Changpeng Zhao #51

Founder and CEO of Binance

Changpeng Zhao & Founder and CEO of Binance & background` Changpeng Zhao & Founder and CEO of Binance & poster`
Changpeng Zhao & Founder and CEO of Binance
Category Exchange
person-quote
I’m one of those guys who value liquidity much more than owning something. I actually prefer not to own anything.

Biography:

Changpeng Zhao is the founder and CEO of Binance — a crypto giant that boasts numerous industry solutions. Zhao, commonly known by his nickname “CZ,” was born in China in 1977. 

Armed with experience from his studies at McGill University in Canada, CZ engaged in multiple endeavors in the workforce, including time at crypto exchange OKCoin. CZ ultimately went on to found Binance in 2017, where he has since helped the company grow into a powerhouse in the crypto industry. 

After Binance hit the market in 2017, the company subsequently grew into an overarching brand spanning multiple crypto industry solutions, such as its own blockchains — Binance Chain and Binance Smart Chain.

When did CZ first learn about crypto? During a poker game in 2013. Less than a decade later, CZ is estimated to be one of the world’s richest people.  

CZ’s 2021:

Binance captured numerous headlines in 2021, with regulation looming in the air for the crypto industry titan throughout 2021. A bevy of countries came out against Binance on the regulatory front during the year at various points. In turn, CZ expressed a desire to have Binance up to snuff in terms of regulation across the globe. 

Binance has not really had a home base in any single country since its inception, operating in a decentralized fashion — in line with one of the crypto industry’s core principles. In 2021, however, CZ started Binance on a more centralized path to appease regulatory requirements. Ireland looks to be potentially shaping up as a main hub for Binance, based on the fact that Binance registered four outfits in the region in 2021, including Binance Holdings.  

In August 2021, Binance altered its terms of participation, requiring that customers provide certain data and identification documents. Know Your Customer and Anti-Money Laundering regulations have come up as relevant points in the crypto industry over the years. KYC and AML regulations go hand in hand, essentially requiring certain entities to gather specific information and identification documents from customers in an effort to fight against potential illegal activity. Binance increasing its requirements on this front makes sense in light of the regulatory troubles the organization faced in 2021, but did cause some anxiety among the crypto community.  

CZ’s 2022:

What will 2022 bring for CZ? Although one cannot be certain, it would be logical for Binance to continue wading through the waters of regulation. As CEO, CZ is expected to have a large hand in wherever Binance heads. In 2021, however, CZ deemed it a possibility that someone else might come in and take the wheel as CEO at some point. 

Additionally, given Binance’s many product offerings, it would make sense that the organization would maintain its relevance in the fast-moving crypto industry, which could mean more solutions being added in 2022 and recently released products, like the Binance NFT marketplace, being given an extra boost. 

It would make sense for Binance to continue firming up its regulatory compliance and parameters in 2022, as well as possibly proceeding forward with Ireland as a focal location. On the other hand, in late 2021, CZ did note France as a potential location for Binance’s main operations.

In 2021, CZ also noted potential for Binance’s United States branch, Binance.US, to possibly go public at some point within three years. 

CZ has clearly done well for himself in general, rewarded for his determination and industry progression. In early 2022, numbers showed CZ’s net worth at $96 billion.