The story of a Chinese man with no fixed abode who became the richest man in four years. Changpeng Zhao, the founder of Binance, accomplished an almost impossible thing.

Speaking of the myths of the currency circle, not only the various types of coins, but also the legends of the currency circle are even more breathtaking.
The protagonist we are talking about today is Binance’s dad: Changpeng Zhao.
The founder of Binance, the top exchange in the currency circle, a man who went from being unknown to becoming the richest man in China in four years! A man with a net worth of up to 500 billion and a top believer in house selling stud! An investor with no fixed abode!
Mr. Zhao Changpeng, whose English name is CZ, is rumored to have been friends with Elon Musk many years ago.
Changpeng Zhao, a person who needs no introduction in the currency circle. In February 2018, "Forbes Magazine" listed him as the "richest man in cryptocurrency." The article in "Forbes" magazine described Zhao Changpeng's "wealth-digging" speed as follows: "In In this craziest wealth-making gold mine last year, speed is the lifeline. Changpeng Zhao, a Chinese programmer, went from establishing the Binance platform to becoming rich in only 6 months."
In May 2018, his net worth exceeded US$1.39 billion.
In December 2021, with a net worth of US$90 billion (approximately 573.3 billion yuan), Changpeng Zhao surpassed Zhong Suisui, chairman of Nongfu Spring, the original number one on the list, to become the richest Chinese, and ranked among the 10 richest people in the world.
In 2022, the price of Bitcoin reached its lowest point since December 2020, and Zhao Changpeng's wealth evaporated by US$85.6 billion overnight.
Just based on these data, you can just say that it is awesome or not.
Binance Changpeng Zhao (CZ)
Founded Binance
In July 2017, he founded Binance, an exchange that opened 11 days after raising $15 million in a public offering. The platform proved almost instantly popular with users.
Binance (English: Binance) is a global cryptocurrency exchange that provides trading services for more than 100 cryptocurrencies, including options, spot, u-based contracts, currency-based contracts and other trading products. Since the beginning of 2018, Binance has been considered the largest cryptocurrency exchange in the world in terms of trading volume
The name of Binance in English "Binance" is based on a portmanteau of the words binary and finance.
Binance’s currency trading service, which started in 2017, can process about 1.4 million orders per second and offers trading in more than 150 cryptocurrencies, including popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin as well as its own BNB Token
Binance was first founded in China, but since September 2017, the Chinese government has banned cryptocurrency transactions, so Binance moved its servers and headquarters to Japan.
In 2018, Binance established an office in Taiwan.
As of January 2018, Binance is the world's largest cryptocurrency exchange, with a market value of its cryptocurrency BNB of US$1.3 billion.
In March 2018, due to the very strict regulation of cryptocurrency in China and Japan, Binance announced that it would establish a new office in Malta.
In April 2018, Binance signed a memorandum of understanding with the government of Bermuda, and a few months later, Binance signed a similar memorandum with the Malta Stock Exchange to develop a cryptocurrency trading platform. Additionally, In order to expand its influence in Europe, Binance plans to move to Jersey and obtain a local exchange license to add trading pairs including the euro and the British pound.
In August 2018, Binance, along with three other large exchanges, raised $32 million for stablecoin projects. The idea of ​​stablecoins is to provide a cryptocurrency that is not subject to the significant volatility of Bitcoin and other digital assets.
On May 27, 2022, Binance announced that it had registered a legal entity in Italy and planned to open an office in the region and expand the local team. CEO Changpeng Zhao also shared information about Binance’s registration with the French market regulator. The company is also registered in more European countries including Switzerland, Sweden, Spain, Netherlands, Portugal and Austria.
According to statistics, as of the end of 2022, Binance has more than 150 million users and a daily transaction volume of tens of billions of dollars, making it the world's largest cryptocurrency exchange.
BNB, the cryptocurrency issued by Binance, is the fourth largest cryptocurrency in the world in terms of market capitalization.
