10 interesting facts about Changpeng Zhao (CZ, Binance CEO)

Last updated on March 7th, 2023 at 11:58 am

Introduction

Changpeng Zhao, also known as “CZ,” is the founder and CEO of Binance. One of the world’s largest and most popular cryptocurrency exchanges.  It is headquartered in Malta and has offices in multiple countries around the world.

Binance is known for its fast transaction processing and low fees, making it a popular choice for traders and investors.

One of the key reasons for Binance’s success has been its ability to quickly adapt to the changing needs of the market. This has allowed it to remain competitive in an industry that is known for its rapid pace of innovation.

In addition to its core exchange business, Binance also offers a range of other services. It’s other services include:

• A centralized exchange (CEX).
• A platform for initial coin offerings (ICOs).
• And a variety of educational resources for those new to the world of cryptocurrency.
  
  Under CZ’s leadership, Binance has grown to become one of the most influential companies in the cryptocurrency industry. CZ, in addition to his role at Binance, is also a well-known figure in the broader technology community. He frequently speaks at conferences and events around the world.

1. Changpeng Zhao’s childhood was a bit of a struggle

Despite his success, CZ’s childhood was far from easy. Born in Jiangsu, China, CZ, and his family faced financial struggles. Despite the challenges they faced, CZ’s mother instilled in him the importance of hard work and determination.

CZ took on various jobs as a teenager to help support his family, including working as a dishwasher and a gas station attendant. Despite his busy schedule, he excelled in school and graduated at the top of his class. He earned a scholarship to attend McGill University in Montreal.

After graduating from McGill, CZ worked in various industries, including finance and technology. Despite his challenging childhood, CZ never gave up and continued to work hard to achieve his goals. His determination and perseverance have paid off, making him a true inspiration to others who may be facing their own struggles.

2. Changpeng Zhao got to fame in just 180 days

In just 180 days, CZ went from relative obscurity to becoming a major figure in the world of cryptocurrency.

Born in China, CZ moved to Canada with his family at a young age. He studied computer science at McGill University in Montreal and later worked for various tech companies, including Bloomberg Tradebook and Yokohama Bank.

In 2013, Changpeng Zhao became interested in the world of cryptocurrency and decided to get involved. He founded Binance in July 2017, and within just six months, the exchange had become one of the top cryptocurrency exchanges in the world.

CZ’s success can be attributed to a number of factors:

First and foremost, he has a deep understanding of both technology and finance, which has allowed him to create a highly functional and user-friendly exchange.

Additionally, CZ has been incredibly responsive to user feedback, constantly improving and updating the Binance platform.

Furthermore, Changpeng Zhao has a strong vision for the future of cryptocurrency and has been able to effectively communicate this vision to both users and the broader crypto community. This has helped to build a strong sense of trust and loyalty among Binance users.

CZ’s hard work and dedication have helped to turn Binance into a major player in the world of cryptocurrency in just 180 days. His success serves as an inspiration to entrepreneurs and crypto enthusiasts alike. It demonstrates the potential of this exciting and rapidly-evolving industry.

3. Changpeng Zhao Networth (CZ Networth)

CZ has a fascinating background, having started his career in the finance industry before moving into the world of cryptocurrencies. He was the founding member of Blockchain.info and also worked at OKCoin, one of the first bitcoin exchanges.

Changpeng Zhao networth is approximately $17.4 Billion at present. Since his major chunk of investment is in cryptocurrencies frontrunning with Binance Holdings it is presently on the lower side.

However, once the cryptocurrency bull run restarts it will achieve a higher benchmark. His highest recorded net worth was $65 Billion in 2022.

In addition to his work at Binance, CZ is also a successful investor and has made several high-profile investments in the crypto space. He is a board member of the Bitcoin Foundation and a member of the advisory board of the Blockchain Research Institute.

4. Changpeng Zhao got interested in bitcoin due to Poker

Born in China, CZ moved to Canada at a young age and grew up in the city of Montreal. He developed a passion for the game of poker and played professionally for several years. However, the unpredictable nature of the game and the need to constantly seek out new opponents to play against eventually led CZ to look for other opportunities.

It was during this time that CZ first became interested in bitcoin. He was drawn to the decentralised and global nature of the cryptocurrency, as well as its potential to revolutionise the financial industry. CZ began to study the technology behind bitcoin and quickly became an expert in the field.

In 2017, CZ founded Binance with the goal of creating a platform that would make it easy for people to buy, sell, and trade cryptocurrencies. The exchange quickly gained popularity among users. And the rest is history.

5. Interestingly, CZ gives cars away as prized but isn’t interested in them himself

CZ, the founder & CEO of Binance, announced in the past that he is not interested in cars. However, he is giving away a Lamborghini as part of a promotion for the Binance platform.

In a tweet, he explained that the giveaway is a way to celebrate the success of Binance and a give back to the community.

While CZ may not be a car enthusiast himself, the Lamborghini giveaway has generated a lot of excitement among Binance users. Many see it as a unique opportunity to win a luxury car, and some are even speculating about which model of Lamborghini will be given away.

Overall, the Lamborghini giveaway is just one example of the many promotions and initiatives that Binance has undertaken to engage its users and build its community.

6. All Eggs in one Basket.

After his initial interest in Bitcoin, one of his major unintention step towards cryptocurrencies was mining Bitcoin. And eventually he co-founded OKCoin, one of China’s first bitcoin exchanges.

