How Binance has taken advantage of the cyclical nature of the cryptocurrency market and its ebbs and flows to build a scalable and impactful business (Pete Rizzo/CoinDesk)


Pete Rizzo is editor in chief for CoinDesk.

Whatever people make of the cryptocurrency exchange Binance and its leader, Changpeng Zhao, the company’s success isn’t just unprecedented, it’s precedent-setting.

Binance, I would argue, is emerging as the case study for growing a cryptocurrency business, a success that’s much needed in a community that spends too much time talking up the potential of its technology and too little time analyzing viable go-to-market strategies that can drive the technological sea change we foresee.

In that regard, I think the market is only just beginning to understand just how visionary Binance is and what its success – in terms of market timing and product impact – says about something we all are striving to find: a model for building scalable and impactful cryptocurrency businesses.

Indeed, at a time when many cryptocurrency startups are going through pivots and layoffs, Binance feels as if it’s hitting its stride, offering a deeper level of new, innovative products that are moving the industry forward in just the right ways at just the right times.

It’s a feat made more complex by the boom-bust nature of the cryptocurrency market, in which opportunities for user growth come and go

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