How Ruthless Must One Be to Succeed?

In 2014, Changpeng Zhao (CZ) sold his Shanghai apartment, cashing in around 1.1 million yuan, and went all-in on Bitcoin. Soon after, Shanghai real estate prices doubled, while Bitcoin tanked to a third of its original value. This bold move gave CZ a small reputation in the crypto space.

Later that year, CZ met Xu Mingxing, founder of OKCoin, at a crypto event. By June, CZ joined OKCoin as CTO, leading the company’s tech and international operations. However, things quickly soured, and CZ left the company in less than a year due to disagreements.

Fast forward to July 2017, CZ launched Binance. Just 11 days after raising $15 million in its ICO, the exchange was live. The rest is history—Binance became an instant hit and quickly dominated the crypto landscape.

This story shows that success demands ruthless decisions and the courage to take risks. CZ’s ability to endure losses and bounce back made him a legend in the crypto world.