Changpeng Zhao, commonly known as CZ, is the co-founder and former CEO of Binance, the world’s largest cryptocurrency exchange by trading volume. Born in China on September 10, 1977, CZ moved to Canada.
Early Life and Education
His upbringing influenced CZ’s journey into the world of technology and finance. His father, a professor and programmer, and his mother, a teacher, instilled in him a strong foundation in learning.
Growing up, Changpeng Zhao was exposed to programming at an early age, with his father investing in a computer for him when he was a child. By the time he was in high school, he was already enrolled in programming courses.
His passion for technology led him to apply for an internship at a software firm while studying at McGill University, where he started learning about virtual-reality markup languages like HTML.
He completed his education at McGill University in Montreal, majoring in Computer Science.
Career
After completing his education, CZ moved to Japan, where he worked for a company outsourcing for the Tokyo Stock Exchange. His role involved developing trading systems, an experience that would later shape his path in the cryptocurrency industry.
In 2005, Changpeng Zhao co-founded Fusion Systems, a company that developed high-frequency trading systems for brokers. He later worked as the Chief Technology Officer at OKCoin (now known as OKX) and was a key member of the team that developed Blockchain.info.
Founding Binance
In July 2017, CZ took a bold step and founded Binance, which would quickly rise to prominence in the crypto world. With a successful initial coin offering (ICO) raising $15 million, Binance became the largest crypto exchange in less than two years.
Binance’s Growth
Binance’s success can be attributed to his vision and his ability to solve key issues faced by other crypto exchanges. His platform introduced faster transaction speeds, improved user interfaces, better customer service, and lower fees.
His commitment to a global audience and his focus on mobile support helped set Binance apart from its competitors. As of March 5, 2025, Binance is the largest cryptocurrency exchange by trading volume, processing $23.3 Billion with over 400 coins listed on the crypto exchange.
Personal Life and Philosophy
Despite his immense wealth, CZ is known for his minimalist lifestyle. He does not own a car or a house, preferring instead to value liquidity over ownership. In an interview with Bloomberg, he stated:
“I don’t have a car. I don’t have a house. The problem with cars, houses, is that I just don’t think they’re liquid.”
He said his focus remains on expanding Binance and continuing to invest in cryptocurrencies rather than material possessions.
Challenges and Controversies
Changpeng Zhao faced several regulatory scrutiny in multiple countries. In 2021, Binance was investigated by the U.S. Justice Department and the Internal Revenue Service for potential money laundering. On April 30, 2024, the U.S. Justice Department found him guilty for money laundering violations and was sentenced to four months in jail. Additionally, China’s ban on cryptocurrency transactions affected Binance’s operations.
Net Worth and Future
By 2021, CZ’s net worth had skyrocketed to $96 billion, making him one of the wealthiest crypto billionaires. However, his fortune has fluctuated, according to Forbes Magazine, his net worth is currently reevaluated at $60.7 billion in 2025 due to the volatility in the cryptocurrency market.
Quick Facts About CZ:
- Date of Birth: September 10, 1977
- Country of Origin: China
- Citizenship: Canada
- Residence: Singapore
- Education: McGill University, Montreal, Canada (Computer Science)
- Company: Binance (Global Crypto Exchange)
- Cryptocurrency Ranking: 5th richest crypto CEO
- Notable Coin: Binance Coin (BNB)