Know Your Crypto Billionaire: Changpeng Zhao

Changpeng Zhao, who goes by CZ, is the founder and CEO of Binance, the largest cryptocurrency exchange in the world
Who would have imagined that man that flipped burgers at Mcdonald’s would become one of the most recognized faces in crypto?

Changpeng is now the CEO of the largest crypto exchange by trading volume. CZ was born in Jiangsu on September 10th, 1977. He is currently 44 years. Jiangsu is an eastern coastal province of the People’s Republic of China. Changpeng Zhao is currently married. His wife’s name is unknown to the general people as he keeps his personal life from the public His father was a professor, was labeled a pro-bourgeois intellect, and was exiled after CZ was born. This led them to eventually settle in Canada.

Zhao migrated from China to Canada with his family by the time he was twelve years old this was in the late 1980s. During his education, Cz pursued a degree in Computer science at Montreal’s McGill University and majored in developing marketing software. During his course, he landed an internship in the Tokyo stock exchange and a job at global financial data giant Bloomberg that lasted four years.

As he worked in Bloomberg Cz developed his own company “Fusion systems” which built trading systems for brokers. He was also the head of technology at Blockchain.com. This is when Cz gained interest in Bitcoin. He used to once work at McDonald’s flipping burgers but now, he is the richest crypto billionaire.

With the fact that CZ came from the traditional financial space, he was inspired by Bitcoin, being borderless and unfettered by any intermediaries. He liked that Bitcoin addressed many money-related issues such as supply, freedom to deal, and low fees.

Cz built Binance in less than 8months while the Binance coin was launched in the same year 2017. Binance took its first step towards expanding in Abu Dhabi after getting the approval to start operations in April. The Chinese-Canadian coder cut his teeth building high-frequency trading systems for Wall Street’s flash boys.

Bitcoin currently has 120million users and over 50 billion are traded daily on the business platform. In 2019, Binance rose in value, to $4.5 billion in April of that year.

A thread on this FUD today. 163, a major news site in China, ran a story that Google translates to:

“Changpeng Zhao, the founder of Binance, was arrested in the mansion during the FBI raid, and a room of BNB and BUSD was found in the basement of the mansion.” 1/6 https://t.co/nRrGWlSt2r

— CZ 🔶 BNB (@cz_binance) August 18, 2022

The growth has increased rapidly since then. Binance was initially based in China but later moved its headquarters out of China following the Chinese government’s increasing regulation of cryptocurrency. Binance has been at the receiving end of scrutiny from regulators across the world.

We need to respect the market, with a level of caution too. It goes up and down in cycles. And especially the fact that it doesn’t always make sense.

Changpeng Zhao

Zhao is currently ranked 35th on the list of rich people while his net worth is 34.5 billion(all his net worth is in cryptocurrency). In 2019, CZ was 1,818 on Forbes’ list with a net worth of $1.2 billion. In climbing up to 19th place, CZ has leapfrogged a who’s who of billionaires, including Dell Computers founder Michael Dell, and Charles Koch of Koch Industries.

There is no shortage of cash to make in the $2 trillion cryptocurrency sector. In 2022, the number of billionaires who have acquired a fortune in crypto now stands at 19, up seven from 2021. He concludes in a zoom interview”If you want it!!, it won’t be hard for you to achieve”. stay motivated.