Changpeng Zhao is a Canadian-Chinese businessman and the founder of Binance, know his net worth in 2023
Find out more about him and his company.
In a petition filed on Monday in federal court in Illinois, the Commodity Futures and Trading Commission said that cryptocurrency exchange Binance, its co-founder Changpeng Zhao, and its former top compliance officer Samuel Lim were all in violation of federal securities laws.
The CFT charged that Binance aggressively sought out US consumers while undermining the exchange’s own “ineffective compliance program.”
Who is Changpeng Zhao Binance founder, net worth in 2023, age, family, wife, education, Twitter
Coincidentally, a few days prior to the CFTC complaint, CNBC reported that Binance workers in China were using methods similar to those the CFTC claims Binance used to lure U.S. users to the exchange. These methods allegedly bypassed the compliance controls of the exchange.
Due to this recent development, Changpeng Zhao has become a trending topic of discussion with many people trying to find out more about him. So, here’s what we know about him:
Who is Changpeng Zhao?
BREAKING‼️🇺🇸 Binance and its founder Changpeng Zhao sued for breaking trading and derivatives rules by commodities regulator – Bloomberg pic.twitter.com/KPVEQeFR6A
— Radar🚨 (@RadarHits) March 27, 2023
Changpeng Zhao is a well-known Chinese Canadian businessman, investor, and software engineer. He has been in the news because his company, Binance, violates American federal securities laws.
He was born on February 5, 1977, in Jiangsu, China. In the 1980s, he shifted to Canada’s Vancouver. Both of his parents are schoolteachers.
After completing his schooling, Changpeng Zhao attended McGill University in Montreal, Quebec, and majored in computer science. After briefly moving to China, he is presently based in Singapore.
He is unmarried; however, he is reportedly in a relationship with Yi He, a former Chinese travel television show host and Binance co-founder. They are also the parents of one son.
He is currently 46 years old. Many people also called him ‘CZ’.
His career
Changpeng Zhao had humble beginnings and worked several low-paying jobs to support his family during his teenage years. After completing his studies, he began his career as a software developer in Tokyo.
He then moved to Shanghai to establish his startup, Fusion Systems, which became known for its fast automated high-frequency trading platforms for stockbrokers. In 2013, he served as Chief Technology Officer of OKCoin and was a member of the team that developed Blockchain.info.
However, it was the launch of Binance in July 2017 that propelled him to fame. Within eight months, Binance became the world’s largest cryptocurrency exchange by trading volume, and Changpeng Zhao launched Binance Coin.
He continued to expand Binance’s services, launching its U.S. affiliate, Binance.US, in 2019. However, the company faced legal issues when the Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance and Zhao in March 2023.
Changpeng Zhao’s net worth
He has an estimated net worth of about $30 billion.