Changpeng Zhao

Changpeng Zhao
Zhao in 2022
Born	1977 (age 48–49) Lianyungang, Jiangsu, China[1]
Other names	CZ
Citizenship	Canada United Arab Emirates
Alma mater	McGill University (BSc)
Occupations	Businessman Investor Software engineer Advisor to the President of the Kyrgyz Republic
Known for	Co-founder and former CEO of Binance CTO of OKCoin Co-founder of Blockchain.com
Spouse	Yang Weiqing (m. 2003–2005)
Partner	Yi He (2014–present)
Children	5
Name in Chinese
Traditional Chinese	趙長鵬
Simplified Chinese	赵长鹏
Transcriptions

Changpeng Zhao (Chinese: 赵长鹏; pinyin: Zhào Chángpéng; born 1977), known as CZ, is a Chinese-Canadian entrepreneur and coder, founder and former CEO of Binance, noted for cryptocurrency innovation, high-frequency trading expertise, and regulatory settlements.

He resigned as CEO of Binance in November 2023 following allegations by the U.S. Department of Justice that he had violated the Bank Secrecy Act and the International Emergency Economic Powers Act. He was sentenced to four months in prison in April 2024 and completed his sentence later that year. Despite this setback, Zhao remains a prominent figure in global finance and is among the world’s wealthiest Canadians.

In October 2025, U.S. President Donald Trump pardoned Binance founder Changpeng Zhao following his money-laundering conviction, continuing a pattern of pardons for cryptocurrency executives and restoring Zhao’s standing in the crypto industry. The pardon was granted amid reported business relationships between Binance and World Liberty Financial, a cryptocurrency firm owned by the Trump family.

As of January 2026, Changpeng Zhao has an estimated net worth of US$78.8 billion, ranking him 23rd globally, largely derived from his ownership stake in Binance and holdings of BNB tokens, as per Forbes.

¹ Forbes, “Profile: Changpeng Zhao”, Achieved, Retrieved January 2026

² US Department of Justice, “ForeBinance and CEO Plead Guilty to Federal Charges in $4B Resolution ”, Achieved, Retrieved November 2023

³ Times of India, “Who is Changpeng Zhao? Convicted Binance founder and McGill graduate pardoned by Donald Trump”, Achieved, Retrieved October 2025

⁴ AL Jazeera, “Trump pardons Binance cryptocurrency founder Changpeng Zhao”, Achieved, Retrieved October 2025

⁵ BBC, “Trump pardons Binance founder Changpeng Zhao”, Achieved, Retrieved October 2025

⁶ Forbes, “Profile: Changpeng Zhao”, Achieved, Retrieved January 2026

Early life and education

Changpeng Zhao was born on February 5, 1977, in Jiangsu, China, into a family of educators. His father worked as a university professor, while his mother was a schoolteacher. During the late 1980s, the family emigrated to Canada amid broader political and economic uncertainty in China.

Zhao was raised in Vancouver, where he developed an early interest in computers and technology. He was introduced to programming as a teenager after acquiring his first personal computer, a 286 DOS-based system. His aptitude for mathematics and problem-solving later influenced his decision to pursue a technical career.

He studied computer science at McGill University in Montreal. While completing his education, Zhao supported himself through various part-time jobs, including work in the service industry. He later transitioned into the financial technology sector, laying the groundwork for his future ventures in cryptocurrency and trading systems.

Changpeng Zhao’s career

After returning to China in 2005, Changpeng Zhao worked on several technology startups, gaining experience across software development and entrepreneurial ventures. During this period, he explored multiple industries before becoming involved in cryptocurrency and blockchain-based financial systems.

In 2017, Zhao founded Binance, a cryptocurrency exchange platform. Shortly after its launch, Chinese authorities prohibited domestic cryptocurrency exchanges, prompting Zhao to relocate operations outside China. Despite the regulatory shift, Binance expanded rapidly on a global scale.

