Binance emerged in July 2017 led by the Chinese-Canadian developer Changpeng Zhao (known as “CZ”). The platform combined fast funding via an ICO with a high-frequency order-processing infrastructure to become the world’s largest cryptocurrency exchange in just a few months.
The founder’s background: CZ already had experience in high-frequency trading software for stock exchanges and had worked on cryptocurrency projects such as Blockchain.info and the OKCoin exchange.
Initial funding (ICO): In July 2017, the company raised $15 million through an Initial Coin Offering (ICO), launching its native token, Binance Coin ($BNB), in parallel.
Value proposition: Unlike its competitors, it offered extremely low fees, high transaction execution speed, and a massive catalog of altcoins.
Growth and decentralized headquarters: After government regulations were imposed in China in late 2017, Binance moved its operations and adopted a model with globally decentralized offices, reaching global leadership by trading volume in January 2018.
The founder’s background: CZ already had experience in high-frequency trading software for stock exchanges and had worked on cryptocurrency projects such as Blockchain.info and the OKCoin exchange.
Initial funding (ICO): In July 2017, the company raised $15 million through an Initial Coin Offering (ICO), launching its native token, Binance Coin ($BNB), in parallel.
Value proposition: Unlike its competitors, it offered extremely low fees, high transaction execution speed, and a massive catalog of altcoins.
Growth and decentralized headquarters: After government regulations were imposed in China in late 2017, Binance moved its operations and adopted a model with globally decentralized offices, reaching global leadership by trading volume in January 2018.