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Surely anyone who has entered the crypto market (even if they are a novice) has heard of or had an account above. Binance exchange.
And in this article, CHK will talk about the man who built the Binance empire and made it the top exchange in the world in just 7 months of building and developing.
Changpeng Zhao Who is (CZ)?
Changpeng Zhao also known as CZ is a Chinese Canadian. He is considered one of the most influential people in the crypto community.
He used to be a developer at Blockchain.info, CTO of OKCoin. Currently the CEO and founder of Binance (the largest cryptocurrency exchange in the world).
Childhood forced to leave the homeland
When everyone heard the name Changpeng Zhao (CZ), everyone realized that this was a person from China. Yes, CZ was born in Jiangsu province, China in 1977 into an educated family whose father is a professor and mother is a teacher.
However, in the late 1980s, his family was forced to leave his homeland and go to the country to live because it was labeled as a “bourgeois intellectual”.
However, this can be seen as one of the first major turning points for CZ when his parents chose Vancouver, Canada to live. An integrated and developed country has brought him an advanced education.
The adolescence was full of difficulties and hardships
Life in the countryside, for migrants, is always full of difficulties and barriers; from language, food, weather to lifestyle, way of life …
As a result, teenage boy Changpeng Zhao has to finish classwork while working after school to help support his family. It is known that around that time he worked part-time at a McDonalds and worked the night shift at a gas station.
Difficulty is that, so hard, but the boy is still not slack in school. After completing high school, CZ moved to Montréal to study computer science at McGill University.
Promising career before moving to a new site
After completing the course, to gain more experience, Changpeng Zhao went to Tokyo to work for a company developing software to help match orders for the Tokyo Stock Exchange.
In 2001, he went to New York and joined Bloomberg, becoming the person responsible for developing software systems for futures trading.
After 4 years of working with 3 promotions “speedy” in one of the largest corporations in the world; He died while on his way to the top of his career.
This time, the next place he visited was his hometown. In 2005, CZ traveled to Shanghai and founded her own “world” – Fusion Systems. This is a company known for building some of the fastest high-frequency trading systems for brokers.
But fate came one fall day in 2013. At that time, Changpeng Zhao had a friend who played poker together, Ron Cao. It was this person who introduced Bitcoin to him.
And what will also come, in December 2013, Zhao decided to break up with his “first child” after eight years of sticking to London; officially joined the cryptocurrency industry.
Around the same time, he sold his Shanghai home invest in Bitcoin – First crypto deal.
The first steps to the top
After arriving in London, Changpeng Zhao joinedas the third member of the crypto wallet group; and quickly became CTO here.
During this time, he worked with Ben Reeves, Roger Ver, Anthony Antonopoulos and Nicolas Cary (prominent industry figures) to develop the service.
About a year later, he left London again, returning to China to become the CTO of crypto exchange OKCoin. Under CZ’s leadership, OkCoin became the leading exchange in China at that time.
But eight months later, he unexpectedly announced he left OKCoin after the company had a dispute over a contract with Roger Ver. A farewell is not peaceful!
In September 2015, Zhao returned to Shanghai to found BijieTech – a company focused on providing cloud-based trading systems for operators.
But after transferring jobs and setting up two companies, he was still not satisfied and once again took off his shirt with “take the second child”.
Empire is born
After two years into this industry,
- Witness some historic events, like the MT.GOX exchange being hacked to the point of declaring bankruptcy
- Along with the “dream” of having a pure crypto exchange, not related to fiat
- And period ICO boom
Changpeng Zhao realizes this is the perfect time to create an empire of his own. So he decided to launch an ICO in July 2017 and raised $ 15 million with 200 million BNB sold in sales.
With all the experience that he has accumulated from the early days of his career building; In less than eight months, Zhao has transformed Binance from a startup to an exchange giant. Bounce off all the exchanges that dominated the market before.
In fact, Binance has grown so fast that CZ itself was quite surprised. However, a closer look will not feel too surprising about why this startup is able to take over the market from the hands of the big guys so quickly.
There are many criteria to bring Binance to the top 1, typically:
- The exchange launches original token, aiming to give preferential transaction fees to those who use BNB
- Pay attention to the security system
- Extremely fast transaction speed. The exchange can process about 1.4 million transactions per second
With the strong growth of Binance, it quickly turned the talented leader of the exchange to become one of the richest people in the industry ranked by Forbes.
Leaders always adapt very quickly to changes
And once again, a new turning point happened for CZ. Also in 2017, the Chinese government that issued an ICO ban along with cryptocurrency trading forced Changpeng Zhao to remove his “third child” from China.
But it seems that thanks to this move it helped the floor expand faster; Shortly thereafter, the exchange opened two offices in Japan and Taiwan.
On March 26, 2018, the company officially set up its head office in Malta; and to this point, Binance appears to have offices in vibrant cryptocurrency exchange markets around the world.
Besides, before the launch announcement Binance P2P – Binance’s platform that allows users to trade with each other using fiat – shows that Zhao was not conservative with his original notions (just creating a pure crypto exchange) but willing to like thinking, changing thinking according to the changes of the market.
That is the way of thinking only found in good leaders. And with his talent, surely the pages of the crypto industry will give Changpeng Zhao a page to honor him forever.
Through this post, everyone can grasp the life of CZ as well as know who CZ is right!
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