Who is Changpeng Zhao, the chief executive of Binance?
The qualities that have made crypto’s Teflon Man a success could soon land him in trouble
THE IMPLOSION of FTX, a crypto exchange once valued at $32bn, has left plenty of people with egg on their faces. But one crypto giant, and the man who runs it, is emerging stronger—at least for now. Binance has cemented its status as the world’s largest cryptocurrency exchange, making it the dominant middleman of a $1trn market. And Changpeng Zhao, its 45-year-old co-founder and boss, has triumphed over a younger, more charismatic rival in Sam Bankman-Fried, the fallen head of FTX. Even after the crypto crash, Mr Zhao’s fortune is estimated at $17bn. Who is crypto’s Teflon Man?
This article appeared in the The Economist explains section of the print edition under the headline “Who is Changpeng Zhao, the chief executive of Binance?”
From the November 19th 2022 edition
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