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Changpeng Zhao, also known within the crypto community as CZ, a Binance cofounder and its former CEO, has taken to his account on the X platform to give a crucial piece of advice to young crypto entrepreneurs.
His tweet explains the best way to present one’s product to crypto investors.
CZ teaches crypto entrepreneurs
Zhao addressed developers and entrepreneurs, urging them not to take the path of least resistance when working on a product and to focus on quality rather than on design.
According to him: “The fancier the slides, the weaker the product.”
He believes that spending time on the product itself and thinking about how it looks only after that is the key way to success: “Spend time on the latter.”
He also shared advice on how to present a product to investors. Since CZ is a renowned investor himself, he revealed that the right degree of generalization is important. The presentation should be concise, with emphasis only on key points: “Everything I need to see (as an investor) can be expressed in text bullet points and bar charts.”
BNB falls 8% from recent ATH
Earlier this week, the fifth-largest cryptocurrency, Binance Coin (BNB), reached a new historic price high, soaring to $859 per coin. That was the third all-time high reached over previous week. That price jump boosted the fiat value of CZ’s BNB holdings; he owns more than 60% of the circulating supply, and some thought at that point that he surpassed Bill Gates and Warren Buffett in net worth.
However, by now, Binance Coin has lost almost 8% and is currently changing hands at $790. Its market cap has also shrunk, going from $119 billion to $110 billion as of now.
Dan Burgin
Vladislav Sopov
U.Today Editorial Team