How CZ Launched Binance And Became The Richest Person In Crypto?

One of the most well-known figures in the cryptocurrency world today is Changpeng “CZ” Zhao, founder and CEO of the major cryptocurrency exchange Binance. However, his journey from poverty to wealth is truly inspirational.

CZ was 12 years old when his family moved to Vancouver, Canada from a town in Jiangsu, Shanghai, where he was born. After completing his college coursework in computer science engineering, he spent the following few years developing trading platforms for well-known exchanges like the Tokyo Stock Exchange and Bloomberg Tradebook.

CZ relocated back to Shanghai after quitting his wealthy position in 2005 to launch his own business. After spending eight years developing his business, CZ eventually discovered Bitcoin in 2013, which completely altered his life.

CZ got the Bitcoin bug bad, so in 2014 he sold his house and bought BTC at an average price of $600 per coin, going all-in on the young digital currency. The price of bitcoin dropped shortly after and reached $200, but CZ’s faith in the technology allowed him to ride out the bad market. After two years, the cost increased once more.

CZ Founding Binance In July 2017

Nearly four years after discovering Bitcoin, CZ launched his own cryptocurrency project, founding Binance in July 2017 at the height of the initial coin offering frenzy. In terms of daily trade volume, Binance is among the top worldwide cryptocurrency exchanges five years later.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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