Love him or criticize him, CZ's (@cz_binance) rise has become one of the defining stories of the crypto era.

Few figures in crypto provoke as much debate as Changpeng Zhao, universally known as CZ. His story reads like a modern parable: a Chinese-born Canadian who worked shifts at McDonald's to support his family, studied computer science at McGill University, and then made a bet so audacious it would reshape global finance.

From Zero to the World's Biggest Exchange

Zhao first heard of Bitcoin in 2013 at a poker game. When a fellow player advised him to put 10 percent of his money into it, he went all in instead, selling his Shanghai apartment and investing everything he had. That conviction eventually led him to found Binance in July 2017. After raising $15 million through an initial coin offering, Binance grew into the world's largest cryptocurrency exchange by trading volume in less than eight months. He also launched Binance Coin ($BNB) that same year, a utility token that gives holders benefits such as discounts on trading fees.

The exchange reportedly processes more than $30 trillion in annual trading volume across spot and derivatives markets, and analysts estimate Binance generated between $16 billion and $17 billion in revenue, roughly two and a half times that of rival Coinbase. Forbes values the private exchange at around $100 billion, with Zhao believed to hold approximately a 90% ownership stake.

Legal Reckoning and What Came After

Six years after founding Binance, Zhao pleaded guilty to failing to maintain an effective anti-money laundering program following a sweeping US investigation into the company's compliance practices. He agreed to pay a $50 million personal fine, stepped down as CEO, and served four months in a California prison. Binance also agreed to pay $4.3 billion in fines, and Richard Teng was appointed as the new chief executive.

In October 2025, Zhao received a presidential pardon from President Donald Trump. A separate SEC lawsuit against Binance and Zhao, filed in June 2023, was officially dismissed in May 2025. Through it all, his wealth remained largely intact. Less than a year and a half after his release, Zhao re-emerged as the wealthiest figure in crypto, with his net worth surging to roughly $110 billion, a $47 billion increase from the prior year, according to Forbes. The same Forbes estimate places him just ahead of Bill Gates in the global wealth rankings.

In 2026, Zhao continues to rebuild. He channels investments through YZi Labs and maintains an active dialogue with governments on crypto regulation, while also backing projects such as Giggle Academy, a free education initiative. He also published a memoir, Freedom of Money, in April 2026, written largely during his four-month incarceration, offering a personal account of his childhood, his family's move to Canada, and the founding of Binance.

Whether viewed as a pioneer or a cautionary tale, Changpeng Zhao has left a mark on the crypto industry that is difficult to overstate.

Sources:
Changpeng Zhao – Wikipedia
Binance Founder Changpeng Zhao Net Worth Surpasses Bill Gates – Yahoo Finance
What to Know About Trump's Pardon of Binance's Founder – TIME