Early Life and Education
Changpeng Zhao, or CZ, was born in Jiangsu, China, in 1977. His family immigrated to Vancouver, Canada, in the late 1980s. During his teenage years, CZ worked various service jobs to support his family, including McDonald's and at a gas station. He pursued a computer science degree at McGill University in Montreal.
Rise to Success
After graduating, CZ began his career in the finance and technology industry, working in Tokyo and New York. He developed software for the Tokyo Stock Exchange and Bloomberg's Tradebook. He moved to Shanghai in 2005 to start Fusion Systems, specializing in high-frequency trading systems. CZ's interest in Bitcoin sparked in 2013, leading him to enter the crypto industry. He sold his apartment to invest in Bitcoin. In 2017, he founded Binance. Within months, Binance became the world's largest crypto exchange by trading volume.
Key Business Strategies
Binance's success is attributed to its user-friendly interface, a wide range of listed coins, and strong security measures. CZ also launched Binance Coin (BNB), a utility token offering various benefits. Binance expanded rapidly, attracting millions of users globally. In November 2023, CZ stepped down as CEO of Binance as part of a settlement with U.S. authorities after pleading guilty to failing to maintain an effective anti-money laundering program.
Philanthropy
CZ has supported charitable causes, including education and disaster relief. He aims to make a positive impact through his wealth.