However, due to the Chinese government’s crackdown on cryptocurrency, CZ and his team were forced to shut down OKCoin and move their operations overseas.

This led to the creation of Binance in 2017. The exchange quickly became one of the most popular platforms for trading cryptocurrency, and CZ became known as one of the industry’s most influential figures.

Despite his success in the crypto market, CZ has never diversified his investments. He has consistently maintained that he only trusts the crypto market.

He believes that it has the potential to revolutionize the global financial system. In an interview with Forbes, CZ stated, “I think bitcoin and blockchain technology will change the world more than people imagine. I don’t think there’s any other asset class that has the potential to do that.”

CZ’s commitment to the crypto market has not wavered, even in the face of the industry’s volatility. He has remained a vocal advocate for cryptocurrency. CZ has consistently urged people to educate themselves about the technology and its potential.

Changpeng Zhao’s success in the world of cryptocurrency. It can be attributed to his unwavering belief in the potential of the crypto market. Despite the risks and volatility, CZ has only ever invested in one basket: the world of cryptocurrency.

7. Changpeng Zhao is a Warren buffet follower

CZ has often cited the philanthropic behavior of Warren Buffett as one of his major influences. In fact, CZ behaves like a “Warren Buffett of crypto,” due to his focus on long-term value and his aversion to making rash, short-term decisions.

Like Buffett, CZ has a long-term outlook and believes in the potential of cryptocurrencies to disrupt traditional financial systems.

However, CZ’s approach to investing in cryptocurrencies differs from Buffett’s approach to investing in stocks. While Buffett is known for his value investing strategy, CZ takes a more holistic approach to investing in crypto.

CZ considers factors such as the technology behind a particular cryptocurrency, its potential for adoption, and the strength of its development team.

Despite their differences, CZ and Buffett share a number of key principles, including a focus on long-term value and a commitment to careful, thoughtful decision-making.

These principles have helped both CZ and Buffett achieve tremendous success in their respective fields, and they continue to serve as an inspiration to investors around the world.

8. Besides Binance Exchange, he only Owns 2 Cryptos

Despite being at the helm of a major player in the crypto world, it may come as a surprise to some that CZ only owns two cryptocurrencies: Bitcoin and Binance Coin.

CZ’s love for Bitcoin can be traced back to his early days in the crypto industry. In 2013, he became interested in Bitcoin and began to learn more about the technology behind it.

He quickly became convinced of its potential and decided to get involved. In 2014, he founded Binance and began building the platform into the powerhouse it is today.

Despite the success of Binance, CZ remains true to his roots and remains a firm believer in the potential of Bitcoin. In fact, he has often stated that he is a “Bitcoin maximalist,” meaning that he believes that Bitcoin is the most important and valuable cryptocurrency. As such, it is no surprise that he holds a significant amount of cryptocurrency.

In addition to Bitcoin, CZ also owns Binance Coin (BNB), the native token of the Binance platform. BNB has become a popular choice for traders and investors, as it can be used to pay fees on the Binance platform, providing a discount compared to using other cryptocurrencies. As the founder and CEO of Binance, it makes sense that CZ would own a significant amount of BNB.

9. CZ is a Degen

Changpeng Zhao is a prominent figure in the cryptocurrency industry.  CZ has a reputation as a “degen” or degenerate gambler in the crypto community. This is due in part to his high-risk, high-reward approach to business.

For example, he once famously sold all of his possessions, including his house, to invest in cryptocurrency. This bold move paid off, as Binance has since become a major player in the industry.

However, CZ’s risk-taking has also led to controversy. In 2019, Binance was hacked and lost 7,000 Bitcoin, worth over $40 million at the time. CZ faced criticism for his handling of the situation, but ultimately the exchange was able to reimburse its users and continue operating.

Despite the controversy, CZ remains a respected figure in the crypto world. He is known for his strong leadership and his ability to make strategic business decisions. Under his guidance, Binance has continued to grow and expand, offering a wide range of services to its users.

10. Worked on Another Trading System before Founding Binance

Before founding Binance, CZ had a long and successful career in the finance and technology industries.

In 2005, CZ founded Fusion Systems, a high-frequency trading firm that used advanced algorithms to trade on the stock and futures markets. The company was a pioneer in the use of low-latency technology, which allows for fast and efficient trading. Fusion Systems was a success and helped CZ gain valuable experience in the world of finance and technology.

In 2017, CZ founded Binance, which quickly became one of the world’s largest cryptocurrency exchanges.

The platform offers users a simple and intuitive interface for buying and selling a wide range of cryptocurrencies. Binance has become known for its low fees and high liquidity, making it a popular choice among traders and investors.

Overall, CZ’s experience at Fusion Systems and his expertise in finance and technology have been instrumental in the success of Binance. His work has helped to shape the growing cryptocurrency industry and has made him a well-known and respected figure in the world of finance.

Conclusion

In addition to his work with Binance, CZ is also an active participant in the wider crypto community. He is a regular speaker at industry conferences and events, and is known for his candid and straightforward approach to discussing the challenges and opportunities facing the crypto industry.

His leadership and vision have helped to make Binance one of the most successful exchanges in the world, and he continues to be a driving force in the world of cryptocurrency.