The ascent of the Chinese-Canadian entrepreneur is emblematic of the rapid creation of wealth in the fast-moving world of digital currencies.
“Don’t worry about rankings. Focus on how many people you can help,” he wrote.
Zhao launched Binance in 2017, gradually building it into one of the world’s largest crypto exchanges.
After studying computer science at McGill University, he worked on trading software for the Tokyo Stock Exchange and Bloomberg.
“He then learned about bitcoin in 2013 during a game of poker, after which he decided to go all-in on crypto by dedicating his life to it,” according to Binance. “He even sold his apartment to buy bitcoin.”
“More regulations are, in fact, positive signs that an industry is maturing,” he added. “Because this sets the foundation for a broader population to feel safe to participate in crypto.”