Binance Boss Gives Tricks To Keep Solid Teams In Startups

Changpeng Zhao. (Photo; Doc. Tronweekly)

Changpeng Zhao, CEO of Binance, provided an explanation through social media about the "little secret" he believes in building a compact team in the company. This comes after several reports indicated that several high-level executives had left the company in response to an investigation conducted by the US Department of Justice.

Zhao explained that outside pressure is key to building and keeping a strong team in a startup. According to Zhao, this pressure should not be life-threatening and fighting together is the best way to build a compact team.

The statement comes at a time when Binance is facing pressure from regulators around the world, especially in the US, where they are dealing with lawsuits from the CFTC and SEC. Several international regulators also asked Binance to withdraw its operations from their jurisdictions.

However, Zhao sees this situation as the strength of the Binance team, as they always face external pressure and experience various accusations and rumors. According to him, this made the team stronger and always together in dealing with it.

Previously, Zhao had responded to rumors about the "crisis" in Binance caused by the departure of several high-level executives by calling the report the FUD (terror, uncertainty, doubt). He stated that the report was untrue and wrong in giving reasons behind the departure.

Despite Binance facing current pressure and challenges, Zhao remains optimistic about the team's strength and the company's ability to overcome this situation. For him, external pressure is part of a business journey and is a factor that helps build a strong and solid team foundation.