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Changpeng Zhao, commonly known as "CZ," is the co-founder and former CEO of Binance, the world's largest cryptocurrency exchange by trading volume. Here's what you need to know about him¹ ²:
- *Early Life and Career*: CZ was born in Lianyungang, China, in 1977 and immigrated to Canada with his family at the age of 12. He graduated from McGill University with a degree in computer science and worked at Bloomberg Tradebook before co-founding Binance.
- *Binance and CZ's Rise to Fame*: CZ launched Binance in 2017, and within eight months, it became the world's largest cryptocurrency exchange. He also introduced Binance Coin (BNB), which offers discounts on trading fees.
- *Regulatory Challenges*: Binance and CZ faced regulatory challenges, including a $4.3 billion settlement with the US Department of Justice and other agencies in November 2023. CZ pleaded guilty to violating anti-money laundering requirements and stepped down as CEO.
- *Current Status*: CZ was sentenced to four months in prison in April 2024 and was released from custody on September 27, 2024, after serving his sentence. He has since been appointed as a strategic advisor to the Pakistan Crypto Council and the President of Kyrgyzstan, focusing on promoting blockchain technology and digital assets.
- *Personal Life and Net Worth*: CZ has five children and is estimated to have a net worth of $64.8 billion, making him one of the richest people in the world. He plans to donate up to 99% of his wealth to philanthropic causes.
As the founder of Binance, CZ played a significant role in shaping the cryptocurrency industry. His legacy continues to influence the market, and his recent appointments suggest a new chapter in his career focused on promoting blockchain adoption.