Binance founder Changpeng Zhao shared insights on the All-In Podcast about the company's transition from a SaaS business to launching its own cryptocurrency exchange. Initially, Zhao's team operated a SaaS software licensing business, charging fixed monthly fees to exchange clients. However, in March 2017, Chinese regulatory changes led to the closure of most of their clients, prompting the team to pivot. By May 2017, leveraging their technical expertise, Zhao's team decided to create a crypto-to-crypto trading platform, marking the inception of Binance. This strategic shift laid the foundation for Binance's rapid growth into one of the world's leading cryptocurrency exchanges.