Will Binance’s New CFO Wei Zhou Lead the Company for an IPO?
Circulating news within the digital industry has highlighted Wei Zhou’s new role as Binance’s CFO. The company has established itself as the largest digital asset trading platform in the world. Zhou’s fifteen years of executive background in capital markets, media, internet & technology in both the United States and China, in addition to his academic background, has made him an attractive candidate to run the company’s finance team.
A Successful Past and Promising Future
After receiving his bachelor’s degree in Economics from Harvard University, Zhou spent four years in Goldman Sachs’ Hong Kong office at the capacity of a specialist in the company’s investment banking department. Zhou was part of two successful IPOs in two of his previous roles; one of which was his position as a CFO at Zhoapin Limited, considered to be one of China’s most recognized online recruitment platforms. The second of which was his role as Charm communication’s CFO. Throughout these professional experiences, he managed to lead both companies’ IPO on the NY Stock Exchange as well as the National Association of Securities Dealers Automated Quotations Exchange.
Paying attention to his competitor’s activities, Changpeng Zhao, Bincance’s CEO and founder, showed that he plans to disregard any intentions of going public regarding an IPO on his personal Twitter page. It is worth noting that Zhou joined Binance around the same time as one of his most direct competitors announced plans for an IPO and hence, the hiring of a CFO.
Zhou intends to work as both Grinder’s vice-chairman, the wide-spread LGBT dating app, after his efforts to facilitate a successful acquisition by Beijing Kunlun Tech, a well-known Chinese gaming corporation, as well as Binance’s CFO.
The Switch to Modern Finance
Zhou is best described as a traditional financial manager who decided to follow the “modern ways” of finances by directing his efforts towards blockchain and crypto interests. Multiple managers who come from the traditional system of finance are now finding this new industry more appealing as seen in their advocacy towards cryptocurrency startups. FXcoin, for example, managed to hire Yasuo Matsuda, a former Deutsche Bank dealer for the role of a virtual coin strategist. In addition Edward Budd, one of German Lender’s ex-executives, partnered up with Julio Faura who held the position of an innovation manager at Strander and has announced the establishment of his new blockchain company.