From a humble childhood in rural China Binance founder Changpeng Zhao rose to the top of the crypto world seemingly overnight (2024)

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How did Changpeng Zhao get rich? ›

Changpeng Zhao, who goes by CZ, is the founder and former CEO of Binance, the largest cryptocurrency exchange in the world. The Chinese-Canadian coder cut his teeth building high-frequency trading systems for Wall Street's flash boys.

Changpeng Zhao (Chinese: 赵长鹏; pinyin: Zhào Chángpéng), commonly known as CZ, is a Chinese-born Canadian businessman. Zhao is the co-founder and former CEO of Binance, the world's largest cryptocurrency exchange by trading volume as of July 2024.

A US judge has sentenced crypto kingpin Changpeng Zhao, also known as CZ, to four months in prison for breaking anti-money-laundering rules. Changpeng Zhao, founder of Binance, the world's largest cryptocurrency exchange, has been sentenced to four months in prison.

Still, Zhao will enter the history books as the richest person ever to do time in US federal lockup since his ownership of Binance — and an estimated $43 billion personal fortune tied to it — remain intact. His wealth is likely to grow even bigger as Binance's business accelerates amid crypto's latest bull run.

Changpeng “CZ” Zhao once sat atop the crypto industry as the founder and CEO of Binance, the world's leading crypto exchange. On Tuesday, a judge in Seattle federal court sentenced Zhao to four months in prison as part of a plea deal—but the multibillionaire will still retain most of his wealth.

This techie is the world's richest prisoner, with a net worth of $43 billion. Binance founder Changpeng Zhao sentenced to 4 months for failing to prevent cybercriminals. Guilty of US laws violations. Assets remain untouched.

Binance was founded in 2017 by Changpeng Zhao, a developer who had previously created high-frequency trading software.

So, who are the top holders of BTC? According to the Bitcoin research and analysis firm River Intelligence, Satoshi Nakamoto, the anonymous creator behind Bitcoin, is listed as the top BTC holder as of 2024. The company notes that Satoshi Nakamoto holds about 1.1m BTC tokens in about 22,000 different addresses.

Binance is generally considered a reputable and reliable cryptocurrency exchange. However, potential users should carefully consider their individual needs and risk toleance before deciding to use the platform.

Changpeng Zhao reported to a prison in California on Tuesday to begin a four-month sentence for failing to properly safeguard the world's largest crypto exchange against money laundering.

Who is the richest Bitcoin owner? ›

Binance Founder CZ Loses $12 Billion on Crypto-Trading Slump

That wiped $11.9 billion from the fortune of Binance's founder, Changpeng Zhao, known as CZ, dropping him to $17.2 billion. CZ, 46, played a role in the events that landed Bankman-Fried in federal court.

Zhao's 90% equity stake in Binance and the value of his crypto holdings have catapulted him to become the 24th richest individual on the planet, with an estimated $61 billion net worth.

Zhao founded Binance in 2017 and powered it to become the biggest cryptocurrency exchange by trading volume. The exchange handles some $76 billion in daily trading volume, Protocol previously reported. In 2021 alone, Binance generated over $20 billion in revenue, according to Bloomberg.

For the third year running, Changpeng Zhao, founder and former CEO of crypto exchange Binance, is crypto's wealthiest person. Despite pleading guilty to U.S. money laundering charges in November, CZ, as he's known, is now worth an estimated $33 billion, up from $10.5 billion last year.

9.3 billion USD (2024)

Brian Armstrong / Net worth