Chinese virtual currency exchange Binance has completed its successful fundraising round as of early September 2017. The 50-day-old platform has generated millions of dollars from venture capitalists in the financing round.
According to Binance CEO, Changpeng Zhao, the company will self-regulate and aim to become the leader in the industry.
“Technology is upgrading rapidly, we have to guide and become the industry leader. We will cooperate and comply with the government regulation, and ensure the interests of our investors. This way, the blockchain industry can and will continue to be developed in a healthy and sustainable way.”
Brief profiles of Binance’s major backers
Among the successful venture capitalists (VC) which supported the new digital currency exchange are Blackhole Capital and Funcity Capital. Blackhole Capital was established by Chinese real estate mogul Liang Zhang in 2014. Zhang has over 10 years of experience in real estate, artificial intelligence (AI), consumption development, and the entertainment sector.
Fundy Capital, meanwhile, was founded by Weixing Chen, who was also the founder of the smartphone-based transport services provider Kuaidi.
Binance’s management team
Binance’s founder and CEO, Zhao, is an expert in the development of trading systems. He previously worked at Bloomberg and Blockchain.info as head of the technology department.
Co-founder Yi He is a notable female entrepreneur in the Blockchain industry. She previously worked as the branding and marketing head of the virtual currency exchange OKCoin and Yixia Tech. Chief technology officer (CTO), Roger Wang, meanwhile, was a former senior architect at the investment bank Morgan Stanley and an expert in the finance and technology industry.