Changpeng Zhao
Born 1977 · Age 48
Chinese-born Canadian software engineer, investor and founder/former CEO of Binance, the world's largest cryptocurrency exchange by trading volume.
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Life & Career Timeline
Born in Lianyungang, Jiangsu, China
Changpeng Zhao (CZ) is born in Lianyungang, Jiangsu province, China.
Immigrated to Canada with family
Zhao and his family moved to Vancouver, British Columbia, Canada.
Teen service jobs to support family (approx.)
As a teenager in Canada Zhao worked service jobs including at McDonald's and a gas station to help support his family.
Attended McGill University (Computer Science)
Zhao enrolled at McGill University in Montreal and majored in computer science (exact graduation year not specified).
Worked at Bloomberg Tradebook (futures development)
Zhao worked at Bloomberg Tradebook developing futures trading software; sources cite ~4 years tenure ending 2005.
Married Yang Weiqing
Zhao married Yang Weiqing (marriage lasted until ~2005). They had two children; divorced around 2005.
Founded Fusion Systems in Shanghai
Zhao moved to Shanghai and founded Fusion Systems, a high-frequency trading platforms company for brokers.
Entered crypto — joined Blockchain.info (Head of Development)
Zhao became part of the Blockchain.info/Blockchain.com team as Head of Development (sources cite late 2013).
Sold Shanghai apartment and invested heavily in Bitcoin (reported)
After hearing about Bitcoin in 2013, Zhao sold his apartment and invested a large portion of his wealth in bitcoin (reported variations on exact year/amount exist).
Met business partner He Yi
Zhao met Yi He (co-founder/long-term partner) in 2014; they became life partners and later had three children together.
Joined OKCoin as Chief Technology Officer
Zhao joined Chinese exchange OKCoin as CTO; he led technical efforts including launching bitcoin futures on the platform.
OKCoin launches Bitcoin futures (Zhao in charge of tech)
OKCoin launched Bitcoin futures with Zhao responsible for technical implementation.
Founded BijieTech (exchange systems provider)
Zhao founded BijieTech, a provider of exchange/trading systems.
Launched Binance Coin (BNB) utility token
BNB launched as a utility token offering trading fee discounts and other benefits within the Binance ecosystem.
Raised $15 million via BNB ICO
Binance raised approximately $15M in an initial coin offering that funded the exchange's launch.
Founded Binance
Zhao left BijieTech to found Binance, a new cryptocurrency exchange (launch month July 2017).
Trading began on Binance (~11 days after launch)
Binance opened trading roughly eleven days after launch; the exchange rapidly gained users.
BNB token issuance (initial supply)
Binance issued 100 million BNB tokens for the public sale (part of 200M total issuance reported by some sources).
Appeared at TechCrunch blockchain event and other conferences
Zhao became a frequent speaker at major conferences (e.g., TechCrunch blockchain event July 6, 2018) and other industry forums.
Binance becomes world's largest exchange by trading volume
Within ~8 months of launch, Binance achieved the top position globally by trading volume (as of April 2018).
High-profile philanthropy pledge
Zhao publicly stated intent to donate up to 99% of his wealth over time, following philanthropic models of major tech philanthropists.
Forbes ranks him among richest in crypto
Forbes placed Zhao third on its list of 'The Richest People In Cryptocurrency' with estimated net worth $1.1–2B.
Launched Binance Academy (education arm)
Binance launched Binance Academy as an educational resource for blockchain and crypto topics.
Founded Binance Labs incubation program
Binance launched Binance Labs to incubate startups and invest in blockchain projects.
Binance Research launched
Binance launched Binance Research to provide professional-grade market analysis and research (Nov 8, 2018 reported; adoption continued 2019).
Introduced Binance USD (BUSD) via Paxos partnership
Paxos launched a Binance-branded stablecoin (BUSD) in partnership with Binance (Sept 9, 2019).
Binance launches fiat and regional initiatives (2019)
Binance launched fiat-to-crypto services in jurisdictions (e.g., Jersey EUR/GBP exchange Jan 16, 2019), Venus Initiative for local stablecoins, and partnerships for local markets.
Launched Binance Smart Chain (later BNB Chain) - smart contract platform
Binance introduced Binance Smart Chain with smart contract functionality to compete with Ethereum (noting April 2019 launch references).
Security breach — 7,000 BTC stolen from hot wallets discovered
On May 7, Binance disclosed a hack that resulted in the loss of ~7,000 BTC from hot wallets; Binance covered losses from its emergency fund.
FinCEN-approved Binance.US registration
FinCEN approved registration steps that enabled Binance.US to operate (reported June 11, 2019).
