Changpeng Zhao, widely known by his initials "CZ," is a prominent Chinese-Canadian business executive, software engineer, and the founder of the cryptocurrency exchange Binance. Born on February 5, 1977, in Lianyungang, Jiangsu province, China, Zhao’s early life was marked by significant upheaval. His father, an academic, was labeled a "pro-bourgeois intellect" by the Chinese government, leading to the family's displacement and eventual emigration to Vancouver, Canada, in 1989. During his formative years in Canada, Zhao supported his family through various service industry positions, including employment at a McDonald’s restaurant and a gas station, before enrolling at McGill University in Montreal to study computer science. Zhao’s professional career began in the financial technology sector, where he developed systems for high-frequency trading and market infrastructure. Following an internship with the Tokyo Stock Exchange, he spent four years at Bloomberg Tradebook, where he played a key role in developing futures trading software. In 2005, seeking entrepreneurial opportunities in Asia, he moved to Shanghai to co-found Fusion Systems, an IT consultancy known for creating high-speed trading platforms for brokers. His transition into the cryptocurrency industry occurred in 2013 after he was introduced to Bitcoin during a poker game. Recognizing the potential of the technology, he liquidated his Shanghai apartment to invest heavily in Bitcoin and subsequently joined Blockchain.info as the head of development and later became the Chief Technology Officer (CTO) of the exchange OKCoin. In July 2017, Zhao launched Binance, which rapidly evolved into the world's largest cryptocurrency exchange by trading volume. The platform, initially funded through an initial coin offering (ICO) that raised $15 million, became a centerpiece of the global digital asset ecosystem. Under Zhao's leadership, Binance expanded aggressively, introducing its own blockchain and native token (BNB), and building a vast network of products and services that catered to millions of users worldwide. His management style, characterized by rapid iteration and a "move fast" philosophy, facilitated the company's dominance but also brought it into increasing conflict with international regulators. The expansion of Binance eventually attracted scrutiny from United States authorities regarding its compliance with anti-money laundering (AML) protocols and the Bank Secrecy Act. In November 2023, following a multi-year investigation, Zhao reached a settlement with the U.S. Department of Justice. As part of the agreement, Zhao pled guilty to failing to maintain an effective AML program at Binance and agreed to resign from his position as CEO. The settlement involved significant financial penalties for both the company and Zhao personally. Subsequently, Zhao served a four-month prison sentence in the United States, concluding his incarceration in September 2024. In October 2025, he received a full presidential pardon. Despite his resignation from the daily operations of Binance—where he was succeeded by Richard Teng—Zhao remains a significant, though non-operational, shareholder in the company and continues to exert considerable influence within the cryptocurrency industry. His wealth, largely derived from his stake in Binance, has solidified his status as one of the world's most affluent individuals. In the post-CEO phase of his career, Zhao has publicly shifted his focus toward impact-oriented investments, including ventures in education, biotechnology, and decentralized technology. He remains an active commentator on the future of blockchain, consistently advocating for the long-term adoption of digital assets and the development of clear regulatory frameworks to foster innovation in the global financial sector.