Changpeng Zhao, widely known as CZ, is a Chinese-born Canadian businessman, co-founder, and former CEO of Binance. As the co-founder of what many consider to be the best crypto exchange in the world by trading volume as of July 2024, Changpeng Zao’s net worth has skyrocketed over the years, making him one of the richest crypto investors. As of 2025, his net worth is estimated at $65.3 billion.
This article explores Changpeng Zao’s life, the rise of Binance, and the regulatory issues that shaped his career in cryptocurrency.
Changpeng Zhao bio
| Full Name | Changpeng CZ Zhao |
|---|---|
| Known As | CZ |
| Profession | Founder and former CEO of Binance |
| Net Worth | $65.3 billion as of 2025 |
| Education | McGill University, Canada |
| Notable Achievements | Establishing Binance as the largest cryptocurrency exchange |
Early life and career
Changpeng Zhao was born on February 5, 1977, in Lianyungang in China’s Jiangsu province. Both his parents were school teachers. His father was a university instructor before being branded a pro-bourgeois intellect and exiled to rural China shortly after Zhao was born. At 12, CZ and his family immigrated to Canada for better opportunities and settled in Vancouver, British Columbia.
Zhao quickly adapted to the new environment and began showing interest in tech and problem-solving. During his teenage years, he helped support the family by holding down different service jobs, including working as a clerk at McDonald’s and gas stations.
Zhao attended McGill University in Quebec, pursuing a degree in computer science. After graduating, he began his career by working as a trading systems developer for established financial and tech companies, including Bloomberg Tradebook. His tenure at Bloomberg was particularly formative and gave him insights into the complexities of financial markets.
He also worked at Fusion Systems, a company he founded in Shanghai that specialized in creating high-frequency trading systems. These positions sharpened his technical skills and laid the groundwork for his future ventures in the crypto space.
The move into cryptocurrency
Changpeng Zhao’s journey into cryptocurrency began in 2013 when he heard about Bitcoin while playing poker with a friend, Bobby Lee, brother to Charlie Lee, the creator of Litecoin. Zhao was amused by the concept and sold his house to invest in Bitcoin. His commitment to the crypto world deepened when he joined Blockchain.info as head of development. Blockchain.info is a leading crypto wallet provider. This position exposed him to leading figures in the cryptocurrency industry, garnering invaluable experience and insights.
Rise to prominence as Binance CEO
In 2017, CZ partnered with other seasoned developers and crypto enthusiasts to create Binance. Launching Binance’s initial coin offering marked a turning point in Changpeng Zhao’s career. Within a few months, Binance became a major player in the cryptocurrency exchange market.
Its user-friendly interface, wide range of assets, and low trading fees are Binance’s major selling points and these have helped to position it as a popular alternative to Coinbase and other leading exchanges.
Under his leadership, Binance revolutionized the cryptocurrency trading experience by focusing on user accessibility and security. The platform could handle high-trading volumes efficiently, further cementing its reputation.
Six months after its launch, Binance became the largest crypto exchange platform globally, underscoring CZ’s strategic vision and innovative approach. Binance’s rapid growth elevated Changpeng Zhao’s status as a prominent industry leader, earning him global recognition.
Binance and crypto exchange dominance
Binance’s dominance of the crypto exchange market is unrivaled. It is the world’s largest cryptocurrency exchange in terms of trading volume, facilitating transactions worth billions of dollars daily.
Its robust infrastructure and wide range of services have attracted retail investors monitoring upcoming Binance listings and institutional organizations keen on trading.
The platform offers an extensive range of assets, including Bitcoin, Ethereum, and Binance Coin, Binance’s native token.
Binance Holdings, the crypto exchange’s parent company, offers services globally, including futures, spot trading, staking, and DeFi products. This diversification has cemented Binance’s position as a market leader.
Furthermore, Binance Coin has grown to become the cornerstone of Binance’s ecosystem, with benefits such as reduced trading fees and access to exclusive features. The massive success of Binance and native tokens has dramatically contributed to Changpeng Zhao’s personal net worth growth, making him one of the wealthiest people in the world.
