Changpeng Zhao (CZ): The Visionary and His Journey to the Top of Crypto

Changpeng Zhao, better known as CZ, is one of the most influential figures in the cryptocurrency world. 

As the founder and former CEO of Binance, the world’s largest cryptocurrency exchange by trading volume, Zhao has shaped the industry through innovation, speed of execution, and global expansion.

From humble beginnings in Jiangsu, China, to becoming a Chinese-Canadian billionaire, CZ’s story is a classic tale of determination, strategic thinking, and taking calculated risks. 

This article dives deep into who Changpeng Zhao is, his career trajectory, recent developments, and his net worth, while also exploring his impact on the global crypto market.

Early Life and Education

Changpeng Zhao was born in Jiangsu, China, in the late 1970s. His father, a university professor, faced political persecution and was labeled a “pro-bourgeois intellect,” leading the family to move to Vancouver, Canada, in the late 1980s.

In Canada, CZ worked various part-time jobs during his teenage years before earning a degree in Computer Science from McGill University in Montreal. 

This academic foundation gave him the technical expertise that would later become the backbone of his career in finance and blockchain.

Opportunities move fast in crypto, but informed users move faster. Keep up with the newest trends and tools by reading the Bitrue Blog today.

Read Also: Is CZ Suing Bloomberg for the USD1 Misinformation?

Career Before Binance

Before stepping into the cryptocurrency space, CZ built an impressive resume in traditional finance and technology:

• Tokyo Stock Exchange – Developed software for matching trade orders.

• Bloomberg Tradebook – Worked as a developer for futures trading systems.

• Fusion Systems (2005) – Founded a high-frequency trading platform for brokers.

His entry into crypto came in 2013 when he joined Blockchain.info and later became CTO at OKCoin. These roles gave him firsthand exposure to digital assets, exchanges, and the potential of blockchain technology.

Founding Binance and Rapid Growth

In 2017, Changpeng Zhao launched Binance after raising $15 million through an initial coin offering (ICO). Binance’s growth was unprecedented in less than 180 days, it became the largest cryptocurrency exchange in the world by trading volume.

By early 2019, Binance reached a daily trading volume of $500 million. Its success was built on:

• Low trading fees and user-friendly interface.

• Fast listing process for new cryptocurrencies.

• Global expansion with localized platforms in multiple countries.

Read Also: Justin Sun vs CZ Drama Continues! Are There Any New Evidence of Plea Deal?

Recent Developments: Binance & BBVA Partnership

In August 2025, Binance made headlines for teaming up with Spanish bank BBVA to allow customers to hold their crypto assets off the exchange. This move is seen as an effort to:

• Improve security and transparency for users.

• Address regulatory concerns after the collapse of FTX in 2022.

• Build institutional trust by using established financial custodians.

BBVA already offers crypto custody services in countries like Turkey and Switzerland, and this partnership signals Binance’s push toward more robust compliance measures.

Legal Challenges and Setbacks

Despite its success, Binance and CZ have faced increasing regulatory scrutiny. 

In February 2025, U.S. authorities fined Binance $4.3 billion for violations of anti-money laundering and sanctions laws. CZ himself was sentenced to four months in prison.

While this marked a significant moment in his career, CZ has continued to influence the industry, even stepping back from direct operational control to focus on strategic initiatives.

Read Also: Another Drama How Changpeng Zhao CZ is Accused of Money Laundering

Changpeng Zhao Net Worth

CZ’s net worth has fluctuated dramatically due to crypto market volatility and legal challenges. At its peak in 2021, his fortune was estimated at over $90 billion, placing him among the richest people in the world. 

As of 2025, estimates suggest it’s still in the billions, largely tied to his stake in Binance and crypto holdings.

Legacy and Influence in Crypto

Changpeng Zhao’s vision for Binance transformed it into more than just an exchange — it became a global crypto ecosystem with services including DeFi platforms, NFT marketplaces, blockchain research, and educational initiatives. 

Even after stepping back from day-to-day leadership, CZ remains a symbolic leader and influential voice in the cryptocurrency industry.

Maximize your potential and minimize the guesswork with reliable insights and expert content. Discover what’s next on your crypto journey at Bitrue, register now!

FAQ

Who is Changpeng Zhao?

Changpeng Zhao, also known as CZ, is the founder of Binance, the largest cryptocurrency exchange in the world. He is a Chinese-Canadian entrepreneur who played a pivotal role in shaping the modern crypto industry.

What is CZ Binance known for?

CZ Binance is known for building Binance into a global crypto powerhouse in less than a year, pioneering fast trading systems, low fees, and an extensive selection of cryptocurrencies.

What is Changpeng Zhao’s net worth?

At his wealth peak in 2021, Changpeng Zhao’s net worth was estimated at over $90 billion. In 2025, despite market fluctuations and legal issues, his fortune remains in the billions, primarily tied to his Binance stake and crypto holdings.

How did Changpeng Zhao start in crypto?

CZ entered the crypto space in 2013, working for Blockchain.info and later becoming CTO at OKCoin before launching Binance in 2017 through a $15 million ICO.

What challenges has CZ faced recently?

In 2025, Binance faced a $4.3 billion U.S. regulatory fine, and CZ was sentenced to four months in prison for compliance violations. He has since shifted focus to strategic and advisory roles in the crypto industry.