Early Life of Changpeng Zhao
CZ was born in Jiangsu, China, in 1977. His family emigrated to Vancouver, Canada, in the late 1980s when he was only 12 years old. His father, a professor, sought better educational opportunities for the family, and Canada offered the chance for a fresh start.
Growing up in Canada, CZ attended McGill University in Montreal, where he graduated with a degree in computer science in the late 1990s. His time in Canada played a pivotal role in shaping his worldview and understanding of diverse cultures. As a result, CZ has always considered himself more Canadian than Chinese, often stating that his upbringing in Canada has greatly influenced his personal values and professional approach.
Early Career
After completing his education, CZ began working at various tech companies in both Canada and the United States. He worked for the Tokyo Stock Exchange, where he focused on developing trading systems. Later, he joined Bloomberg Tradebook Futures as Head of Tradebook Futures Development, further honing his skills in trading systems and finance.
In 2005, CZ moved to Shanghai to start Fusion Systems, a company specializing in high-frequency trading systems for brokers. It was during his time in China that CZ became increasingly interested in blockchain technology and cryptocurrencies. In 2013, he joined Blockchain.info as Head of Development and served as the CTO at OKCoin, a prominent Chinese cryptocurrency exchange.
Founding of Binance
CZ's passion for cryptocurrencies and his experience in both traditional finance and the emerging blockchain industry culminated in the founding of Binance in July 2017. Initially, the company was headquartered in China, but due to regulatory pressures, it relocated to Japan and later established its headquarters in Malta, known for its favorable cryptocurrency regulations.
Binance's meteoric rise can be attributed to CZ's innovative approach, combining his vast experience in trading systems with a deep understanding of the cryptocurrency landscape. The platform quickly gained traction due to its user-friendly interface, low trading fees, and extensive selection of cryptocurrencies. Binance introduced its native cryptocurrency, Binance Coin (BNB), which played a crucial role in the exchange's success, as it allowed users to receive trading fee discounts and participate in initial exchange offerings (IEOs).
Though CZ's roots are undeniably Chinese, it is his Canadian upbringing and education that have played a significant role in shaping his values, business ethics, and innovative mindset. His early life in Canada, combined with his experience in traditional finance and the cryptocurrency industry, laid the foundation for the creation of Binance. Today, CZ is a globally renowned entrepreneur, and his exchange, Binance, continues to be a dominant force in the world of cryptocurrencies.
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Article written by HODL