Changpeng Zhao

If it's such a simple thing, why didn't the other guys do it?

I think a lot of people have in their heads that they want to maximize their cut on each transaction.

What you want to do is actually you want to minimize your cut on each transaction and you want to increase the number of transactions.

So you multiply the scale.

Many people just can't handle it.

Many people just want to take the maximum that's possible, that's ours.

But for example, if you look at some of the largest businesses, Google,

Google makes fees on advertising, but they provide a lot of free infrastructure in the internet space.

The time clock that we use is probably synced with a Google time server, and that's completely free.

The DNS services is completely free.

So they provide a lot of infrastructure to run the internet completely free.

They just make money from advertising, like from some ads.

And now the ads coverage is more spread across different products.

But for years, they only advertise on search.

Gmail was no ads.

Google Maps was no ads for years.

But they were able to make enough money to sustain themselves.

We were in a very lucky, same fortunate situation where

our revenues from a small amount of business, from a few businesses, were able to sustain us to provide more free services to everyone so that we can grow the industry, we can grow the crypto industry.

And so if you provide a value of 10 and you charge only two and you can sustain yourself and you can scale, your business will grow really fast.