Nearly every crypto enthusiast knows Changpeng “CZ” Zhao, the billionaire founder of Binance who’s making headlines again – this time from an unlikely comeback tour. The guy who started with a 286 DOS machine and flipped burgers at McDonald’s has proven that even a stint in prison can’t keep a crypto mogul down for long.
From his humble beginnings in Lianyungang to becoming the wealthiest Chinese person in 2021 (worth a cool $94.1 billion), CZ’s story reads like a Silicon Valley fairy tale – if fairy tales included guilty pleas and four months behind bars. His early commitment to crypto was evident when he sold his house in 2014 to buy Bitcoin at $600. His experience at the Tokyo Stock Exchange developing sophisticated trading systems laid the groundwork for his future success in cryptocurrency.
After immigrating to Canada and working gas station gigs, he sold his house to launch Binance in 2017. Talk about betting the farm.
The exchange exploded, becoming crypto’s 800-pound gorilla. Deep liquidity, lightning-fast trades, and a user interface that didn’t require a PhD in computer science to navigate. But success attracted scrutiny.
By November 2023, regulatory heat forced CZ to step down as CEO, handing the reins to Richard Teng amid money laundering violations.
Prison wasn’t the end of CZ’s story, though. Since his release in late 2024, he’s been busy. Really busy. Advisory roles in Pakistan and Kyrgyzstan’s crypto councils suggest he’s shifting from exchange operator to policy influencer.
With an estimated net worth of $64.8 billion as of May 2025, he’s still got plenty of skin in the game.
The change at Binance hasn’t been all sunshine and rainbows. The company’s scrambling to polish its compliance credentials while maintaining its market dominance.
Meanwhile, CZ keeps making waves with market-moving statements – because apparently, that’s what you do when you’re sitting on a crypto fortune that could buy several small countries.
From Chinese immigrant to crypto kingpin to convict to comeback kid – CZ’s journey perfectly encapsulates crypto’s wild ride. Love him or hate him, his influence on the digital asset landscape is undeniable. Just don’t expect him to be processing your KYC documents anytime soon.
