10 Things You Didn’t Know About Changpeng Zhao

Changpeng Zhao, often referred to as CZ, is best known as the founder and CEO of Binance, one of the world’s leading cryptocurrency exchanges. However, there’s a lot more to this influential figure than meets the eye. From his early career in the fast food industry to his role in the growth of blockchain technology, let’s take a look at ten interesting facts about Changpeng Zhao.

1. He Used to Flip Burgers for a Living

Changpeng Zhao may occupy the C-suite today, but he hasn’t always held such lofty positions. Before becoming a prominent figure in the cryptocurrency space, CZ worked at a McDonald’s restaurant in Vancouver. This part-time gig not only helped him pay for his school fees, but also taught him valuable lessons about hard work and dedication.

Despite his eventual success, CZ has always been humble about his beginnings, often citing his experience at McDonald’s as a significant factor which contributed to his work ethic. His story emphasizes that the journey to success isn’t always linear and hard work never goes out of fashion.

2. CZ is a Serial Entrepreneur

CZ has started several businesses over the past decade. Before Binance, he co-founded Fusion Systems, a high-frequency trading system company for brokers. He also worked at Bloomberg Tradebook where he developed futures trading software.

In fact, it was in the blockchain company Blockchain.info where CZ got his first taste of the crypto world. Later, he joined OKCoin as head of development, laying the groundwork for his own cryptocurrency exchange’s eventual launch. His entrepreneurial spirit pushed him to explore unknown territories and helped him establish Binance as a reputable platform in the crypto world.

3. He is a Genuine Crypto Believer

Changpeng Zhao isn’t just in the cryptocurrency business for profit. He absolutely believes in the transformative potential of blockchain technology and crypto. In fact, he’s known for selling his house in 2014 and investing the proceeds in Bitcoin when it was just gaining some buzz.

His faith in the eventual mainstream acceptance of crypto is not only reflected in his personal investments, but also in his commitment to Binance. His belief in the potential of blockchain technology has inspired countless others to hold onto their crypto investments in spite of market fluctuations.

4. CZ Is Known For His Humility

Despite being a highly successful entrepreneur and tech influencer, CZ maintains an incredibly modest demeanor. His Twitter bio simply reads “Just a guy who likes #coding.” This humility extends into his interactions within the blockchain industry as well. CZ is known for supporting other blockchain projects, often referring business to competitors when Binance is overloaded.

His humility sets him apart from many other industry leaders. Instead of viewing others as competition, CZ sees the crypto space as a place for collaboration and growth, further testament to his belief in the overarching potential of blockchain technology.

5. He’s A Philanthropist

Changpeng Zhao’s success hasn’t hindered his sense of societal responsibility. He launched the Binance Charity Foundation, utilizing blockchain technology to bring about transparency in charitable donations. This platform aims to ensure that every penny donated reaches its intended beneficiary.

Binance Charity has initiated multiple projects globally, focused on health, education and emergency relief. CZ’s philanthropic initiative serves as a prime example of how blockchain technology can serve societal development and give back to the global community.

6. He Has Been Threatened with Lawsuits

Even as the CEO of a leading crypto exchange, CZ has faced his own share of controversy. He has been threatened with lawsuits from multiple individuals and businesses but has always maintained his ground. His approach to these threats has been transparent and factual, preventing reputational damage to Binance.

While these legal threats underscore the complexities involved in running a successful crypto exchange, they also highlight CZ’s resilience and determination to maintain Binance as a leading player in the crypto space.

7. He Became a Billionaire in Less Than a Year

After the launch of Binance in July 2017, CZ has been quick to amass wealth which landed him on the Forbes List of wealthiest people. This rapid wealth accumulation showcases the impact of cryptocurrencies and their potential to create significant wealth and value within a short timeframe.

Although CZ is not driven by wealth, his success story certainly offers motivation to budding entrepreneurs in the blockchain and crypto space. It emphasizes the tremendous potential that lies within this industry.

8. He Holds No Office or House

In spite of all his wealth, Changpeng Zhao leads an unconventional lifestyle. He owns no home and opts to live a nomadic lifestyle, moving from hotel to hotel. Similarly, Binance, despite its global presence, holds no office and operates in a completely decentralized manner.

This lifestyle choice truly reflects CZ’s belief in a decentralized world. He not only preaches the benefits of decentralization through blockchain technologies but lives out the principles in his own life.

9. He Values Transparency

Integrity and transparency are two of CZ’s main priorities at Binance. His dedication to maintaining these principles has led to the implementation of practices such as the “SAFU” (Secure Asset Fund for Users) protocol to combat any potential security issues.

His commitment to transparency extends beyond Binance, having publicly parted ways with advisory roles when the projects lacked his level of integrity. For CZ, transparency is more than a buzzword, it’s a fundamental principle of operation.

10. He’s an Author

Recently, CZ dived into the world of publishing by releasing his book, “Code of the Future”. In his book, CZ shares his journey as an entrepreneur and his thoughts on blockchain tech, cryptocurrency market, and the Binance’s journey. The book offers valuable insights to anyone wanting to familiarize themselves with CZ’s vision for the future of technology, finance, and society at large.

COMMENTS:

If you have more to share about CZ or wish to learn more about such influential people in the crypto industry, feel free to leave us your thoughts in the comments section below!

You can follow Changpeng Zhao on Twitter
@cz_binance

Purchase the book “Code of the Future”
here.

Learn more about Binance’s charity initiatives
here.