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Crypto CEO, CZ Zhao Becomes One of The Richest Billionaires in The World

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According to the daily Bloomberg billionaires index update, Cryptocurrency exchange Binance founder and CEO, known as Changpeng “CZ” Zhao, was named the 12th wealthiest person, globally.

CZ, as he is known to cryptophiles, is worth $96 billion above Mukesh Ambani, the Indian tycoon whose worth is currently $92.9 billion, and below Oracle founder Larry Ellison, Meta founder Mark Zuckerberg, and others as of January 9, 2022.

CZ’s fast growth to become one of the wealthiest billionaires is a sign that digital currency is widely gaining acceptance in the world. He attained his position amongst other businessmen just 5 years after launching Binance in July 2017.

CZ, a 44-year-old Chinese-Canadian entrepreneur, was born in China and was raised and educated in Canada. He has Canadian citizenship and studied computer science at McGill University.

After graduating from the university, CZ worked for Tokyo Stock Exchange as a subcontractor developing software to match trade orders. After that, he worked for Bloomberg Tradebook for four years as a futures trading software developer.

CZ decided to sell his apartment to fully go into the Binance business after learning about bitcoin in 2013, during a poker game.

CZ is a Crypto founder and a previous member of the team that developed Blockchain.

This is his first time on the list, and yet, he surpassed some businessmen who were already on the billionaire’s list before.

Binance does not have any headquarters, yet it grows. They are planning their global headquarters in France, Dubai, or Abu Dhabi.

CZ told Laura Shin, a podcast host, during the ConsenSys’ Ethereal Summit in May 2020 that neither bitcoin nor Binance has an office.  “Wherever I sit, is going to be the Binance office.”

CZ works for money in order to help the poor. He tweeted on January 10, 2022, “Don’t worry about rankings. Focus on how many people you can help.”

CZ tweeted again on January 11, 2022. “Unpopular opinion: instead of wealth rankings, there should be a ranking of charity and philanthropy efforts.”

A Binance representative said CZ intends to give away 99% of his wealth, just like other entrepreneurs like Meta CEO Mark Zuckerberg, Warren Buffett, and Bill and Melinda Gates.

CZ has been popular in the United Arab Emirates, and he has met royalty in Abu Dhabi who are eager to bring this Binance exchange to their country.

Information was obtained from authentic sources, that CZ is the most prominent person in cryptocurrency. He has an apartment in Dubai and has hosted dinners near the Burj Khalifa, the world’s tallest building, and on the city’s Palm Jumeirah Island.

Binance generates income daily with $170 billion of transactions in just 24 hours and generates about $40 billion in a slow day. According to Bloomberg analysis, Binance generated at least $20 billion in revenue in 2021.

There is no business without setbacks, however, and the major setback affecting Binance is regulation. Binance has been the principal subject of consumer warnings in the U.K., Japan, Germany, and other countries.

The U.S. Department of Justice and the Internal Revenue Service are investigating Binance Holdings Ltd’s practices for money laundering and tax evasion.

A spokesman for Binance said, “we are working with regulators around the world, and we take our compliance obligations very seriously.”

CZ also stated in Bloomberg that he welcomes and wants regulation. “I am not an anarchist; I don’t believe human civilization is advanced enough to live in a world without rules.”

Another aspect of cryptocurrency’s setback is its fluctuating fortune. It can easily slump anytime. For example, in 2021, bitcoin slumped at an 11% rate.

In the future, Binance is trying to get an operating license to maintain its global presence and be stable from any regulatory shake, like that from 2021.

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ExxonMobil Boasts Highest Profits in 13 Years Amidst Surging Oil Prices

ExxonMobil Boasts Highest Profits in 13 Years Amidst Surging Oil Prices

As the winter weather subsides in exchange for more sunshine and warmth, an increasing amount of Americans will be hoping to travel. Unfortunately, that may not be a possibility for some due to the fact that gas prices are steadily rising with no end in sight. The increase in gas prices has a trickle-down effect on everything from flight tickets to shipping costs. Even though the rise in gas prices is bad news for most Americans, that isn’t the case across the board. In fact, there are some people who are relishing over the pain being experienced at gas pumps across the nation. Among the people who are most thrilled to see the continued rise in gas prices are the executives at ExxonMobil who have been raking in heavy profits as a result of the surge in oil prices. 

