History of Changpeng Zhao in Timeline

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

1977: Birth

In 1977, Changpeng Zhao was born in China.

1977: Birth of Changpeng Zhao

In 1977, Changpeng Zhao, also known as CZ, was born in China. He would later become the co-founder and CEO of Binance.

1989: Migration to Canada

In 1989, Zhao acquired a Canadian visa and left China after the events of Tiananmen Square.

1992: Citizenship

Around 1992, Zhao acquired Canadian citizenship.

1999: Meeting Wife Yang Weiqing

In 1999, Zhao met his wife, Yang Weiqing.

2003: Marriage to Yang Weiqing

In 2003, Zhao married Yang Weiqing.

2005: Divorce

Around 2005, Zhao divorced Yang Weiqing when their eldest daughter was two years old.

2005: Return to China

In 2005, Zhao moved back to China and eventually owned an apartment in Shanghai.

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.

2014: Relationship with Yi He

Since 2014, Zhao has been in a "life partner" relationship with his business partner and fellow Binance co-founder, Yi He.

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.

2017: Departure from China

In late 2017, Zhao left China after the Chinese government banned crypto exchanges.

February 2018: Forbes Ranking

In February 2018, Forbes placed Zhao third on their list of "The Richest People In Cryptocurrency," with an estimated net worth of $1.1-2 billion.

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.

April 6, 2021: Liquid net worth in crypto

On April 6, 2021, Zhao told Bloomberg Markets that nearly 100% of his liquid net worth was in the form of cryptocurrency.

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.

2021: Political Beliefs

In 2021, Zhao stated in Singapore, "I am not a complete libertarian, I'm not an anarchist... I don't believe human civilization is advanced enough to live in a world with no rules."

2022: Citizenship Confirmation

In 2022, Zhao confirmed that he had acquired Canadian citizenship approximately 30 years prior, around 1992.

2022: Investment in Twitter

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

March 27, 2023: CFTC Lawsuit

On March 27, 2023, the Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance and Zhao in the United States District Court for the Northern District of Illinois, alleging willful evasion of US law and breaching derivatives rules.

June 2023: SEC Lawsuit

In June 2023, the U.S. Securities and Exchange Commission (SEC) sued Zhao and Binance on 13 charges for alleged violations of US securities rules.

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.

September 27, 2024: Release from Custody

According to records, Zhao was released from custody on September 27, 2024.

November 2024: FTX Lawsuit

In November 2024, FTX filed a lawsuit against Binance Holdings Ltd., Zhao, and other Binance executives, seeking to recover nearly $1.8 billion that FTX alleges was fraudulently transferred.

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.