Binance Īfter its launch in July 2017, the Binance cryptocurrency exchange was able to raise $15 million in an initial coin offering, and trading began on the exchange eleven days later. In 2013, Zhao was a member of the team that developed and he also served as Chief Technology Officer of OKCoin. Zhao instead "went all in" and sold his apartment in Shanghai and invested all in Bitcoin, to his family's dismay. Bobby Lee advised Zhao to put 10% of his money into bitcoin.
In 2005, Zhao moved to Shanghai to establish his technology startup company, Fusion Systems, which was known for "some of the fastest automated high-frequency trading platforms and systems for stockbrokers." Zhao first heard of bitcoin in 2013 when playing poker with Bobby Lee (brother of Charlie Lee) who would later go on to found BTCC (company). He then worked full-time for four years at Bloomberg Tradebook where he was a developer of futures trading software.
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Early career Īfter graduating from McGill, Zhao was selected for an internship in Tokyo working for a subcontractor of the Tokyo Stock Exchange, developing software for matching trade orders. Zhao attended McGill University in Montreal, Quebec, where he majored in computer science. During his teenage years in Canada, Zhao helped to support his family by holding down a number of menial service jobs, including working as a fast-food clerk at a McDonald's restaurant and a gas station. His father worked as a university instructor before he was branded a "pro- bourgeois intellect" and exiled to rural areas shortly after Zhao's birth. His parents were both schoolteachers in China. In the late 1980s, when he was 12 years old, he immigrated with his family to Canada, settling down in Vancouver, British Columbia. Zhao was born in China's Jiangsu province. Īccording to Bloomberg Billionaires Index, Zhao was ranked the 136th-richest person in the world, with a net worth estimated at $13.1 billion as of December 2022. Zhao is the co-founder and CEO of Binance, the world's largest cryptocurrency exchange by trading volume as of July 2022. Changpeng Zhao ( Chinese: 赵长鹏 pinyin: Zhào Chángpéng), commonly known as CZ, is a Chinese-born Canadian businessman, investor, and software engineer.
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