Ep. 525 From Binance to Coins.ph with Wei Zhou

CRYPTO 101

Bryce Paul & Brendan Viehman

Business, Investing

4.6 • 821 Ratings

🗓️ 6 April 2023

⏱️ 44 minutes

🔗️ Recording | iTunes | RSS

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Summary

In this episode of Crypto 101 we talk to Wei Zhou the CEO of Coins.ph. Wei was the former CFO of Binance and worked closely with CZ to build the Binance Empire. Wei gives us some insight at what working at Biannce was like and how it taught him some important lessons of building a crypto business that he has not taken to Coins.ph which is based in the Philippines. Dive into what Coins.ph is building and hear how Wei talks about building a crypto business in a country that is helping build regulatory framework to help innovation whereas us in the US are used to negative regulatory actions or inaction.

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Transcript

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0:00.0	All right, everybody, welcome back to the Crypto 101 podcast.
0:12.5	We got a very special guest.
0:15.4	Man, this one's going to be exciting.
0:16.8	A former CFO of Binance, which is currently, I think the world's largest exchange for cryptocurrency, but might not be for long.
0:28.3	Wei Zhao has since left and is now the CEO and main shareholder of Coins.P.H., which is the largest crypto exchange in the Philippines.
0:39.5	And maybe soon the world. Who knows?
0:45.1	Way, welcome to the Crypto 101 podcast. Sure. Thanks for having me. Really. Thanks for having me here.
0:50.9	Yeah. No, it was funny. Right before the show, I was saying, you know, man, I recognize you.
0:57.3	Because I saw you back in 2019 and really in Singapore. Binance had a big conference and there was like, you know, the very first time that like, you know, Sam
1:03.9	Bankman-Fried kind of came out and launched Alameda and, you know, so we go back. Yeah, that was
1:10.0	like, you remember, that was like the
1:12.4	debt of the bear market. That was literally, dead of the bear market. It was the, uh, the sort of like
1:17.7	the world was like crypto has ended. ETH is like under 100. Yeah. Right. Substratum was shorting
1:25.0	Ethereum with their treasury at 80 bucks. Pretty much.
1:29.0	And then I had joined Binance in the summer of 2018.
1:34.1	And then so I was a little bit sheltered, I think, from sort of the market crashing, I think, from like second half of 17.
1:42.1	And then my role there was, uh, I basically built up
1:45.7	the, uh, the investment business there. So sort of led a lot of the M&A and they sort of also
1:50.1	started building up the fiat business there. So like my title was a CFO, but, uh, but it's more
1:54.8	of like, uh, what I call like a growth CFO rather than an accounting CFO. Yeah, I mean, what's the statistic about Binance?
2:02.1	Was it the fastest company to a billion dollars in profit ever?
2:05.8	The fastest to a billion dollar valuation?
	...

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