Binance’ Unicorn Status ‘Surreal’, Says CEO Zhao Changpeng
For the crypto novice, the term Binance is probably unheard of.
While many are becoming more acquainted with Bitcoin and other cryptocurrency, the word Binance is yet to be added to their crypto vocabulary.
However, a single tweet from the company’s CEO Zhao Changpeng may soon drive people to know more about it. On January 1, 2018, Zhao tweeted a graph and a link to a feature story that reads: “Binance: the fastest profitable unicorn in the history?”
“Binance: the fastest profitable unicorn in history?” by Digital Alchemy Holdings https://t.co/qLXAdf0E6q
— CZ (@cz_binance) January 1, 2018
The story published by Digital Alchemy Holdings on December 30, 2017 reveals that Binance is likely to be the fastest exchange to reach the ‘unicorn status’. The company is now valued close to two billion dollars in just merely six months of operations.
How to reach the ‘unicorn’ status
By definition, a ‘unicorn’ in the world of business refers to a startup company that already has a value of more than one billion dollars. The term was popularized by CowboyVC founder Aileen Lee when she wrote an article with the title “Welcome to the Unicorn Club: Learning From Billion-Dollar Startups.”
Both industry observers and experts believe that the business practices, as well as the quality platform, have become instrumental to the rapid growth of finance. Thus, this makes them a contender for being the most successful exchange to date.
The success of this exchange is not only due to the sizzling popularity of cryptocurrencies at present. Much of the credit is due to its CEO and founder Zhao Changpeng and his extensive experience in Wall Street software trading systems and Chinese Bitcoin startups.