In the dynamic world of cryptocurrency, few figures are as pivotal as Changpeng Zhao, commonly known as CZ, the founder and CEO of Binance. His journey from flipping burgers to becoming one of the most influential personalities in the crypto space is nothing short of remarkable. This is the story of CZ and the meteoric rise of Binance, the worldâs leading cryptocurrency exchange.
Humble Beginnings
CZâs story begins in Jiangsu, China, where he was born into a family of educators. His early life was marked by his familyâs move to Canada, where he took on part-time jobs, including working at McDonaldâs, to support his familyâs expenses. Despite these modest beginnings, CZ harboured a passion for technology and an entrepreneurial spirit that would eventually lead him to unprecedented heights.
A Leap of Faith into Crypto
After graduating with a computer science degree from McGill University, CZ embarked on a career that saw him develop trading software for the Tokyo Stock Exchange and Bloombergâs Tradebook. However, it was his encounter with Bitcoin in 2013 that changed his trajectory. Captivated by the potential of cryptocurrencies, CZ sold his apartment to go all-in on Bitcoin, a decision that would lay the foundation for his future empires .
The Birth of Binance
In 2017, CZ launched Binance through a $15 million Initial Coin Offering (ICO). Despite the challenges faced by the nascent platform, including a fluctuating value of Binanceâs cryptocurrency (BNB) and the need for a decentralised operation, CZâs leadership steered the company to success. His vision was clear, to create a crypto exchange that offered high volumes, low fees, and distinct advantages to users.