By 2021, during a period of heightened cryptocurrency market activity, Binance had become the world’s largest digital asset exchange by trading volume. The company reported handling trillions of dollars in transactions annually, reflecting its significant influence within the global crypto ecosystem. Binance’s growth has been accompanied by regulatory scrutiny and operational challenges. These included a 2019 security breach, after which users were fully reimbursed, and increased oversight from regulators in multiple jurisdictions. To address compliance concerns, Zhao pursued a more regulated operating model, though the company continues to operate without a formal headquarters.

CZ’s major milestones

On March 1, 2021, Binance Loans announced a 180-day loan term, followed by March 22 introducing hourly interest calculations. By 2021, Binance reported handling more than $34 trillion in trading volume. On August 21, 2021, Zhao ranked #22 on Forbes’ “Singapore’s Richest 2021” list, reflecting his growing personal wealth.

Throughout 2021, Binance launched multiple platform upgrades, including March 22, 2021 Online Chat V5.0, June 24 NFT Marketplace, and July 13 Binance Gift Card program. New features like Multi-Assets Mode (May 6, 2021), Auto-Invest recurring purchases (November 23, 2021), and Time-Weighted Average Price (November 1, 2021) enhanced trading, portfolio, and data capabilities.

Despite regulatory challenges, Zhao expanded Binance internationally. On April 1, 2021, recruitment opened for P2P merchants globally, and new payment options were added in Laos (April 7) and Mongolia (May 12). Binance entered Dubai (December 21, 2021) and Indonesia (December 15, 2021), while licenses were secured in Bahrain (December 27, 2021). Operations continued in the United States, Singapore, and El Salvador (March 25, 2022).

Zhao strengthened governance by hiring former regulators (May 25, 2021), improving AML protocols, and cooperating with multiple investigations. Regulatory warnings came from the United Kingdom, Italy, Thailand, and Malaysia throughout 2021. Binance also undertook humanitarian initiatives, including a $10 million donation to Ukraine on February 27, 2022, while shifting toward a fully compliant operational model.

On October 28, 2022, Binance, under CEO Changpeng Zhao, invested $500 million in Elon Musk’s $44 billion acquisition of Twitter. The investment, though relatively small, sparked speculation that the platform could incorporate blockchain and Web3 technologies, aligning social media with crypto innovations and signaling Binance’s strategic interest in bridging digital assets and online communications.

On April 7, 2025, Binance founder Changpeng Zhao (CZ) was appointed Strategic Advisor to the Pakistan Crypto Council. He will guide regulation, infrastructure, education, and adoption, supporting Pakistan’s vision to become a global hub for Web3, digital finance, and blockchain innovation, collaborating closely with government and private sector stakeholders.

On May 5, 2025, Binance founder Changpeng Zhao was appointed public adviser to President Sadyr Japarov of Kyrgyzstan on digital assets. He joined the National Council for the Development of Virtual Assets and Blockchain Technologies, supporting blockchain integration, digital currency development, cybersecurity, and training programs to advance the country’s digital finance ecosystem.

Founding Binance: largest crypto exchange

Binance is a cryptocurrency exchange founded in July 2017 by Changpeng Zhao (CZ). Launched with a $15 million initial coin offering (ICO) for Binance Coin (BNB), it gained rapid popularity due to low trading fees, a sleek interface, and extensive altcoin support, becoming one of the world’s largest cryptocurrency trading platforms.

Within eight months of its launch, Binance became the largest cryptocurrency exchange globally by trading volume. During this period, the company reportedly earned $200 million, highlighting its rapid growth and early dominance in the crypto market. Binance Coin (BNB), launched in 2017 as a utility token for discounted trading fees, is now used across Binance platforms and various blockchain applications. In April 2019, Binance launched Binance Smart Chain (BSC), a blockchain with smart contract functionality designed to compete with Ethereum.

