Who is Changpeng Zhao?

One of many famous names in the cryptocurrency industry is Changpeng Zhao, known as CZ the founder of Binance. 

In this article, we take a comprehensive look at Changpeng Zhao’s life, from his early days and career beginnings to founding Binance, facing legal scrutiny, and his continued influence in global crypto affairs.

Who is Changpeng Zhao?

Changpeng Zhao, widely known as CZ, is a name that has become synonymous with the world of cryptocurrency. As the founder and former CEO of Binance, Zhao's rise to prominence is a story of resilience, innovation, and controversy. 

With a background in software development and high-frequency trading systems, CZ used his technical prowess to revolutionize digital finance. 

Despite legal challenges, he remains a pivotal figure in the crypto space and a billionaire entrepreneur with influence spanning from Asia to the Middle East.

Read Also: Is CZ Connected to USD1? Binance Founder Responds to Controversy

Early Life and Education

Changpeng Zhao was born in Lianyungang, Jiangsu province, China, in 1977. His father, a university instructor, was labeled a "pro-bourgeois intellect" and temporarily exiled, a political stain that impacted the family's future. 

In the late 1980s, Zhao immigrated to Canada with his family, settling in Vancouver. During his youth, he worked various service jobs, including flipping burgers at McDonald’s and working overnight shifts at gas stations to support his family.

He later attended McGill University in Montreal, majoring in computer science. This academic foundation laid the groundwork for his future ventures in software development and financial technology.

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Professional Beginnings and Tech Career

Zhao’s career began with an internship in Tokyo, where he worked on trading systems for the Tokyo Stock Exchange. 

He later joined Bloomberg Tradebook, developing software for futures trading, before launching his first startup, Fusion Systems, in Shanghai in 2005. Fusion became known for its ultra-fast trading platforms for brokers, earning Zhao industry-wide recognition.

His first exposure to Bitcoin came in 2013, during a poker game with Bobby Lee, who suggested Zhao invest. 

Inspired, he sold his Shanghai apartment and invested all his wealth into Bitcoin. That year, Zhao joined Blockchain.info and served as CTO at OKCoin, gaining deep experience in crypto platforms.

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

Founding Binance

In July 2017, CZ launched Binance through a $15 million initial coin offering. Just eight months later, Binance had become the world's largest crypto exchange by trading volume. 

CZ also introduced Binance Coin (BNB) and later Binance Smart Chain, expanding the platform’s ecosystem. In 2019, Binance.US was launched to comply with U.S. regulations.

In 2022, Zhao made headlines by investing $500 million to support Elon Musk’s acquisition of Twitter. Despite the growing success, Binance faced regulatory scrutiny from U.S. authorities, leading to severe legal consequences.

Legal Troubles and Resignation

In 2023, the CFTC and SEC filed lawsuits against Binance and Zhao, alleging evasion of U.S. laws and violations of securities regulations. 

That same year, Zhao pled guilty to violating the Bank Secrecy Act, agreeing to step down as Binance CEO and pay a $50 million fine. Binance was also fined $4.3 billion.

In April 2024, Zhao was sentenced to four months in prison and was released in September 2024. Despite the controversies, he continues to influence the blockchain space and has taken on advisory roles.

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

Recent Developments and Wealth Growth

As of July 2025, Changpeng Zhao's real-time net worth is $71.2 billion, placing him 23rd globally. 

His wealth history shows significant fluctuations, peaking in 2022 before a sharp decline and strong recovery by 2025. This trajectory reflects both the volatility of crypto markets and Zhao’s ongoing relevance.

In 2025, Zhao was appointed as a strategic advisor to the Pakistan Crypto Council and also joined the President of Kyrgyzstan as an advisor on digital assets.

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FAQ

What is Changpeng Zhao's net worth in 2025?

As of July 28, 2025, Changpeng Zhao has a real-time net worth of $71.2 billion, making him the 23rd richest person globally.

Why did Changpeng Zhao step down as Binance CEO?

Zhao stepped down in November 2023 as part of a legal settlement with U.S. authorities after pleading guilty to violating anti-money laundering laws.

Where does Changpeng Zhao live now?

He currently resides in Dubai, United Arab Emirates.

What advisory roles does Changpeng Zhao currently hold?

In 2025, he became an advisor to both the Pakistan Crypto Council and the President of Kyrgyzstan on matters related to crypto and digital assets.

What was Zhao's first startup?

Zhao founded Fusion Systems in 2005 in Shanghai, a tech firm specializing in high-frequency trading platforms.

How did Zhao get started in crypto?

He was introduced to Bitcoin in 2013 and soon invested his life savings, which led him to roles at Blockchain.info and OKCoin before founding Binance.