Changpeng Zhao is the Founder and CEO of Binance. It is the world's leading blockchain and cryptocurrency infrastructure provider company. He was born in China.
BINANCE:- https://www.binance.com/en
EDUCATION
Changpeng Zhao earned his Computer Science studies from McGill University, Montreal.
ENTREPRENEURIAL JOURNEY
Changpeng Zhao started working at a very small age. He began working part-time to support his family's expenses. He used to work at McDonald's and a few gas stations after his school.
After graduation, Changpeng Zhao started his career as an intern in Tokyo. He worked for a trader on Tokyo Stock Exchange, who asked Zhao to develop software for matching orders in the stock trade. After the initial experience, he joined the Bloomberg Tradebook LLC in 2001 and worked as the head of the Futures Development Sector for the next 4 years.
Later, in 2005, Zhao co-founded a company called Fusion Systems. The company was involved in providing IT solutions and other business consultancy services. Changpeng Zhao remained as a partner in Fusion Systems until the end of 2013 and then entered the world of Crypto.
By 2013, Changpeng Zhao joined as the head of the development team in Blockchain. Blockchain.com is a company that provides various cryptocurrency-related services. It created a cryptocurrency wallet that has dealt with almost 28% of the bitcoin transactions between 2011 and 2020. Zhao worked in this company for developing software related to crypto wallets.
After working in Blockchain for about a year, Zhao resigned from the company and joined as the Chief Technical Officer in a company named OKCoin. OKCoin, like Binance, was a Crypto Exchange company and is considered to be one of the largest in the world. But Zhao felt that the company doesn’t suit his vision on crypto exchange and he decided to quit his position.
Coming out of OKCoin, CZ founded a company named Bijie Tech. This company provided crypto exchange services to people in Shanghai. It kept serving people for two years from 2015 to 2017, until one day, all the platforms and websites of Bijie tech went dead. There was no information given or clarified from the management regarding the disappearance of the company. But with the death of Bijie Tech emerged a mighty company named Binance.
Changpeng Zhao’s interest in cryptocurrencies started as early as 2014 while he was playing a poker game with his friend. During that time he got to know about Bitcoin and started investing in it. He even sold his house to buy Bitcoins. Such was his interest in the crypto market. Zhao added experience to his interest by working in various companies.
Bijie Tech slowly disappeared only to bloom as Binance. All the top management and resources of the former company structured Binance. Changpeng Zhao has remained the CEO of the company since its formation in 2017. This cryptocurrency exchange platform is the largest exchange in terms of trading. Binance made Zhao a billionaire within just 180 days of its operation. He has grown to be the 11th richest person in the world with his net worth estimated at $96 billion.
Entrepreneurship is not a cup of tea and every entrepreneur has to face several challenges during a struggling period. Zhao also faced myriad challenges during these 5 years in Binance. China’s stringent policies on crypto forced him to shift the headquarters from the Chinese land to Caymen Islands. The United States Department of Justice has put Binance under investigation for money laundering offenses. Similarly, many other countries like Germany and UK have also raised legal actions or warnings against the company. In fact, in 2019, there was a huge theft of bitcoins from Binance whose value stood around $40 million. Zhao faced all these challenges explicitly including the bitcoin theft. He made sure that the company makes up for all the losses and never let his customers down.
If you can't hold you won't be rich.
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