Binance Coin: A key to CZ’s wealth
Binance Coin (BNB) was launched alongside Binance’s initial coin offering (ICO) in 2017 and has played a pivotal role in Binance’s success. The coin was initially created as a utility token and allows users to pay transactions at discounted rates.
Over the years, Binance Coin has expanded to include payments, travel bookings, and participation in token sales of Binance Launchpad. Binance coin casinos – online casinos that accept BNB deposits and withdrawas – are also increasingly popular.
The consistent growth of BNB has greatly bolstered Zhao’s net financial portfolio.
Changpeng Zhao’s net worth
The rapid rise of Binance has placed Changpeng Zhao among the world’s ultra-rich. According to the Forbes Billionaire Index, his net worth is estimated at $63.9 billion as of 2025. Much of his wealth is attributed to his stake and holdings in Binance and the valuation of BNB. Despite the inherent volatility of the crypto market, Zhao has maintained his place among the world’s wealthiest people.
His massive wealth has also earned him recognition beyond the crypto industry. His financial success is a testament to his strategic vision and unique ability to navigate the rapidly evolving digital currency landscape. However, his fortune has seen its fair share of troubles, particularly the regulatory issues that culminated in his resignation as Binance CEO.
Regulatory scrutiny and investigations
As Binance expanded into a massive global platform, it attracted the attention of regulatory bodies from across the globe. Agencies like the United States Securities and Exchange Commission and the Commodity Futures Trading Commission began scrutinizing Binance’s operations. As a result, the platform was accused of money laundering, sanction violations, and inadequate compliance with anti-money laundering laws.
The regulatory scrutiny pointed out weaknesses in Binance’s compliance infrastructure, prompting federal investigations into its practices. These investigations raised concerns about Binance’s ability to meet international regulatory standards, which heightened scrutiny of Binance operations worldwide.
As a result of this scrutiny, Binance was banned from operating in the UK as of October 2023.
Impact of regulatory issues on CZ’s net worth
The regulatory issues faced by Binance have significantly impacted Changpeng Zhao’s wealth. Accusations of money laundering and sanction violations caused a temporary decline in Binance’s user trust and trading volume. In addition, the SEC and CFTC investigations raised uncertainties around the future of the platform, further affecting its market confidence.
However, Changpeng Zhao’s net worth has remained substantial despite these issues. He has remained resilient and successfully addressed the regulatory concerns, which was critical in maintaining Binance’s dominance of the crypto exchange market. The platform introduced enhanced compliance measures and formed internal audit committees to restore the platform’s confidence, trust, and sustainability.
Key regulatory milestones
Binance’s journey to becoming the largest cryptocurrency exchange in the world has been marked by several key regulatory milestones that have formed its trajectory.
- Enhanced anti-money laundering measures: Binance put in place stricter AML protocols to align with global standards.
- Formation of internal audit committees: The platform brought in independent members to heighten oversight and governance.
- Collaboration with regulators: During the investigations, Binance collaborated to fix regulatory gaps and enhance transparency.
- CZ’s resignation: In response to mounting pressure from regulatory bodies, Changpeng Zhao stepped down as Binance CEO to allow a leadership transition to navigate the regulatory issues more effectively.
CZ’s response to regulatory issues
Throughout the regulatory investigations, Changpeng Zhao adopted a transparent approach, actively working with the regulatory authorities to address the gaps in the platform. He publicly acknowledged the challenges, pleaded guilty to the allegations, and was willing to collaborate with regulators globally. Under his guidance, Binance introduced new measures such as Know Your Customer (KYC) policies and partnered with law enforcement agencies to combat illegal activities.
His public statements emphasized Binance’s willingness and commitment to compliance and its vision for creating a secure and inclusive crypto ecosystem. His leadership during the regulatory scrutiny highlighted his dedication to ensuring Binance’s long-term success.
The future of Binance and CZ
As Binance adapts to evolving regulatory laws, its future remains bright. While Zhao’s resignation as chief executive officer marked the end of an era, he left an indelible impact on the crypto industry. The continued expansion of the platform to new markets and innovations in blockchain technology is expected to maintain Binance’s position as the largest crypto exchange in the world.
Meanwhile, Changpeng Zhao’s journey is a testament to resilience, strategic vision, and the transformative potential of cryptocurrency.
