Changpeng Zhao (CZ), the founder of Binance wants to conquer the world

Changpeng Zhao called by his diminutive CZ is the founder of Binance. Created in 2017 only, it became the first crypto trading platform a year after it was put online. Only one year. A formidable growth in a highly competitive market. Today, it is a giant among giants in the crypto sector.

Changpeng Zhao is of Chinese origin and it is in China that the platform began its first steps. Very quickly, the platform – strong on its local success – opened up internationally.

According to Bloomberg Billionaires Index, CZ was ranked the 36th richest man in the world. His net worth in dollars was estimated at $77,3 billion as of April 2022. Zhao also told Bloomberg Markets that he has nearly 100% of his liquid net worth in the form of cryptos. Which cryptos? Apparently (according to his Twitter profile) he would hold #BNB Faucet (the native crypto of Binance) and #BTC.

CZ is now 44 years old and Forbes has listed him as the richest man in cryptocurrency.

This is Changpeng Zhao’s journey.

Presentation by Changpeng Zhao

Changpeng Zhao was born on September 10, 1977 and was born in Jiangsu, China. His family moved to Canada when he was 12 years old. The family settled in Vancouver. He therefore has dual Chinese-Canadian nationality.

His parents were teachers in China. His father, a university professor, moved to a rural area shortly after CZ's birth.

Upon arriving in Vancouver, the parents were unable to find a stable financial situation, due to their status as Chinese emigrants.

As a teenager, CZ helped his family by doing many odd McDonald's-type jobs. His journey is then even more inspiring, isn't it?

Studies and first professional experiences

Then, CZ continued his studies in Zhao attended McGill University in Montreal, Quebec. He studied and graduated in computer science.

He did his first internship in Tokyo, Japan, in a company linked to the Tokyo Stock Exchange. For his first internship, he helped develop software to match traders' orders on the same platform.

After his internship, he worked for 4 years at Bloomberg Tradebook where he was a trading software developer.

At that time, in 2005, he left his job to move to Shanghai. It was there that he decided to create his first business and it was there that he began his career as an entrepreneur.

An entrepreneurial career in China

It was therefore in China that he founded his first company Fusion Systems. This was a high frequency trading system. In 2005, it was still the beginning of this type of automated trading.

However, he leaves his company. We could not find more specific information on Fusion System.

Still, from 2013, CZ turned to cryptographic companies.

Among his professional experiences, we can cite his work within Blockchain.info. He left the company and was (for a while) the technical director of the exchange platformOKCoin. (Very interesting platform by the way that we really appreciate).

He learns within OKCoin the knowledge useful for what his work will be within Binance.

He will not work in these companies for more than a year in the end. In 2014, he decided to sell his apartment in Shanghai. He recovered more than $1 million from this sale. On Twitter, he often talks about his minimalist lifestyle.

He decides to reinvest everything to create a new business directly linked to cryptocurrencies.

His first crypto companies

In September 2015, Changpeng Zhao established a first exchange development company called BijieTech. The company provides cloud-based trading technology for exchange platforms.

For 2 years, he refined his business and decided to see things differently. He then decided in July 2017 to leave his position at BijieTech to create Binance. He brings back developers and engineers from his former company to form the basis of his Binance employees.

To finance the exchange platform, CZ launched an ICO in which he was able to raise 15 million dollars. 10 days later, Binance was already up and running.

It only took 8 months for Binance become the largest cryptocurrency platform in the world, in terms of transaction volume.

A dazzling success for Binance

So yes, the Binance platform is very complete and pleasant to use. It was also the trading platform that listed the most tokens and the fastest. We can also mention the " launchpool » as well as the “launchpad” to invest upstream in projects.

However, becoming the first platform in less than a year... This remains an achievement. Clearly.

What contributed to the growing success of Binance was undoubtedly the launch of Binance SmartChain (BSC).

Quite honestly, like it or not, it has really transformed the DeFi scene. At the time of the launch of BSC, remember that there was only the ethereum network. The latter was often congested and above all, the gas costs on the network were so high that most users could no longer use it.

In fact, when Zhao launched BSC, it was a real breath of fresh air. A new opportunity for small exchanges to finally participate in DeFi.

Even more, it gave other people ideas and other networks appeared following the launch of BSC.

To conclude, we can say that Binance’s success is deserved. We can even say that Zhao helped make DeFi more popular among a wider audience. And that is remarkable.

Changpeng Zhao's future in France?

Today, Binance is seeking financial accreditation in France. In November 2021, Changpeng Zhao went to Bercy to find a new headquarters. Binance needs to create new subsidiaries around the world to establish its expansion. It is the same ambition displayed by Sam-Bankman Fried, the founder of FTX, one of Cz's many competitors.

Even if in absolute terms, CZ would like to have a transnational company, cryptocurrencies are regulated differently from one country to another. You must then settle in as many countries as possible if you want to keep first place.

Of course, French actors do not view its possible installation in France favorably. We also know that recently, Binance received accreditation for a new installation in the United Arab Emirates, Dubai, paradise for crypto-millionaires.

Changpeng Zhao has said he intends to give 90 to 99 percent of his wealth to charity, following in the footsteps of billionaires like Bill Gates. We can also note that he refused to block the accounts of Russians who use the platform. For him, this escapes the fundamental freedom of cryptocurrencies.

🤌 Read our articles on the subject:

• Binance Launchpool : Tutorial for earning “new” tokens.
• How to use Binance Liquid Swap?
• How to make money with Binance (Tutorial).
• Binance is going through a difficult period but continues to progress

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Note: No financial advice is given in this or any other article on zonebitcoin. This is information of which you are the sole judge and master. Be responsible with your investments and only invest as much as you are willing to lose.

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