Binance CEO Sold His House In 2014 To Buy Bitcoin

Binance CEO, Changpeng Zhao, told the story of how he sold his house in 2014 to buy bitcoin when its price was at the level of $600.

Then the price fell to $200, however, according to Zhao, he did not sell even then.

“You know, after that, I did not really care,” he said during a speech at Consensus Singapore CoinDesk conference.

Zhao stressed that during the year, Binance plans to open 5 to 10 cryptocurrency trading platforms with support for multiple currencies, ideally – two on each continent.

“All the money is still in fiat… We must open this gateway,” he added.

Binance intends to cooperate with small countries since government departments there, allegedly work more efficiently and appreciate the contribution of the cryptocurrency business to the local economy.

Zhao also disclosed platform revenues in the second quarter – $150 million. Note that this is $50 million less than the figures for the first quarter.

This week, Binance started a closed beta testing of the trading platform with support for fiat in the jurisdiction of Singapore.