- Binance CEO Changpeng Zhao published a 6,000 word document on his management style.
- He stated in it that he does not give verbal compliments to employees.
- He wrote that if we make a huge deal out of each “little” accomplishment, it makes us feel like we are setting an unreasonable standard.
Changpeng Zhao is the founder and CEO at the world’s largest cryptocurrency exchange. Document of 6,000 wordsThursday will be all about his management style.
Binance employees There are thousands of employeesIn engineering, marketing, business growth, and other positions. Zhoa won’t tell these employees much. Compliments.
“If something is done well, people may say, “Good job, great work!” Zhao replied, “Probably not so much from you.” Zhao said that he confronts employees who make mistakes or do poorly with tasks.
“If we make a big deal of every ‘little’ achievement, it feels like our standards are too low. Zhao stated that it is not something we would like to do.
Zhao said he doesn’t give compliments out because it can lead people to believe they are favoritism. Zhao also stated that congratulating someone for doing a good job isn’t time-efficient.
“Satisfaction should be found within. The CEO stated that when I do something well, my inner intrinsic reward are sufficient.
He said, “I’m not saying that this is a good strategy. It’s just how it works for me.”
As it faces challenges from the Chinese, Binance has been at the center of controversy and acclaim. It is not possible to use it for illicit transfers of funds, according to authorities. The exchange opened on October 7. HackedTheft of Binance Coin worth around $100 billion was reported.
Zhao is a well-known figure in the blockchain industry. The Chinese-Canadian billionaire is the world’s 37th most wealthy person and has a net worth of $28.5 billion. According to the Bloomberg Billionaires Index.