The Company has done so well during the surge in oil prices that their first-quarter earning results may have reached up to $13 billion. This represents the highest profits for ExxonMobil since 2008. The first-quarter results are said to have been about $2 billion higher than the results of the 4th quarter of 2021. Whether or not the Company will be able to maintain their momentum throughout the rest of the year remains to be seen as governments across the world are working to do what they can to alleviate their citizens from unbearably high fuel costs. 

One of the biggest factors regarding whether or not their profits will continue to soar is how big of a hit they’ll take by withdrawing Sakhalin-1 oil development in Russia’s far east region. ExxonMobil announced they’d be leaving Russia due to international sanctions, along with what Executive Officer Derren Woods describes as the country’s “needless destruction” in the nation of Ukraine. If the move results in lower fuel costs for consumers, it’s one that would likely be supported far and wide.

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Weird Airbnbs Make Successful Business Venture for One Creative Designer

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The Airbnb industry continues to be quite lucrative for some folks. One designer decided to get creative with the rentals she was offering, and it paid off in a big way. 

Kristie Wolfe is profiting off her ideas which include a Big Idaho Potato Hotel (a converted fire lookout at $200 a night), a Hawaiian treehouse ($300 a night) and a hobbit hole ($400 a night). 

She was inspired by the tiny house movement back in 2010 while working on a potato farm in Idaho. She launched her first property, the big potato hotel when she was just 27. It was a 97 square foot “shed on wheels” but Wolfe loved living there and she knew others would enjoy it as well. 

Her next venture was a treehouse built on Hawaii’s big island which she created for a total of $11,000 and rented it out for $300 a night. She made her money back within a hundred days. 

“I could’ve stopped right there and chilled with the income, but I have no chill,” Wolfe said. 

She continued to build her other units earning her status as a legendary builder in the Airbnb space and enough passive income to last a lifetime. She also learned about the benefits of building in offbeat areas which provide lower costs, less competition, and decreased demand. 

Other lessons learned include how to stay budget friendly. For example, her hobbit hole uses light fixtures made of willow branches which are a low cost and environmental design option. 

She also found out that using the word “caretaker” instead of “housekeeper” on the Airbnb site can get more customers through the door. 

“People always think certain things are impossible. But when you’re pushed into a corner, you just figure it out,” the designer says of her inspiration. 

Her Airbnb properties sound interesting. Will you be checking one out the next time you decide to travel? 

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Floyd Mayweather and Kim Kardashian Being Sued Over Cryptocurrency

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Over the last few years, cryptocurrencies have skyrocketed in popularity. Thanks to Bitcoin, currencies like Ethereum and Dogecoin have become legitimate ways for people to invest their money. For many, it’s been a great way for people to make a significant profit.

However, it’s not all bright and cheery in the world of cryptocurrencies. Right now, Floyd Mayweather and Kim Kardashian are in a bit of hot water regarding their promotion of a specific cryptocurrency. The two have been accused of misleading investors through their promotion of the cryptocurrency token EthereumMax, or EMAX. 

The lawsuit was filed January 7th in Los Angeles federal court. It claims that both Mayweather and Kardashian promoted the coin to their followers in order to get them to invest in it. As their followers invested their money, the stake that the two had in the cryptocurrency increased, netting them larger profits. However, when the two pulled their own money out, the token failed, causing many of the other investors to lose large amounts of money.

The lawsuit stated:

The company’s executives, collaborating with several celebrity promoters … made false or misleading statements about EthereumMax through social media advertisements and other promotional activities.

The portion stating that the promoters used “other promotional activities” refers to Mayweather specifically. Mayweather, being one of the most successful boxers of all time, is no stranger to promotions, sponsorships, and endorsements. When it comes to EthereumMax, Mayweather proudly wore the cryptocurrency on his trunks during his fight against YouTube celebrity Logan Paul.

It is also likely that Mayweather wore the logo for EthereumMax during other promotional activities for the fight, as well. This is due to the fact that the company was one of his more notable sponsors for a significant portion of time.

In relation to Kim Kardashian, the promotion of EthereumMax was far more blatant. Kardashian has one of the biggest social media followings in the world. As such, she also has one of the largest audiences to promote products to. That’s exactly what she did.

In June of 2021, Kim Kardashian posted on her Instagram about EthereumMax. Her post said:

Are you guys into crypto???? This is not financial advice but sharing what my friends just told me about the Ethereum Max token! A few minutes ago Ethereum Max burned 400 trillion tokens—literally 50% of their admin wallet, giving back to the entire e-max community. Swipe up to join the e-max community.

