Binance is bigger than its four largest competitors combined, per Bloomberg.Įditor's note: This story was first published in October 2022 and has been updated to reflect recent developments. In 2021 alone, Binance generated over $20 billion in revenue, according to Bloomberg. ![]() ![]() The exchange handles some $76 billion in daily trading volume, according to Protocol. Zhao founded Binance in 2017 and powered it to become the biggest cryptocurrency exchange by trading volume. His career in the up-and-coming digital currency industry started at, where he served as the head of development. Zhao's interest in cryptocurrency began in 2013 when he first learned about Bitcoin, according to a 2018 Forbes report. His real-time estimated net worth is a far cry from the peak of his personal wealth: His net worth peaked at $95.9 billion earlier this year, the Bloomberg Billionaires Index shows. With a net worth of $16.4 billion as of November 9, he's the 87th-richest person in the world, according to the Bloomberg Billionaires Index.īut crypto winter has taken a toll across the industry, and Zhao is no exception. Zhao - who's often known as CZ - is one of the most prominent people in cryptocurrency, as well as the wealthiest person in the industry. Account icon An icon in the shape of a person's head and shoulders. ![]()
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