Rise to Success: Career Highlights of Changpeng Zhao

From career breakthroughs to professional milestones, explore how Changpeng Zhao made an impact.

Changpeng Zhao, or CZ, is a Chinese-Canadian businessman and the co-founder of Binance, a leading cryptocurrency exchange. He stepped down as CEO in November 2023 after admitting guilt to money laundering charges in the U.S. Zhao was sentenced to four months imprisonment in April 2024, for his role in facilitating illicit activities on the exchange. He completed his sentence by September 2024. Zhao's case highlights the regulatory scrutiny and legal challenges faced by cryptocurrency businesses and their executives.

Sections (3)

Full Timeline Early Life & Education Career & Achievements

2005: Launch of Fusion Systems

In 2005, Zhao moved to Shanghai to launch his business career. He established his first technology startup company called Fusion Systems, which was known for its high-frequency trading platforms.

2013: First Heard of Bitcoin

In 2013, Zhao first heard of bitcoin while playing poker with Bobby Lee, who advised Zhao to invest in it. Zhao sold his apartment in Shanghai and invested all of his wealth in bitcoin.

2013: Blockchain.info and OKCoin Roles

In 2013, Zhao was a member of the team that developed Blockchain.info and he also served as Chief Technology Officer of OKCoin.

2015: Bitcoin Investment

In 2015, Zhao sold his Shanghai apartment and used the funds to purchase bitcoin.

July 2017: Binance Launch

In July 2017, the Binance cryptocurrency exchange was launched and raised $15 million in an initial coin offering.

April 2018: Binance becomes largest cryptocurrency exchange

By April 2018, less than eight months after its launch, Binance grew into the world's largest cryptocurrency exchange by trading volume.

April 2019: Launch of Binance Smart Chain

In April 2019, Binance launched Binance Smart Chain, which has smart contract functionality and is an Ethereum competitor.

2019: Launch of Binance.US

In 2019, Zhao launched Binance's U.S. affiliate, Binance.US.

July 2021: Stock Repurchase Transaction

In July 2021, Binance sold its stakes to FTX co-founder Sam Bankman-Fried.

2021: Binance Withdraws Singapore application

In 2021, Binance withdrew its application to run a Singapore-based crypto exchange.

2022: Investment in Twitter

In 2022, Zhao invested $500 million through Binance to finance the acquisition of Twitter by Elon Musk.

November 2023: Resignation as Binance CEO

In November 2023, Changpeng Zhao resigned as the CEO of Binance after pleading guilty to a money laundering charge in the United States.

April 7, 2024: Strategic Advisor Appointment

On April 7, 2024, Zhao was appointed by the Pakistan Ministry of Finance as a strategic advisor to the Pakistan Crypto Council to promote crypto and blockchain technology in the country.

April 2024: Sentenced to prison

In April 2024, Changpeng Zhao was sentenced to four months in prison after pleading guilty to a money laundering charge in the United States.

April 7, 2025: Strategic advisor Pakistan

On April 7, 2025, Zhao was appointed by Pakistan's Ministry of Finance as a strategic adviser to the Pakistan Crypto Council (PCC), a regulatory body to oversee and promote blockchain technology and digital assets within Pakistan.