In the field of cryptocurrency, exchanges such as Binance, Huobi, and OKCoin, which were founded by Chinese people, can only be cut off, but Binance is obviously not (the development philosophy of the founder is very important). Cryptocurrency players said, “Competition among global cryptocurrency exchanges is fierce, with high requirements for manpower, customer service, and security. Only Chinese talents can achieve the ultimate in this service industry.
To give a simple example, it is impossible for an exchange founded by a foreigner to provide 24-hour customer service. If there is a problem, we can only send it an email. It may take a week or two for the exchange to deal with the problem. Who is this? I can bear it, but the exchanges opened by the Chinese can respond online 24 hours a day.
A Chinese genius with no fixed abode
Zhao Changpeng’s life history:
Changpeng Zhao, male, Han nationality, CEO of Binance and CEO of Bijie Technology. He once served as the technical director of Bloomberg and later founded Fuxin Information Technology Co., Ltd. He is not only the founder, but also the president of China. Changpeng Zhao also joined OKCoin as the co-founder of Liankendian and served as CTO. He managed OKCoin’s technical team and was responsible for OKCoin’s international marketing team, quickly establishing OKCoin’s international influence.
Born in 1977 in a rural village next to Lianyungang, Jiangsu Province
In 1987, his parents were both educators. His father was a professor in China, but was later labeled a "bourgeois intellectual" and deported. So Zhao Changpeng, who was only 10 years old, immigrated with his parents and his family. Go to Vancouver, Canada and become a Chinese Canadian.
In his teens, Changpeng Zhao worked a series of hard, poorly paid jobs as a McDonald's and gas station employee.
But this boy with extraordinary intelligence and vision eventually stood out, and he later studied at McGill University in Montreal, Canada, specializing in computer science.
In 2001, during college, Zhao Changpeng interned at a financial IT company in Tokyo for a year. After graduation, this company offered him good salary conditions. He also likes Tokyo very much. He worked on the exchange system in Tokyo for 4 years.
After college, Changpeng Zhao spent time in Tokyo and New York, where he built a system to merge commercial orders with the Tokyo Stock Exchange and then with Bloomberg's Tradebook, where He developed futures trading software.
During this time, the 25-year-old programmer was promoted three times in less than two years, and after managing teams in New Jersey, London and Tokyo, Changpeng Zhao became impatient.
So in 2005, he stopped those jobs, moved to Shanghai, and founded his own company, Sistem Fusion, which is best known for building systems for high-frequency trading.
In 2013, Changpeng Zhao heard about BTC through his good friend Bobby Lee, the former BTCC and BTC China co-founder and CEO.
So I started to get in touch with the blockchain. Bobby LEE once said this to CZ. If you invest 10% of your net assets in BTC, as long as it rises 10 times, your wealth will double and you will suffer a loss. You will only lose 10% of your assets. Because of this sentence, CZ has a great interest in the blockchain.
Then CZ began to be involved in blockchain projects and joined http://Blockchain.info as the third founding employee. During the 8 months of working there, he had frequent contact with BTC evangelists Roger Ver and Ben Reeves. And under the influence of some industry giants, his confidence has been strengthened.
After accidentally learning about Bitcoin, I started investing heavily, and later entered the blockchain industry. I once served as the technical director of Blockchain.info, and also joined OKCoin as a co-founder and became the CTO.
He joined Blockchain.info as the third member of the cryptocurrency wallet team as a development lead for 8 months, working alongside renowned Bitcoin evangelists Roger Ver and Ben Working closely with Ben Reeves.
It was not until June 2014 that he became the CTO of OKcoin at the invitation of He Yi (known as the first sister in the currency circle, now the co-founder and CMO of Binance). At this time, CZ sold his house in Shanghai and moved his All the funds were invested in BTC, and he had no other assets except his mobile phone. Therefore, he was considered by Crypto believers to be the first person to hold 99% of his assets in Crypto.
As a result, in less than a year, Shanghai housing prices doubled, but BTC plummeted. Faced with huge financial losses, he did not choose to give up. While working at OKcoin, CZ mastered the logic of the operation of Crypto exchanges and the entire industry. Later, due to differences in culture and values ​​between the two parties, conflicts arose, so Zhao Changpeng chose to resign.
