Chengpeng Zhao, or CZ for short, is the man behind the world’s largest cryptocurrency exchange by volume. This endeavor has made Chengpeng Zhao one of the wealthiest figures in the cryptocurrency space, with a net worth clearing over ten billion dollars.
The Chinese-born Canadien was exiled from China with his family at a young age, moving to Vancouver. As a teenager, CZ worked at McDonalds to help with the family bills. Just last year Chengpeng’s cryptocurrency exchange handled almost ten trillion dollars in trading volume, or well over half of all cryptocurrency trading volume.
CZ Early Years (Pre-Binance)
After graduating from McGill University, Chengpeng Zhao began his work in the finance world for Bloomberg. Acting as the Head of Tradebook Futures Development for four years, CZ began to make a name for himself. Afterward, CZ began his entrepreneurial journey in fintech founding Fusion Systems.
CZ served as the Head of Development at Blockchain.com after leaving Fusion. This was only a short stint as CZ soon left to be the Chief Technology Officer at Okcoin. After helping to launch a Bitcoin futures trading platform, he founded BijieTech, an exchange systems provider. This was yet another short exploration before Binance came to be in 2017.
Chengpeng Zhao Launches Binance Crypto Exchange
Binance Cryptocurrency exchange was one of the first platforms to offer seamless trading and access to cryptocurrencies, worldwide. Binance has grown into one of the biggest players in the entire cryptocurrency space, leading the way for others.
In terms of trading volume, the only exchange that comes anywhere close to Binance is Coinbase. Binance is responsible for facilitating a majority of cryptocurrency transitions that are happening at any given time. The company has moved more than once, but is now located in the Caymen Islands. This keeps the company largely safe from the US, Chinese and other regulators.
Being located outside the US, is one of the biggest advantage Binance has over Coinbase. With over 600 cryptocurrencies, Binance offers one of the widest varieties of tokens of any markets. Chengpeng Zhao’s exchange offers a seamless interface and simple design, and it’s reputation speaks for itself.
Binance Smart Chain (BSC) by CZ
Binance encompasses the Binance Smart Chain, a layer one blockchain and even Binance NFTs. The Binance Smart Chain is a layer one chain rivaling Ethereum. BSC contains much of the same capabilities as ETH like creating tokens (BEP-20 tokens), building dApps or creating services from DeFi to NFT gaming.
Chenpeng Zhao (CZ) has pioneered the blockchain space for the past decade and has graced the industry with his own innovative products. Recently announcing a new partnership with Mastercard to bring cryptocurrencies to merchants around the globe, Binance will only continue to grow.