According to a new report on Changpeng Zhao, he now owns more money than India’s richest men, Mukesh Ambani and Gautam Adani. Changpeng Zhao’s net worth has reportedly reached $ 96 billion, according to a recent Bloomberg report.
Allow us to introduce Changpeng Zhao, also known as CZ. He is the founder and CEO of the Binance cryptocurrency exchange. He has prior experience in the cryptocurrency industry. Zhao was also a member of the Blockchain.info development team.
He has also served as the Chief Technology Officer of the cryptocurrency exchange OKCoin. Changpeng Zhao was born in China but moved to Canada with his family when he was about 12 years old.
In China, both of his parents worked as teachers. Zhao supported his family by working in a variety of places. He also had a job at McDonald’s.
He was very interested in computer science while at McGill University. He got a subcontractor internship at the Tokyo Stock Exchange after graduating. He used to work there as a software developer for trade orders. Following that, he spent four years at Bloomberg Tradebook.
In the year 2005, he moved to Shanghai and founded Fusion Systems, the broker’s fastest frequency trading system. After the year 2013, he became interested in cryptocurrency. Following that, he worked for Blockchain.info and OKCoin.
In 2017, he left OKCoin and founded Binance, a cryptocurrency exchange. It was first released in July of 2017. Zhao surpassed Binance as the world’s largest cryptocurrency exchange by trading volume within eight months of its launch.
Zhao also launched the Binance Smart Chain blockchain network. They are contributing to the growth of the decentralised finance industry in this way. Zhao stated in an interview with Bloomberg Markets last year that cryptocurrencies account for 100 percent of his liquid net worth.
In an interview, he also stated that he, along with the rest of the entrepreneurs and founders, will donate 99 percent of their wealth. Binance began operations in China, but moved its headquarters to Japan before cryptocurrency trading was outlawed in the country.
Changpeng Zhao’s net worth has risen to $ 96 billion as a result of Binance’s success. Zhao’s wealth, however, could be higher because it does not include his cryptocurrency investments.