He had a conflict with OKcoin founder Xu Mingxing, so he left OKcoin (most likely Xu Mingxing liked to cut leeks)
turning point in life
In 2017, he founded Bi An. Although it was not too early to enter the game, Binance has now become the number one exchange in the list of digital currency exchanges. CZ has embarked on the road to billions of wealth.
After leaving OK Coin, Zhao Changpeng saw the boom in the cultural goods trading industry and founded Bijie Technology, which is responsible for providing trading systems for coins, stamps, phone cards and other collectibles.
Although the company was doing well, he still wanted to have an exchange of his own, so in June 2017, he chose to found Binance and launched his own blockchain currency-Binance Coin. , and has since embarked on the road to billions of wealth.
Compared with other Crypto, Binance mainly wants to aggregate high-quality blockchain assets around the world to provide users with more convenient and safer services.
Binance provides ordinary people with a trading platform with extremely low investment thresholds. In less than 10 days, the initial issuance brought $15 million in financing to Binance. In less than a year, it has attracted the attention of Black Hole Capital (revealing the secrets of this mysterious and low-key Black Hole Capital, investing in B'an, and obtaining over 4360 times the income), Fancheng Capital, Sequoia Capital, and IDG Capital, all of whom want to invest in B'an. It provides financing.
As the price of BTC soared from September to December 2017, with the price rising from US$3,000 to US$20,000, an astonishing increase, people began to rush to enter Crypto exchanges.
During the bull market, Crypto’s trading volume broke all records. At its peak, the daily trading volume of all exchanges and Crypto in the world reached US$60 billion, and Binance accounted for one-sixth, reaching US$10 billion.
In the currency circle, where there is Binance, there must be something special. This chief customer service officer has been active on the front line of work. Binance can have today’s market share and ecological environment, and most of the credit goes to this person.” "The first sister in the currency circle"
He Yi was born in Sichuan on October 14, 1986. His parents are both teachers. She just celebrated her 36th birthday and is currently the co-founder of Binance and chief user service officer; the right-hand man of CZ, Changpeng Zhao. Conservative estimates suggest that his current net worth exceeds 10 billion yuan.
First turn around: from working girl to university teacher
Before the age of 20, He Yi was not much different from other girls of the same age, and his experience could be said to be very ordinary. When I was 16 years old, I worked as a beverage promoter and my monthly salary was less than 1,000 yuan; when I was 18 years old, I worked as a store manager in a bedding store for two months.
In 2006, 20-year-old He Yi came to Beijing to study as a postgraduate student majoring in psychological counseling at the Institute of Psychology, Chinese Academy of Sciences. In 2007, 21-year-old He Yi entered the stock market and caught up with the bull market. After making some money, he chose to give up the idea of ​​becoming a psychological counselor. He graduated from the Chinese Academy of Sciences and became a class teacher at a university after being introduced by a friend.
Second turn: to become a host
In 2012, when He Yi was 26 years old, a friend who was a director suggested that she try to be a host. Relying on his good looks, strong communication skills and psychology background, He Yi became the location host of Travel TV's "Beautiful Destination" and "How Far" and followed the program crew all over the world. The north and south of the motherland. After leaving Tourism TV, He Yi came to Beijing TV to be the host of "Beijing New Discovery".
The third turn: joining the currency circle and then becoming the vice president of a technology company
In 2014, OKcoin investor Mai Gang and OKcoin founder Xu Mingxing formed a game together. It was at this wine game that He Yi met Xu Mingxing; this wine game also became a part of her life. The biggest turning point.
The second week after the wine game, Xu Mingxing invited He Yi to join, offered an annual salary of 400,000, and offered the position of OKcoin’s vice president. From then on, her journey in the currency circle began.
During his time at OKcoin, He Yi was responsible for brand building and marketing. In addition to helping OKcoin become a first-tier exchange, He Yi also recruited the technical master Changpeng Zhao to serve as CTO at OKcoin.