In February 2018, Changpeng Zhao was ranked third on Forbes’ “The Richest People in Cryptocurrency,” with an estimated net worth of $1.1–2 billion. By 2021, Binance had facilitated over $9.5 trillion in trades, representing more than two-thirds of all centralized crypto exchange volume.

In February 2022, Binance announced plans to invest $200 million to acquire a minority stake in Forbes. As of October 2022, Bloomberg ranked Zhao as the 30th richest person globally, with an estimated net worth of $33 billion.

Binance.US is a San Francisco-based cryptocurrency exchange founded in 2019 by Changpeng Zhao. In April 2022, it raised $200 million in a seed round, valuing the company at $4.5 billion. The funding supports U.S. expansion, platform enhancements, and regulatory-compliant growth for both retail and institutional trading. On February 13, 2022, Binance Singapore shut down its trading platform in Singapore after withdrawing its license application, assisting users in transferring holdings to other wallets or third-party services.

⁷ Kanga University, “Who is Changpeng Zhao, CEO of Binance?”, Achieved

⁸ NASDAQ, “Who Is Changpeng Zhao?”, Achieved, Retrieved March 2023

⁹ Protos, “A complete career timeline of Binance’s billionaire chief Changpeng Zhao”, Achieved, Retrieved March 2022

¹⁰ Investopedia, “Binance Invests $500 Million in Musk's Twitter Takeover”, Achieved, Retrieved October 2022

¹¹ Ministry of Information and Broadcasting, Govt of Pakistan, “Binance Founder Changpeng Zhao Joins Pakistan Crypto Council as Strategic Advisor”, Achieved, Retrieved April 2025

¹² The Times of Central Asia, “Binance Founder to Advise Kyrgyzstan President on Digital Assets”, Achieved, Retrieved May 2025

¹³ Binance Square, “The Rise of Binance: From Startup to Crypto Giant" Achieved, Retrieved May 2025

¹⁴ Binance Square, “Changpeng Zhao’s Journey: From McDonald’s to Crypto Magnate”, Achieved, Retrieved November 2023

Legal troubles

Civil lawsuits

On March 27, 2023, the Commodity Futures Trading Commission (CFTC) filed a civil enforcement action against Binance and its founder, Changpeng Zhao, in the U.S. District Court for the Northern District of Illinois. The complaint alleges willful evasion of U.S. law, violations of the Commodity Exchange Act, and operating an unregistered digital asset derivatives platform.

The CFTC claims Binance instructed U.S.-based customers to circumvent compliance controls and failed to implement adequate anti-money laundering measures. Zhao and former CCO Samuel Lim are accused of directing strategic decisions that prioritized profits over regulatory compliance. The Commission seeks monetary penalties, disgorgement, trading bans, and permanent injunctions against further violations.

On June 5, 2023, the SEC charged Binance, BAM Trading, and founder Changpeng Zhao with 13 securities violations, including operating unregistered exchanges, broker-dealers, and clearing agencies. Zhao allegedly secretly controlled Binance.US, misled investors on trading oversight, allowed U.S. customers to bypass restrictions, and engaged in asset commingling and manipulative trading through Sigma Chain.

On November 12, 2024, collapsed crypto firm FTX filed a lawsuit against Binance and former CEO Changpeng Zhao, claiming $1.8 billion was “fraudulently transferred” to Binance executives. The suit concerns Binance’s 2019 stake acquisition in FTX and its subsequent sale back to FTX in July 2021.

Criminal allegations and sanctions

In November 2023, Changpeng Zhao, founder of Binance, agreed to resign as CEO and pay a $50 million fine as part of a guilty plea to U.S. federal charges. Binance also pleaded guilty and committed to $4.3 billion in fines. Zhao was succeeded by Richard Teng as CEO, marking a major leadership and compliance shift in the world’s largest cryptocurrency exchange. Changpeng Zhao pled guilty to violating the American Bank Secrecy Act, acknowledging that he prioritized Binance’s rapid expansion over compliance with the Financial Crimes Enforcement Network (FinCEN) anti-money laundering regulations. Although Zhao personally faced a single criminal charge, his plea agreement required Binance to also admit to operating an unlicensed money transmitting business and violating the International Emergency Economic Powers Act.

