Changpeng Zhao - Forbes

PROFILEChangpeng Zhao$62.3B

Real Time Net Worth

as of 11/24/24Reflects change since 5 pm ET of prior trading day.#24 in the world todayPhoto by Yong Li Xuan/The Straits Times/NewscomFrom the Editor

• 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.
• Zhao founded Binance in 2017, raising $15 million through an initial coin offering.
• In 2023, Binance facilitated roughly half of all spot trades processed by centralized crypto exchanges.
• Zhao pled guilty to U.S. charges of fraud and money laundering in 2023 and awaits sentencing. He retains an estimated 90% stake in Binance.

Wealth HistoryHOVER TO REVEAL NET WORTH BY YEAR

Forbes Lists

#50Billionaires (2024)#22Singapore's 50 Richest (2021)#5Crypto Rich List (2021)#216China Rich List (2018)More ListsPersonal StatsAge47Source of WealthCryptocurrency exchange, Self MadeResidenceDubai, United Arab EmiratesCitizenshipCanadaDid you knowZhao was born in Jiangsu, China. His father, a professor, was labeled a pro-bourgeois intellect and temporarily exiled shortly after CZ was born.As a teenager in Vancouver, CZ pitched in to cover the household expenses, flipping burgers at McDonald's and working overnight shifts at a gas station.In Their Own Words

We need to respect the market, with a level of caution too. It goes up and down in cycles. And especially the fact that it doesn't always make sense.

Changpeng Zhao

Related People & CompaniesFred EhrsamRelated by origin of wealth: Cryptocurrency exchangeView ProfileCanadaCitizen of CanadaView Profile

More on Forbes

Nov 11, 2024

FTX Sues Binance CEO Zhao For $1.76 Billion: Conspiracy Vs Governance?

FTX’s bankruptcy estate has launched a $1.8 billion lawsuit against Binance and its former CEO, Changpeng Zhao, accusing them of fraudulent transactions.ByAlexandra AndhovContributorApr 30, 2024

Binance Founder Changpeng Zhao Sentenced To 4 Months In Prison

Zhao’s lawyers have requested five months’ probation, noting the crypto billionaire had accepted responsibility for violating anti-money laundering laws.BySiladitya RayForbes StaffApr 24, 2024

DOJ Seeks 3-Year Prison Sentence For Binance Founder Changpeng Zhao

The justice department’s lawyers argued a three-year sentence would send a message to Zhao and the world.BySiladitya RayForbes StaffDec 21, 2023

A Better Crypto World In 2024? (December Issue)

As we roll into 2024, crypto looks to turn the page on the era of Sam Bankman-Fried and Changpeng Zhao. Look inside to see what it means for investors.BySteven EhrlichForbes StaffNov 30, 2023

Binance’s Changpeng Zhao Clings To Multibillion-Dollar Fortune After Guilty Plea

John Hyatt, a senior wealth reporter for Forbes, joins Rosemarie Miller on ‘Forbes Talks’ to discuss how Changpeng Zhao’s plea deal will affect Binance’s operations moving forward.WATCHNov 27, 2023

Ex-Binance Chief CZ Must Stay In U.S. After Guilty Plea—For Now

Last week, Changpeng Zhao pleaded guilty to anti-money laundering and sanctions violations. ByAna FaguyFormer StaffNov 27, 2023

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Binance’s Changpeng Zhao Clings To Multibillion-Dollar Fortune After Guilty Plea

Changpeng Zhao became crypto’s richest person while evading sanctions laws. His pleading guilty to money laundering charges is unlikely to change that–at least for now.ByJohn HyattForbes StaffNov 22, 2023

Bitcoin Is Up 120% This Year, Here Are Four Other Cryptos To Buy, HODL Or Sell

Billionaire Changpeng Zhao is the latest crypto kingpin to fall. Meanwhile crypto markets are rebounding. Here’s how to play bitcoin, ether, solana, bnb and blur. BySteven EhrlichForbes StaffNov 21, 2023

Richard Teng A Top Contender For New Binance CEO As CZ Steps Down

With Changpeng “CZ” Zhao stepping aside as part of a $4 billion settlement, the crypto exchange is considering replacing him with the Binance executive, according to a source familiar. ByDavid JeansForbes StaffSep 15, 2023

Binance CEO Issues ‘Frank’ Warning As Fears Swirl Of An Imminent Bitcoin, Ethereum And Crypto Price Crash

Binance CEO Changpeng "CZ" Zhao has issued a "frank" warning over disappearing "fiat ramps" that could weigh on the entire bitcoin, ethereum and crypto market...ByBilly BambroughSenior ContributorJun 6, 2023

Crypto Prices Plunge As Sector Grapples With Fallout From SEC’s Binance Lawsuit

The powerful financial regulator accused Binance and its billionaire chief Changpeng Zhao of misusing investor funds and of weaving an “expansive web of deception.” ByRobert HartForbes StaffJun 5, 2023

Binance’s Token BNB Plummets Almost 10% In Biggest Drop This Year After SEC Sues Crypto Giant

Binance and its founder Changpeng Zhao were sued by the SEC on Monday for allegedly misusing customer funds and diverting some to a trading entity owned by Zhao.ByBrian BushardFormer StaffJun 5, 2023

SEC Charges Binance With Dodging Regulation While Piling Up Billions Of Dollars

Court action follows similar CFTC complaint, names CEO Changpeng Zhao in “plan to evade U.S. laws.” ByMitchell MartinFormer StaffNov 7, 2022

Billionaire Changpeng Zhao’s Binance To Offload All Remaining FTT Tokens Of Sam Bankman-Fried’s FTX

Changpeng Zhao wrote on Twitter that the decision to offload $580 million worth of FTT tokens was due to “recent revelations that have come to light."ByZinnia LeeForbes StaffSep 6, 2021

Crypto Billionaire Changpeng Zhao To Cease Some Binance Services In Singapore Amid Regulatory Scrutiny

Binance—controlled by billionaire Changpeng Zhao—said it will discontinue offering some of its products in Singapore after regulators announced last week that the world’s largest cryptocurrency exchange may be breaching rules in the city-state.ByJonathan BurgosForbes StaffMore Articles

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