The post itself was even marked as being an ad on Instagram, with the required “#AD” marker at the beginning of the post. At the time, Kim Kardashian had nearly 250 million followers on the platform.

Neither Kardashian or Mayweather has responded to the lawsuit publicly. EthereumMax, however, has put out a statement. They “look forward to the truth coming out.”

Unfortunately it seems pretty cut and dry what has happened in this scenario. The company paid promoters to help them increase the value of their cryptocurrency. This inflation led to profits for the celebrity promoters, as well as the company, but overall, it was the average people who invested that lost money.

The lawsuit has been filed by a New York resident who invested based on the promotional material put forth by the celebrities. He, and countless others who purchased EMAX from May to June of 2021, have joined in the class action lawsuit.

This is the kind of power that we’ve given to celebrities. They are called influencers for a reason. In the future, hopefully they won’t be allowed to promote fintech companies. Until then, their interest in such areas isn’t worth a grain of salt.

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Tik Tok User Trades in Bobby Pin for a House

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For many people, owning a home is a dream that may never come true. It takes a good amount of money to buy a house and some people will never make enough for a down payment. 

One Tik Tokker recently got creative and managed to make her dream to buy a home a reality starting by trading a one cent body pin. She continued her bartering and was eventually able to afford an $80,000 home. 

Demi Skipper of San Francisco started her “Trade Me Project” in May of 2020. She kept followers updated on her Instagram and Tik Tok accounts which resulted in her gaining millions of followers. 

On Dec. 12, 2021, she posted a video of herself proudly standing in front of her two-bedroom detached house near Nashville, TN. “After 28 trades and all the ups and downs, I finally did it,” she said in the video. 

Skipper was inspired by a TED Talk by Kyle MacDonald, a Canadian who traded his way to a home starting with a paperclip. “The moment I realized no one else had done this since, I was like ‘OK, I have to do this’.”

She integrated a few rules into the task. No money could be exchanged other than covering shipping costs, and no trading was allowed with people she knew. She also accepted sponsorships from brands. 

The campaign attracted enough attention that it brought Skipper’s social media following from zero to millions after just a few video posts. “I think it was just crazy enough of an idea that people were thinking ‘I don’t think she’ll do this, but I want to watch to see if she does’,” she says. 

Here are the exchanges Skipper made between May 2020 and November of 2021 that led her to purchasing a home. 

  • Bobby Pin: $.01
  • Earrings: $10
  • Margarita Glass: $24
  • Bissell Vacuum: $60
  • Dakine Snowboard: $95
  • Apple TV 4K: $180
  • Bose Wireless Headphones: $220
  • Xbox One with Accessories: $320
  • 2011 MacBook Pro: $400
  • Canon TD with Accessories: $550
  • Nike Blazers: $750
  • Nike Hyperdunks: $850
  • Nike Air Jordan 1s: $950
  • Apple iPhone 11 Pro Max: $1050
  • 2008 Dodge Grand Caravan: $1000
  • Boosted Plus Electric Skateboard: $1200
  • Newer MacBook Pro: $1800
  • Ferla Food Cart Bike: $3800
  • 2006 MINI Cooper Convertible: $5000
  • Diamond and Sapphire Necklace: $1600
  • Peloton Bike: $1800
  • 2006 Ford Mustang GT Deluxe: $4500
  • 2011 Jeep Patriot Sport: $6000
  • Wildbound Tiny Cabin: $10,000
  • 2011 Honda CRV: $11,500
  • Three-Tractor Trailer: $12,600
  • Chipotle Celebrity Card: $18,250
  • Off Grid Trailer: $40,000
  • House: $80,000

How the Trades Were Made

Skipper made most of her trades on Craigslist, Facebook, and other reseller sites. While many think she had several options to choose from due to the publicity her campaign was getting, that wasn’t always the case. 

“Sometimes I’d have thousands of options and sometimes I didn’t have many,” she explains. She often had to initiate trades with people who had items with a similar value to what she had to sell. 

Skipper would spend up to 40 hours a week working to reach her goal outside of her full-time job as a product manager. She spent most of her time finding buyers and making exchanges and shipping arrangements. She also experienced setbacks when she found out items she had traded for were worth less money than she thought. 

She was prepared to go on for five years to reach her goal. As she got closer to her dream, she had a harder time finding people to trade with. 