In May 2022, Arthur Hayes, co-founder of BitMEX, was sentenced to six months of home detention for violating the Bank Secrecy Act by willfully failing to implement an anti-money laundering program. U.S. Attorney Damian Williams emphasized Hayes prioritized profits over compliance, allowing BitMEX to operate outside U.S. financial regulations.

Pardon by President Donald Trump

In March 2025, reports emerged that the Trump family was considering a potential investment in a cryptocurrency exchange Binance, raising questions about conflicts of interest. Binance founder Changpeng Zhao was simultaneously seeking a presidential pardon after pleading guilty in 2023 to anti-money-laundering violations.

The discussions also suggested possible business ties with the UAE’s royal family, following a $2 billion Binance investment by Abu Dhabi-based MGX Fund Management, chaired by Tahnoun bin Zayed Al Nahyan, brother of the UAE ruler, highlighting the complex global connections of the crypto exchange.

In August 2025, *The* Wall Street Journal reported that Binance was covertly operating a trading platform for the Trump family’s World Liberty Financial. That same month, *The* New York Times reported that Changpeng Zhao was actively seeking a presidential pardon from Donald Trump.

Binance had spent $860,000 on lobbying for clemency and other U.S. policy issues. In October 2025, as part of ongoing efforts to seek a pardon, lobbyist Ches McDowell, representing Changpeng Zhao, held a meeting with former President Donald Trump. McDowell had been introduced to Trump by Donald Trump Jr.

In October 2025, Changpeng Zhao received a presidential pardon from Donald Trump on October 23. White House spokesperson Karoline Leavitt stated that the pardon was granted as part of the administration’s discretion in exercising clemency powers.

¹⁵ Investopedia, “Binance Coin (BNB) Uses, Support, and Market Cap”, Achieved, Retrieved May 2024

¹⁶ Clarisco, “Best Binance Smart Chain Development Company”, Achieved

¹⁷ Business ABC, “Profile: Changpeng Zhao”, Achieved

¹⁸ TexAu, “How Much Did Binance.US Raise? Headquarters, Funding & Key Investors”, Achieved

¹⁹ Forbes, “Crypto Giant Binance Shuts Down Singapore Trading Platform”, Achieved, Retrieved December 2021

²⁰ Commodity Futures Trading Commission, “CFTC Charges Binance and Its Founder, Changpeng Zhao, with Willful Evasion of Federal Law and Operating an Illegal Digital Asset Derivatives Exchange”, Achieved, Retrieved March 2023

²¹ US Securities and Exchange Commission, “SEC Files 13 Charges Against Binance Entities and Founder Changpeng Zhao”, Achieved, Retrieved June 2023

²² The Hindu, “FTX sues Binance and its former CEO for $1.8 billion”, Achieved, Retrieved November 2024

²³ US Department of Justice, “Binance and CEO Plead Guilty to Federal Charges in $4B Resolution”, Achieved, Retrieved November 2023

²⁴ Axios, “Binance CEO "CZ" steps down, pleads guilty to U.S. money laundering violations”, Achieved, Retrieved November 2023

²⁵ U.S. Attorney's Office, Southern District of New York, "Founder And CEO Of Off-Shore Cryptocurrency Derivatives Platform Sentenced For Violating The Bank Secrecy Act", Achieved, Retrieved May 2022

26 Mother Jones, “Trump Family May Invest in Crypto Giant Binance as Founder Seeks Pardon”, Achieved, Retrieved March 2025

27 The Wall Street Journal, “World Liberty, Flagship in Trumps’ Crypto Fleet, Seeks a U.S. Banking License”, Achieved, Retrieved January 2026

28 The New York Times, “Flattery, Lobbyists and a Business Deal: Crypto’s Richest Man Campaigns for a Pardon”, Achieved, Retrieved August 2025

CZ’s views on cryptocurrency

In an interview with *The* New York Times, Zhao observed that many individuals enter the cryptocurrency market primarily to trade and profit from price fluctuations rather than to use digital assets for their intended purposes. He also noted that, despite such behavior, the market has a tendency to self-correct over time. On April 6, 2021, Zhao stated in an interview with Bloomberg Markets that nearly all of his liquid net worth was held in cryptocurrency.

