He was already 44 years old when he raised 15 million in an ICO in 2017. Binance didn't even start as an exchange; it was a software outsourcing company for other exchanges, having signed contracts with 30 clients. It was only in 2017, when the Chinese government shut down most of its clients, that it was forced to transform. Binance once held a 20% stake in FTX and had veto power over subsequent financing rounds, theoretically able to directly block FTX's fundraising. However, CZ did not exercise this right, voluntarily withdrawing in 2021 when FTX announced a 32 billion valuation for financing, a full year and a half before FTX's collapse. x.com/linwanwan823/status/2021...
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