“When I had the bobby pin, I was like, ‘give me anything’. But as you get to $10,000, very few people have things laying around their house they can trade with. To be honest, there were times when things slowed down and people started doubting it and leaving comments, but it’s an example of how you just have to keep going.”

Future Plans

Skipper is still adjusting to her new home. She says she wakes up and thinks “OK, what do I need to do and who do I need to trade with?’ And I’m like, ‘Wait, it’s already happened, I don’t need to do that anymore’.”

That will change this month as Skipper is planning Season Two of her Trade Me Project. She plans to move to Tennessee and renovate her house which she will then give to someone who needs it for the price of, what else, a bobby pin. 

When asked why she’s doing it again, Skipper said, “There are so many things I gained from it that weren’t just trades, like the many people I met along the way and how much I learned about myself.”

We wish her the best of luck embarking on her second adventure.

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Everything You Need To Know About the Metaverse

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After Facebook changed its name to Meta back in the fall of 2021, a heavy influx of news stories about the Metaverse eventually followed. The concept is likely complex for anyone who hasn’t been well-educated in the digital space since the term was coined back in 1992. Anyone who feels like they’re on the outside looking in when it comes to anything related to virtual reality or the metaverse isn’t alone. Although virtual reality has made strides in the past few decades, it’s only recently gained the potential to become a hot consumer item with Meta’s (then known as Facebook) 2020 release of the Oculus Quest 2. The technology of the Oculus Quest 2 offers users ranges from expanded work from home capabilities to VR chat rooms. Even though the potential the metaverse possesses is great, there are still numerous questions people need answers to before taking the leap for themselves.  

What Is the Metaverse?

Simply put, the metaverse combines augmented reality with virtual reality to create an immersive experience where people can connect to play together, collaborate on work projects or just socialize. The term ‘metaverse’ first appeared in the sci-fi book by Neal Stephenson called Snow Crash. The concept has gone from a dystopian concept in a science fiction novel into a multi-billion dollar industry. Some estimates report that the Metaverse could eventually reach $1 trillion in annual revenue. After an investment of $10 billion, Meta anticipates the Metaverse generating at least 10,000 jobs over the course of the next five years. 

Meta is at the forefront of the movement to make the Metaverse mainstream, but there are numerous additional tech companies aiming to gain their fair share of profit, too. Some of the other major players from the tech space currently constructing the metaverse include Epic Games, Apple, and Microsoft. Each of the companies currently working to construct the Metaverse are capable of bringing something special to make it capable of exceeding even the wildest of imaginations.

What Is the Metaverse Capable Of?

One of the most confusing aspects of the metaverse is that it’s so hard getting a straight answer as to what it will be primarily used for. When most people hear the words virtual reality, the first thing that typically comes to mind is video games. While an immersive gaming experience is one of the most widely known benefits to joining the Metaverse, it doesn’t even begin to scratch the surface of grasping its full capabilities. Aside from gaming, other ways users will be able to leverage the Metaverse include virtual home tours, mock brick-and mortar store locations, and theme parks, along with much more. Essentially, the idea of the Metaverse is to provide people with a myriad of experiences all from the comfort of one convenient location. 

Even though the goal of the metaverse is generally harmless, that doesn’t mean it won’t come without its fair share of downsides. One of the risks that the metaverse poses to users is an increased likelihood of developing an addiction to technology. On a broader scale, as people get more comfortable communicating solely through digital mediums like VR chat rooms, the risk of social fragmentation becomes greater, too. For current participants in the Metaverse, the risks haven’t averted them from acting as pioneers in the next digital frontier. There are numerous ways people curious about the Metaverse can join.

How Do People Join the Metaverse?

Although the most common pathway into the Metaverse seems like Meta’s Oculus Quest, there are actually numerous ways people can explore the Metaverse. Other options for virtual reality platforms, aside from the Oculus Quest, include the HoloLens2 Microsoft Smart Glasses, HTC Vive, and soon the PSVR 2. Each of the platforms has its own pros and cons that consumers will need to closely analyze before making a decision. Most people have chosen to go the route of the Oculus Quest due to the fact that it doesn’t require the connection of a PC or external gaming system. It’s also important to keep in mind that each virtual reality headset has different capabilities. Taking that into consideration, if someone is hoping to purchase a virtual reality headset for the purpose of being able to take meetings in VR, they’ll be seeking different specs than someone on the search for one for gaming purposes. The advent of the Metaverse seems as though it’s still in the early phases. Where it could end, along with the impact it has on humanity still remains to be seen.

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