Personal life of CZ

In 2005, after working in Tokyo, New York, and London developing trading systems and managing teams, Zhao Changpeng founded Sistem Fusion in Shanghai, a company recognized for creating high-frequency trading software, following multiple promotions early in his finance and tech career. Later, he sold his house in Shanghai and invested all his funds in Bitcoin, retaining no other assets except his mobile phone. As a result, he was considered by cryptocurrency enthusiasts to be among the first individuals to hold nearly all personal wealth in digital assets.

Changpeng Zhao launched Binance in July 2017 in China, gradually expanding it into the world’s largest cryptocurrency exchange. In September 2017, most employees left China following a government ban on crypto exchanges. By September 2021, Chinese authorities declared all cryptocurrency-related activities illegal, targeting illicit digital currency operations.

As of 2026, Changpeng Zhao is based in Dubai, United Arab Emirates.

Citizenship

Changpeng Zhao was born in China and originally held Chinese citizenship. Over the years, he became a naturalized Canadian citizen. In 2025, Zhao changed his nationality to the United Arab Emirates, reportedly to benefit from the country’s lack of an extradition treaty with the United States. In 2022, Zhao stated that he had acquired Canadian citizenship around 1992, shortly after immigrating to Canada with his family.

Political views

In 2021, while in Singapore, Zhao described his political beliefs, stating that he was “not a complete libertarian” nor an anarchist, and that he did not believe human civilization was advanced enough to exist without rules.

Philanthropy

CZ has pledged to donate up to 99% of his wealth, following examples set by other global magnates. While most of his net worth is in Binance Coin (BNB) and Bitcoin, he considers himself financially independent and emphasizes philanthropy as a primary goal.

²⁹ Politico, “Binance pardon lobby pays off”, Achieved, Retrieved October 2025

³⁰ MSN, “Trump pardoned Ross Ulbricht and Changpeng Zhao, but won't touch SBF — here's why”, Achieved, Retrieved January 2026

³¹ NPR, “Trump grants pardons to Giuliani, Meadows, others linked to 2020 election efforts”, Achieved, Retrieved November 2025

³² The New York Times, “‘I Feel Conflicted’: Crypto’s Offshore Trading Moguls Talk Shop”, Achieved, Retrieved July 2021

³³ Bloomberg, “Binance CEO Goes All-in on Tokens: ‘I Just Want to Keep Crypto’”, Achieved, Retrieved April 2021

³⁴ Binance, “CZ's story: the genius who became the richest Chinese in four years”, Achieved, Retrieved September 2024

³⁵ Binance, “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.”, Achieved, Retrieved November 2023

³⁶ CNN, “Who is Binance founder Changpeng ‘CZ’ Zhao, the billionaire who wants to ‘rebuild’ crypto?”, Achieved, Retrieved November 2022

³⁷ Binance Square, “Zhao Changpeng deliberately changed his nationality to the UAE”, Achieved, Retrieved February 2025

³⁸ Money Control, “'Binance isn't a Chinese firm. Have to repeat it cause I look Chinese': CEO Changpeng Zhao”, Achieved, Retrieved November 2022

³⁹ NPR, “The legal crackdown on Binance clouds future of crypto”, Achieved, Retrieved July 2023

⁴⁰ Investidores Brasil todos os direitos reservados, "Bilionário da Binance vai doar quase todo seu dinheiro", Achieved, Retrieved November 2021