Changpeng Zhao (born 1977), known as CZ, is a Chinese-born Canadian entrepreneur who co-founded the cryptocurrency exchange Binance in 2017 and led it as chief executive until November 2023. [1][3] In November 2023 he pleaded guilty in the United States to failing to maintain an effective anti-money-laundering programme and stepped down; he served a four-month sentence and was released in September 2024. [3][4][5] In October 2025 he received a full and unconditional pardon from President Donald Trump. [6] See United States v. Zhao and Pardon of Changpeng Zhao.
Since leaving the CEO role he has been associated with YZi Labs, Giggle Academy and, as a public commentator, with BNB Chain. [7][8][9]
Early life and education
According to Wikipedia, which in turn cites several media outlets, Zhao was born in Ganyu, Jiangsu. At the end of 1989, aged 12, he emigrated with his family to Canada and settled in Vancouver; he later studied computer science at McGill University. [1] [verification needed]
Early career
After graduating he moved to Tokyo, where he developed order-matching software for a Tokyo Stock Exchange contractor, and then worked at Bloomberg Tradebook for about four years. In 2005 he moved to Shanghai and founded Fusion Systems, a high-frequency-trading software company. He became interested in Bitcoin in 2013, joined Blockchain.info, and was briefly chief technology officer at OKCoin (less than a year). [1]
Founding of Binance
Binance was founded in July 2017 and raised about US$15 million in an initial coin offering. It was first based in China, then moved to Japan, Malta and elsewhere after Chinese regulators tightened rules, and it describes no official headquarters. [10] See Binance for the company's history.
Legal affairs
In November 2023 Zhao pleaded guilty to one count under the Bank Secrecy Act, resigned as CEO and agreed to a personal fine of US$50 million. [3][4][5] On 30 April 2024 a federal judge in Seattle sentenced him to four months in prison. [4][11] He was released on 27 September 2024. [5] A presidential pardon followed in October 2025. [6] Civil and regulatory matters are summarised in Legal affairs of Changpeng Zhao.
After stepping down
On 21 November 2023 Zhao posted that he had made mistakes and must take responsibility, and that he could not see himself as the CEO of a start-up again, describing himself as content to be a "one-shot (lucky) entrepreneur". [12] Richard Teng succeeded him as CEO. [12][3] In January 2025 Binance Labs was renamed YZi Labs, with Zhao taking a more active part in investing and mentoring. [7] In June 2026 he told CoinDesk and Bitcoin.com News that he did not intend to return as Binance CEO, adding that "anything could happen" in future. [13][14]
In October 2026 he attended the Nasdaq opening-bell ceremony for BNB Standard and commented on BNB Chain's role in artificial intelligence. [9][15] A memoir, Freedom of Money, was published in April 2026. [16]
Philanthropy and advisory roles
According to a 2021 report relayed by Wikipedia, Zhao said he intended to give away 90%–99% of his wealth; the original source was Brazilian media. [1] [verification needed] He has said that all royalties from his book go to Giggle Academy. [1]
Wikipedia also states that he has been an adviser to Pakistan's crypto council since April 2024 and, from May 2025, to the president of Kyrgyzstan; the original government or news sources have not yet been traced. [1] [verification needed] In June 2026 Bitcoin.com News reported that he advises about ten governments on crypto policy. [14]
Reception
Supporters and critics describe his career in sharply different terms; see Public reception of Changpeng Zhao, where each view is attributed.