Welcome to our spotlight article on Changpeng Zhao. If you’re new to the crypto scene, “CZ” is the founder and CEO of Binance, the world’s most popular crypto exchange. Needless to say, he is one of the most influential people in the cryptocurrency and blockchain industry In turn, he was one of our first choices as a source on Crypto24.
So, let’s get to know him a little better!
Top 17 things to know about Changpeng Zhao
- Changpeng Zhao was born in Jiangsu province, China in 1977. Following the civil unrest and protests in China in the 1980s, his family moved to Canada in 1989.
- CZ’s parents were both educators and instilled in him a love of learning and curiosity about the world.
- He showed an early talent for mathematics and programming and was fascinated by computers and technology.
- He worked odd jobs as a teenager (including McDonald’s) and became interested in computer programming after his father bought the family its first computer.
- After finishing high school, CZ went on to study computer science at McGill University in Montreal.
- He started his career in the finance industry, working at companies like Bloomberg Tradebook and Fusion Systems before becoming interested in Bitcoin and cryptocurrency.
- Changpeng Zhao started working on his own cryptocurrency exchange in 2013, after hearing about cryptocurrencies through friends when playing online poker.
- CZ had such a huge belief in Bitcoin, that he sold his apartment and bought one million dollars worth of Bitcoin when it was trading at around 600 USD.
- He launched his exchange, which eventually became Binance, in Shanghai, China in 2017.
- Amazingly, Binance became the world’s biggest cryptocurrency exchange within a year of its launch. Currently, it manages billions of dollars in daily trading volume.
- Zhao is a majority shareholder in Binance, and his net worth reached nearly 100 billion USD during the crypto bull run of 2021. Now, it sits at around 25 billion USD.
- After initially setting up a base in China, Binance moved its headquarters to Malta in 2017. China’s scrutiny and regulation of cryptocurrencies would be the first of many countries to dissuade Binance from setting up shop there. After Malta, Binance had plans for Singapore, but eventually, it evolved into a headquarters-less business.
- CZ is known for his hands-on approach to running Binance, and has a reputation for being accessible to his employees and customers.
- This rolls over onto his Twitter account, where he regularly interacts with other users and personally addresses discussions about Binance and crypto in general.
- Binance has faced controversy over issues like regulation and security, and CZ has been criticized for its perceived lack of transparency. Despite the controversy, Binance continues to be a major player in the world of cryptocurrency. CZ’s efforts have been credited with helping to bring mainstream attention to the industry.
- Forbes has also recognized Zhao’s status in the business world, naming him on their “30 Under 30” list, as well as “Crypto Rich List”.
- CZ has received a number of awards within the crypto industry, including being listed as one of the “Most Influential People in Blockchain” by CoinDesk.
Overall, CZ has become synonymous with Binance, crypto-related innovation, and entrepreneurship. He is one of the biggest success stories of the crypto space, and, as a widely-respected speaker, his Twitter account is one of our most valuable sources on Crypto24.
