How did CZ build his Net Worth?
Born in Jiangsu, China in 1968, CZ moved to Vancouver, Canada with his family at the age of 13. He studied computer science at McGill University and later worked as a software developer for Tokyo Stock Exchange, Bloomberg Tradebook, and on the futures desk at Deutsche Bank. In 2005, he co-founded Fusion Systems, a high-frequency trading software provider for brokers.
In 2013, CZ became interested in Bitcoin and blockchain technology. He founded Binance in 2017, and the exchange has since grown to become the largest cryptocurrency exchange in the world. CZ's net worth is primarily derived from his ownership stake in Binance, which is estimated to be worth $15 billion.
How much is Binance Worth?
Since the collapse of FTX and Sam Bankman-Fried, CZ has started to publish proof-of-reserves which highlights how much Binance has in their cold wallets. The top 6 balances for their largest holdings is as follows and holds over $69B in value:
- Bitcoin (BTC): 475,000
- Ethereum (ETH): 4,800,000
- USDT (USDT): 17,600,000,000
- BUSD (BUSD): 21,700,000,000
- USDC (USDC): 601,000,000
- Binance Coin (BNB): 58,000,000
You can read more information about their full proof-of-reserves here.
CZ Binance Philanthropy
In addition to his work with Binance, CZ is an active angel investor and has made investments in a number of blockchain and cryptocurrency startups. He is also a founding partner of the Blockchain Charity Foundation, a non-profit organization that uses blockchain technology to promote social good.
In addition to his work with the Blockchain Charity Foundation, CZ has also donated $5 million to relief efforts in his hometown of Wuhan, China during the COVID-19 pandemic. He has also pledged to donate 99% of his Binance trading fees to charity over the next five years.
CZ Binance Twitter
CZ Binance is very active on his Twitter account and regularly posts updates on the status of the Company and his philanthropic endeavors. If you want to keep up to date with Changpeng Zhao, we recommend you follow him on that channel.