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cz

CZ: Left OKCoin early due to inconsistency with its culture and values, only worked there for 8 months

CZ shared his early career experiences with Chamath Palihapitiya on the All-In podcast, including his work at Blockchain.info (now Blockchain.com) and OKCoin, as well as his deep understanding and value choices in the early Bitcoin industry.Joining Blockchain.info: CZ mentioned that the team had only three members at the time, and he served as the Vice President of Technology. The team later expanded to 18 members, but a restructuring by the CFO led to changes in corporate culture, causing several developers, including CZ, to leave voluntarily. He emphasized that he learned about remote work, the concept of paying salaries in Bitcoin, and how to achieve rapid user growth to around 2 million through "guerrilla" marketing (such as a 150-page post on BitcoinTalk.org).Joining OKCoin: After leaving Blockchain.info, He Yi contacted CZ to invite him to join OKCoin, initially offering a 5% equity stake, but BTC China offered 10%, prompting OKCoin to match the offer within three hours. CZ ultimately chose to join OKCoin in Beijing as CTO, taking on greater business responsibilities.Reasons for leaving OKCoin: CZ revealed that the main reason was a mismatch in culture and values. For example, "It mainly comes down to a mismatch in culture and values; there are some practices I cannot agree with. A simple example is: when they hold events or promote fee discounts, the advertisements make it sound like everyone can enjoy it, but in reality, you have to actively apply to receive it, and it doesn't take effect automatically. Details like this made me uncomfortable." CZ decided to leave in early 2015.

CZ responds to FUD: Binance did not sell $1 billion worth of Bitcoin, the SAFU fund will gradually buy Bitcoin over the next 30 days

CZ issued a response stating that over the past two days, some rather imaginative FUD has been observed, and he clarified each point:Regarding a circulating Polymarket screenshot that asked, "Will someone throw something at CZ's face during the crypto event in 2026," CZ stated that this event does not exist on Polymarket or any prediction market, and there is no so-called $7 million trading volume; the related screenshot is fabricated.On the claim that "CZ canceled the super cycle," CZ bluntly said this is an overinterpretation. He only mentioned that he is "not as confident as before."Concerning the rumor that "Binance sold $1 billion in Bitcoin," CZ clarified that it was Binance users who sold, not Binance itself. Changes in Binance wallet balances typically occur only when users withdraw funds; many users still keep their assets on Binance as a wallet after trading.Additionally, in response to the doubts about the SAFU fund not buying BTC, CZ stated that Binance has clearly mentioned it will complete the conversion within 30 days, suggesting that Binance's initial plan might be to gradually complete the purchases within these 30 days; then, close to the end of the 30 days, or on a weekly basis, transfer the funds to the corresponding addresses. Of course, it is impossible to see them buying through DEX. Considering Bitcoin's market cap of about $1.7 trillion, the impact of buying $1 billion in Bitcoin in batches over 30 days on the Bitcoin price and whether it enhances market confidence is left for the market to judge.
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