Launched Binance.US (U.S. affiliate) — opened trading
Binance's U.S. affiliate, Binance.US, opened for trading with a small initial set of cryptocurrencies.
Acquired CoinMarketCap
Binance acquired the cryptocurrency price/tracker CoinMarketCap (announced in 2020).
Launched multiple Binance products/ecosystem growth (2018–2022)
Under Zhao, Binance launched numerous products including Binance DEX, Binance Chain, Binance Pay, NFT marketplace, staking, margin/futures, token launchpad and other services across 2018–2022.
Global regulatory restrictions multiply
Throughout 2021 Binance faced warnings, restrictions, or bans from regulators in the UK, Japan, Italy, Thailand, Netherlands, Cayman Islands, and other jurisdictions.
Bought an apartment in Dubai
Zhao purchased an apartment in Dubai (reported Nov 19–23, 2021) as part of becoming more transparent about residence and establishing presence in UAE.
Public statement: nearly 100% of liquid net worth in crypto
Zhao told Bloomberg Markets that nearly all of his liquid net worth was in cryptocurrency.
DOJ & IRS investigations reported
Bloomberg reported in May 2021 that the U.S. Department of Justice and IRS were investigating Binance for potential money laundering and tax offenses.
Reportedly shared client data with Russian government (2021)
Reports indicate that in 2021 Binance shared client data (names, addresses) with Russian authorities.
UK FCA orders Binance to stop regulated activity in UK
The UK Financial Conduct Authority ordered Binance to cease regulated activity in the UK (June 2021).
Launched $1B accelerator and talent fund
Binance announced a $1 billion accelerator and talent development fund to promote crypto adoption (Oct 12, 2021).
Turkish regulator fines Binance
The Turkish Financial Crimes Investigation Board fined Binance 8 million Turkish lira following inspections (reported Dec 25, 2021).
Acquired outstanding shares of Swipe
Binance said it acquired outstanding shares in crypto Visa card issuer Swipe (Dec 30, 2021).
Public positions & views on crypto adoption
Zhao publicly commented that most users trade crypto to make money rather than use it; he often advocated for pragmatic regulatory engagement.
Donated $10M for Ukraine humanitarian relief
Binance donated $10 million and launched a crowdfunding site to support humanitarian efforts in Ukraine (Feb 27, 2022).
Invested $500M to support Elon Musk's Twitter acquisition (reported)
Public reports indicate Zhao invested $500M through Binance to finance Elon Musk's acquisition of Twitter (2022 reporting).
FTX collapse interaction — Binance considers and withdraws acquisition
In Nov 2022 Binance briefly negotiated to acquire FTX's non-US operations but withdrew after due diligence, accelerating FTX's collapse.
CFTC sues Binance and Zhao (civil complaint)
The U.S. Commodity Futures Trading Commission filed suit alleging willful evasion of U.S. law and derivatives rules (March 27, 2023).
SEC sues Binance and Zhao (13 charges)
U.S. Securities and Exchange Commission sued Binance and Zhao on multiple charges alleging securities law violations (June 5, 2023).
Binance pleads guilty and agrees $4.3B penalties
As part of related prosecutions, Binance agreed to plead guilty and pay $4.3 billion to U.S. authorities.
Replaced as CEO by Richard Teng
Following his guilty plea, Zhao was replaced as Binance CEO by Richard Teng.
Plead guilty to money laundering; resigns as CEO; $50M personal fine
Zhao pleaded guilty to money laundering violations in U.S. federal court, agreed to step down as Binance CEO and pay a $50M fine; Binance agreed to plead guilty and pay $4.3B in fines.
Sentenced to 4 months in U.S. prison
Zhao was sentenced to a four-month prison term after pleading guilty to money laundering-related charges (April 30, 2024).
Released from custody (reported)
U.S. Bureau of Prisons records reported Zhao's release from custody on September 27, 2024.
FTX sues Zhao and Binance seeking ~$1.8B (filed Nov 2024)
FTX's bankruptcy estate filed a lawsuit seeking to recover nearly $1.8B alleging fraudulent transfers involving Binance and Zhao (reported Nov 2024).
Appointed strategic advisor to Pakistan Crypto Council
Zhao was appointed by Pakistan's Ministry of Finance as strategic adviser to the Pakistan Crypto Council to promote crypto and blockchain in Pakistan.
Forbes estimated net worth at $64.8B (May 2025)
Forbes ranked Zhao the 24th-richest person in the world with an estimated net worth of $64.8 billion as of May 2025.
Appointed advisor to the President of Kyrgyzstan
Zhao was appointed as an advisor to Kyrgyzstan's president Sadyr Japarov on development of digital assets (May 3, 2025 reporting).
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