Changpeng Zhao: The Man Who Risked It All for Crypto

In the volatile world of cryptocurrency, few stories are as bold—and as inspiring—as that of Changpeng Zhao, famously known as CZ. In 2013, he did something most would consider reckless: he sold his Shanghai apartment and went all-in on Bitcoin. It was a massive gamble. Bitcoin soon crashed by 70%, and CZ saw nearly $700,000 of his hard-earned money vanish.

But CZ wasn’t driven by hype. He was powered by belief—belief in blockchain, in decentralization, and in the future of finance. A former developer with stints at Bloomberg and Blockchain.info, CZ had a technical grasp of crypto that most lacked. So, while others fled the market during downturns, CZ dug deeper.

In 2017, just four years after his risky all-in bet, CZ launched Binance. Within months, Binance skyrocketed to the top of the crypto exchange world, thanks to its low fees, massive coin selection, and lightning-fast trades. By 2018, Binance was handling over $1 billion in daily trading volume.

What made CZ’s rise even more impressive was his relentless work ethic. Known for sleeping in his office and responding to user issues himself, he prioritized transparency and community. He turned Binance into more than a platform—it became a movement.

Of course, CZ’s journey wasn’t without hurdles. Regulatory scrutiny, global exchange bans, and the ever-shifting crypto landscape challenged Binance’s operations. Yet through it all, CZ adapted. His global strategy—setting up decentralized offices and hiring internationally—allowed Binance to thrive.

Today, Changpeng Zhao is one of the most influential figures in crypto. His story isn't just about making billions. It’s about the courage to bet on an idea, the grit to stay in the game when it all goes wrong, and the vision to build a platform that revolutionized finance.