Changpeng Zhao

  • Rating

    4.9

  • Net Worth

    $10.2 Billion

  • Followers

    9.7 Million

  • Founders

    Binance

Our Changpeng Zhao Review

Chanpeng Zhao is the force behind Binance’s quick success. With his thought leadership, he has garnered 9.7 million followers on social media platforms. These ventures have earned him $10.2 billion in net worth.

Pros
  • $10.2 Billion net worth

  • 9.7 million followers

  • Founded Binance exchange.

Cons
  • Regulatory contrains.

  • Acting out on Twitter.

TL;DR

  • 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.
Changpeng Zhao - Founder of Binance.
Changpeng Zhao – Founder of Binance.
Category Entrepreneur 
FounderBinance 
Net Worth$10.2 Billion
Followers9.7 Million
Date of Birth1977 (46 Years)
Place of Birth Jiangsu, China
NationalityCanadian

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.

Chanpeng Zhao - Founder of world's largest Crypto exchange.
Binance has become the world’s largest crypto exchange.

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.

Influence on Crypto, including Binance Labs, Academy, and Charity.
Influence on Crypto, including Binance Labs, Academy, and Charity.

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.

Controversies surrounding FTX purchase and 2019 hack.
Controversies surrounding FTX purchase and 2019 hack.

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. 

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