Tens of billions are spent through it every day, and its CEO started at McDonals’s. This is the story of the biggest cryptoburse, which is in trouble

When it comes to cryptome trading, many knowledgeable and less experienced investors will say the word Binance. However, this cryptomen exchange, which has been the largest volume of transactions and trades in the world for several years, is shorter with us than you would expect.

However, apart from her young age, the daily volume of shops in Binance exceeds $ 30 billion, literally sweeping away competition in the form of big exchanges like OKEx, Huobi or Coinbase, where daily volumes are around $ 3 billion to $ 6 billion, off the table.

In recent months, however, Binance has made headlines around the world due to major problems with regulators, facing sanctions or even bans in countries around the world.

These come mainly because of the “openness” that Binance has been proud of since its inception and thanks to which it has won the hearts of many investors, but also many opponents. However, binance has not always been the “queen of the market” and can owe its exponential growth not only to the popularization of cryptocurrencies, but also to the period during which it arose.

The Binance Exchange took time, the start was a great success

The year was 2017, and bitcoin finally again exceeded the price level of $ 1,000, below which it fell after the events associated with the infamous Mt. Gox, where in its “golden times” up to 70% of bitcoin transactions took place.

In 2014, however, the stock exchange earned Mt. Gox was fatal when it suspended selections in early February of that year after discovering “suspicious activity in her digital wallets.” The company subsequently reported that it had “lost” more than 850,000 bitcoins, representing approximately 6% of all bitcoins in circulation at the time. To date, only a small proportion of these bitcoins have been found and the victims of fraud have still not been compensated.

Three years later, however, in early 2017, creator Changpeng Zhao and his team are working on the development of a cryptobourse called Binance, which is about to change the world of cryptocurrencies.

Through ICO (initial cryptocurrency supply) now known and currently the fourth largest cryptocurrency The $ 15 million Binance Coin (BNB) establishes the Binance.com exchange in China, which has become the largest cryptobourse in the world within six months of its launch, and remains on the market to this day.

From turning burgers to the position of CEO of the largest cryptobourse in the world