The fact that Changpeng Zhao (CZ) suffered the rigors of American law did not prevent him from sharing a poignant testimony concerning bitcoin (BTC). The former CEO of Binance talks about how the choice, ten years ago now, to invest body and soul in the flagship crypto, completely changed his life. But he doesn’t call on users to imitate him.
Changpeng Zhao (CZ) has bet everything on the flagship crypto!
Changpeng Zhao, the former CEO of Binance, also known as CZ, recently revealed the unconventional path that propelled him to success in the crypto industry. About ten years ago, he decided to give up everything to get into bitcoin (BTC).
“Ten years ago, I took the plunge, quit my job, liquidated my assets by selling my house and threw myself headlong into bitcoin,” testified the former manager of the crypto exchange platform Binance, on social networks.
About it, the crypto expert remembers, with humor, his mother’s initial skepticism, regarding his approach, which was risky and daring to say the least. As he celebrates the 10th anniversary of this decision which impacted his life, Changpeng Zhao however issued a warning.
It is true that his choice to bet everything on bitcoin (BTC) has made him one of the behemoths of the crypto industry. But the expert warns of the propensity to want to do like him. He stressed the importance of acquiring effective management skills and risk tolerance.
A testimony that echoes the recent legal setbacks of the ex-CEO of Binance?
This testimony from CZ comes at a crucial time in his career when he is grappling with legal problems. As a reminder, the former CEO of Binance is currently under the threatening specter of a potential prison sentence of 10 years in prison.
This is linked to the fact that he recently pleaded guilty to certain criminal acts that the American justice system suspects him of having committed. He also had to post a bail of 175 million dollars to remain free of his movements while awaiting a trial.
In the process, the expert gave up management of the company he built during his life. This, by agreeing to reach a record $4.3 billion settlement with the US Department of Justice (DOJ). Isn’t that another sign of his risk tolerance?
Regardless, famous crypto investor Arthur Hayes has criticized what he sees as an attack ” absurd “ against CZ. For this former CEO of BitMEX, who predicted the spectacular explosion of bitcoin, the treatment reserved for CZ and Binance is arbitrarily imposed by the State.
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