Created your #Binance Web3 Wallet yet?
Let us know your feedback, so we can keep improving๐
Use #BinanceWallet when you share your thoughts and you can win some #BNB.
Investors and founders don't always align. Don't let anyone tell you otherwise.
(To be fair, no two person can always be 100% aligned. I am both a founder and investor.)
Knowing when to let go control of a company you founded is one of the trickiest decisions.
Today, I stepped down as CEO of Binance. Admittedly, it was not easy to let go emotionally. But I know it is the right thing to do. I made mistakes, and I must take responsibility. This is best for our community, for Binance, and for myself.
Binance is no longer a baby. It is time for me to let it walk and run. I know Binance will continue to grow and excel with the deep bench it has.
Iโm pleased to announce that @_RichardTeng, our now former Global Head of Regional Markets, has been named the new CEO of Binance today.
Richard is a highly qualified leader and, with over three decades of financial services and regulatory experience, he will navigate the company through its next period of growth. He will ensure Binance delivers on our next phase of security, transparency, compliance, and growth.
Prior to joining Binance, Richard was CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market (ADGM); Chief Regulatory Officer of the Singapore Exchange (SGX); and Director of Corporate Finance in the Monetary Authority of Singapore.
With Richard and the entire team, Iโm confident that the best days for @Binance and the crypto industry lay ahead.
As a shareholder and former CEO with historical knowledge of our company, I will remain available to the team to consult as needed, consistent with the framework set out in our U.S. agency resolutions.
Whatโs next for me?
I will take a break first. I have not had a single day of real (phone off) break for the last 6 and half years.
After that, my current thinking is I will probably do some passive investing, being a minority token/shareholder in startups in areas of blockchain/Web3/DeFi, AI and biotech. I am happy that I will finally have more time to spend looking at DeFi.
I canโt see myself being a CEO driving a startup again. I am content being an one-shot (lucky) entrepreneur. Should there be listeners, I may be open to being a coach/mentor to a small number of upcoming entrepreneurs, privately. If for nothing else, I can at least tell them what not to do.
On that note, I am proud to point out that in our resolutions with the U.S. agencies they:
- do not allege that Binance misappropriated any user funds, and
- do not allege that Binance engaged in any market manipulation.
Funds are SAFU!
With that, I look forward to seeing the new leadership take the reins. Please join me in congratulating Richard on his well-deserved promotion.
Onwards!
CZ
The fundamentals of our business are VERY strong.
Binance continues to operate the world's largest crypto exchange by volume, our capital structure is debt-free, expenses are modest, and, despite the low fees we charge our users, we have robust revenues and profits.
Two (or 3, if you count the indirect) people said I am stoic today.
"As Mโโ says , you are stoic. U r most stoic person I know."
"Sometimes people misunderstand that you're all about business, but even simple things that people don't see, like asking me to send a gift to Pโโ (a junior staff) for her wedding just days before this all happened. Your mental strength and stoicity is just crazy nuts."
Maybe I am? ๐ I just try to solve/fix problems that I encounter in the most logical/effective/efficient way possible, in as calmly a manner as possible.
I only came across the word "stoic" reading Ryan Holiday's book not long ago. If you are as bored as I am on Thanks Giving, I recommend reading both of his books ๐.
Overall, I'd say Courage is Calling probably had more impact on me though. ๐คทโโ๏ธ
Happy Thanks Giving!
Apparently, calorie restriction is the number one longevity fix, exercises and sleep follows. Everything else is behind those, vitamins, supplements, special drugs, stem cells, etc.
Health is wealth. Diet time. My lunch๐. Itโs so bad I only ate half of it. ๐
10 years ago today, I quit my job, sold my house, and aped into #bitcoin.
No, I am not saying you should do the same. Many people asked, how could you take such risks? Me, I knew I could easily get a job... Everyone's risk profile is different. Learn risk management.