Key Takeaways:
Binance reportedly made $1 billion in profit during its first year, according to CZ on The Anthony Pompliano Show.
This may be the fastest profit milestone reached by any company in history.
CZ shared personal reflections on growing up in rural China and his time in U.S. prison.
Binance founder and former CEO Changpeng Zhao (CZ) revealed that the crypto exchange earned $1 billion in profit in its first year of operations, potentially making it the first company ever to reach such a figure in such a short timeframe. The revelation came during an in-depth interview on The Anthony Pompliano Show.
Speaking with host Anthony Pompliano, CZ explained how Binance’s explosive growth in 2017 — during the peak of the initial coin offering (ICO) boom — catapulted the exchange to the top of the global crypto trading ecosystem within months of its launch. “We did about $1 billion in profit in our first year,” CZ said. “It’s crazy. I don’t know any other startup that’s ever done that.”
CZ on His Roots and U.S. Legal Experience
In a more personal segment of the interview, CZ reflected on his early upbringing in rural China, where he lived modestly before immigrating to Canada. He also discussed his recent detention and time in a U.S. prison, stemming from Binance’s legal battles with U.S. regulators.
Though CZ didn’t go into extensive legal details, he described the experience as “humbling,” adding that it gave him “time to think” and further reinforced his commitment to crypto innovation.
