Changpeng Zhao, or CZ as he's more popularly known, is a name synonymous with cryptocurrency. The Chinese-Canadian businessman is the founder and former CEO of Binance, the world's largest cryptocurrency exchange by trading volume.
CZ's journey in the crypto world began in 2013, when he was introduced to Bitcoin. He quickly grasped the potential of this new technology and began investing in cryptocurrencies. In 2017, he saw an opportunity to create a better cryptocurrency exchange and Binance was born.
Binance's success can be attributed to CZ's vision and leadership. He focused on building a user-friendly platform with a wide range of cryptocurrencies and trading features. Binance also adopted a competitive fee structure, making it an attractive option for both individual and institutional investors.
CZ's vision wasn't just about building a successful exchange. He also believed in the potential of blockchain technology to transform various industries. Binance played a key role in promoting crypto adoption through educational initiatives and investments in blockchain startups.
However, CZ's journey wasn't without challenges. In 2021, Binance faced increased scrutiny from regulators around the world. This led to Binance limiting its services in certain jurisdictions and focusing on compliance.
In November 2023, CZ stepped down as CEO of Binance after pleading guilty to charges of violating the Bank Secrecy Act in the United States. Despite this setback, CZ remains a significant figure in the cryptocurrency industry. His vision and leadership have played a major role in shaping the crypto landscape.