In May 2015, when Changpeng Zhao left OKCoin, He Yi also left with him.
On August 8, 2017, He Yi published an open letter on social media, announcing that he and his old friend Changpeng Zhao had once again founded the virtual currency trading platform Binance and served as CMO, co-founder and director.
He Yi conquered half of Binance’s fortunes. He Yibo’s experience in operating Yibo and OKCoin seamlessly connect to Binance.
He Yi frequently uses live broadcasts to promote projects and frequently gives away luxury cars. The support of various discounts such as high commissions + luxury cars + forked coins has also brought huge benefits to Binance: after surpassing the single-day trading volume of US$3 billion on December 18, 2017, on January 10, 2018 It exceeded US$10 billion.
CZ character events
According to news on the afternoon of April 25, 2018, a legal dispute has arisen between Changpeng Zhao, the founder of the world’s largest cryptocurrency exchange, and a division of Sequoia Capital. According to Hong Kong court documents from March 26 and April 24, Sequoia sued Changpeng Zhao over a failed financing transaction. The documents reveal Changpeng Zhao’s interactions with prominent venture capital firms and reveal details of their assessment of Binance’s valuation.
On December 14, 2017, Changpeng Zhao’s team told Sequoia that Binance’s existing shareholders believed the deal they offered undervalued the exchange.
Almost at the same time, another venture capital company IDG Capital found Changpeng Zhao and expressed its willingness to invest two rounds of funds in Binance. The estimated value was as high as US$400 million and US$1 billion respectively.
The question here is whether Changpeng Zhao’s communication with IDG Capital violated his exclusive agreement with Sequoia. Although Sequoia and Changpeng Zhao were planning to resolve the dispute through arbitration, the dispute between the two parties gradually came into public view after Sequoia appealed to the Hong Kong High Court and successfully banned Changpeng Zhao from contact with other investors.
The court stated on April 24, 2018 that further hearings were needed to determine whether Zhao Changpeng was at fault.
On March 8, 2020, Binance Changpeng Zhao secretly misappropriated user funds to participate in Steem voting. Tweeting about Binance’s participation in the Steem vote and apologizing went viral.
He said: "I didn't want to get involved in this incident, but it seems I can't stay out of it.
Under the mistaken belief that this was an ordinary upgrade/fork, I approved Binance's participation in the vote. I'm deeply sorry for this. "
Where is this billionaire now?
Some media reported that Binance’s competitors had hired private detectives to find Changpeng Zhao’s whereabouts, but the private detective team “had made great efforts to track Changpeng Zhao but failed. He suspected that Binance had hired other people.” To cover up Zhao Changpeng’s whereabouts and make him almost impossible to detect.”
This narrative is full of the color of a spy movie, so much so that when I asked people familiar with the matter where CZ was, I was fully expecting to get a bizarre answer. As a result, the person familiar with the matter said, "He is in France, Dubai, and Singapore." Take your turn.”
This seems to be a metaphor for his identity. He was born in China and grew up in Canada. He went to university in French-speaking Montreal. After dropping out, he worked as a summer intern at the Tokyo Stock Exchange and then became a full-time employee. He then moved to New York to work for Bloomberg Trading Company and later returned to China. Start a business in Shanghai. After entering the cryptocurrency industry by chance, his life gradually became "crazy". After cryptocurrency was severely cracked down, he took He Yihe and his team to Tokyo, then to Malta, and then to Singapore. After Singapore, he went to Vietnam has traveled to countries and regions around the world except the United States and China.
The Binance market is currently spread all over the world, with Binance employees in Paris, Dubai, London, Lisbon, Amsterdam, Berlin, Taipei, Hong Kong, and even the United States, Canada, and some countries in Africa and Asia. Changpeng Zhao said that Binance operates in a "decentralized" manner and does not have a physical headquarters.
CZ was born for encryption. With his promotion, the encryption industry is developing for the better step by step, building the industry and protecting users. I’ll end it here. Thumbs up to Binance Dad.
Note: All the above data are obtained from public information on the Internet. If there is any untruth, please contact us and deal with it.