- Changpeng Zhao, or CZ, founded Binance, the world’s largest crypto exchange.
- He has 9.7 million social media followers.
- CZ has faced criticism for his alleged role in the FTX incident, which he refutes.
| Category | Entrepreneur |
| Founder | Binance |
| Net Worth | $10.2 Billion |
| Followers | 9.7 Million |
| Date of Birth | 1977 (46 Years) |
| Place of Birth | Jiangsu, China |
| Nationality | Canadian |
Who is Changpeng Zhao?
Born in Jiangsu, China, in 1977, Changpeng Zhao’s family moved to Vancouver, Canada, during his youth.
After studying computer science at McGill University, CZ had key roles at Blockchain.info, learning crypto operations. As CTO of OKCoin in 2014, he shaped tech growth, setting the stage for Binance.
CZ’s entrepreneurial path led him to create trading software for matching trade orders for the Tokyo Stock Exchange. Later, he worked for Bloomberg Terminal, solidifying his financial and tech expertise.
Social Media
X: 8.6 Million (@cz_binance)
Instagram: 470K (@changpendzhao)
LinkedIn: 66K (@changpengzhao)
Website: https://www.binance.com/
What are Changpeng Zhao’s achievements?
Founding Binance
Zhao is known for creating Binance. It was initially based in China, but the exchange moved out following the government’s clamp on crypto in 2017.
In only 180 days of its launch, Binance became the world’s largest digital asset exchange with a weekly trading volume of $3.7T.
Over the years, CZ transformed Binance into a top ecosystem, including Exchange, Binance Labs, Launchpad, Academy, Research, Trust Wallet, NFT, and more.
Influence on the Crypto Community
Changpeng Zhao has been vocal about his crypto insights in conferences like Binance Summit: The World of DeFi, Consensus Conference, and TC Sessions: Crypto 2022.
In addition, the Binance Smart Chain has changed the DeFi. It offers low rates, high speed, and scalability, which ETH still lacks, helping the growth of protocols like PanCakeSwap and BakerySwap.
CZ also created Binance Labs in 2017, a venture capital arm of Binance, which supports Web3-based projects, giving them mentorship and fund assistance. It has invested in 100+ projects, including Audius, Torus, and Marlin Protocol.
What is Changpeng Zhao’s Net Worth?
As of 2023, Changpeng Zhao ranks 167th on Forbes’ richest list, possessing $10.2 billion.
Most of his wealth is derived from a 30% stake in Binance and his cryptocurrency holdings, including Bitcoin and BUSD.
He was also behind the creation of the Binance Charity Foundation, which he donated $10 million to.
CZ has also supported initiatives like The Giving Block’s Crypto Giving Pledge and UNICEF’s blockchain-powered efforts for children and families worldwide.
Despite all this wealth, CZ has publicly announced that he aims to donate more than 90% of his wealth to charity.
Controversies and Challenges
In November 2022, Zhao sold all Binance FTT tokens after finding an $8 billion hole in FTX’s sheets, which sparked panic among investors.
But later, Changpeng Zhao explored acquiring FTX amid liquidity problems.
Binance withdrew its bid due to an $8 billion hole in FTX’s balance sheets, resulting in FTX filing for Chapter 11 bankruptcy despite a valuation of $32 billion. Zhao was criticized for this move.
Zhao was also heavily criticized when Binance experienced a major security breach in 2019.
The hackers stole user API keys, 2FA credentials, and other sensitive data, causing a loss of around 7,000 BTC. In response, Binance reimbursed the affected.
The Rise or Fall?
Whether it was the FTX saga or buying distressed assets to support the industry, Changpeng Zhao has become the most influential figure in the crypto space.
Considering this, it is obvious that CZ will be a leading voice in making the industry more regulatory-friendly.
Finally, his contribution to the growth of DeFi has been immense and second only to Vitalik Buterin, so we expect him to leave a bigger impact there, too.
Other influencers to Look for
Vitalik Buterin – Vitalik is a Russian-born programmer behind the second-largest blockchain, Ethereum.
More details
Vitalik Buterin co-founded Ethereum, the second-largest cryptocurrency by market capitalization. Known for his thought leadership, he has 6.8 million online followers. Plus, Vitalik has managed to build a $600 million net worth, with $45 million in off-chain assets.
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Founder of Ethereum and Bitcoin Magazine.
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6,8 million followers across channels.
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Net worth of $600 million.
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Criticized for market manipulation.
Winklevoss Twins – Winklevoss Twins are best known for their investments, foresight, and creation of Gemini- a leading crypto exchange in the US.
Michael Saylor – Michael Saylor is a Bitcoin Maximalist and the co-founder of MicroStrategy, a company offering business intelligence, mobile software, and cloud-based services.
More details
Michael Saylor is best known for co-founding MicroStrategy. As of 2023, he has a net worth of $1.4 billion, with 3.1 million followers on X. Plus, Saylor is the biggest shareholder in the business intelligence company and holds 17,732 Bitcoin (~469 Million).
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MicroStrategy founder.
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$1.4 Billion Net Worth.
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Owns 17,732 Bitcoin.
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Accused of insider trading.
Changpeng Zhao: ~$10 Billion
No country owns Binance; it was initially launched in China and moved out in 2017 after the government's crackdown on crypto. Binance says it does not have a headquarters and has declined to state the location of its main Binance.com exchange.
Yes, Changpeng Zhao is the CEO of Binance and was born in China. However, he later moved to Canada and had Canadian citizenship.
Binance has 37 institutional investors, including Vertex Ventures, Victory Square Technologies, and TrustVC.
In an interview, CZ revealed that he holds Bitcoin and BNB tokens.
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