Why does Binance want to distribute tokens widely?
Binance's success stemmed from its largest single compensation in history—6 million dollars. Today, Binance founder Zhao Changpeng (CZ) shared this story on X.
The story begins in 2017. Binance had just been founded, and on July 14, they held an ICO, raising 15 million dollars, which was a good start.
However, within less than 6 weeks, on September 4, China suddenly dropped a heavy bombshell—completely banning cryptocurrency exchanges and mining, and requiring ICO projects to return users' funds. Once the news broke, the market was thrown into chaos, with many token prices plummeting below their issuance prices, and BNB falling from 22 times to 6 times, experiencing a significant drop.
