Rags to Riches Changpeng Zhao (CZ) as Top Bitcoin Millionaire
In March 2025, President Donald Trump announced the creation of the Crypto Strategic Reserve — a groundbreaking move by the U.S. government to include Bitcoin (BTC), Ethereum (ETH), Solana (SOL), Cardano (ADA), and XRP as part of its official digital asset holdings, signaling a bold step toward financial innovation and national blockchain strategy.
Changpeng Zhao (CZ) as Top Bitcoin Millionaire
Changpeng Zhao, widely known as CZ, is a Chinese-Canadian entrepreneur who founded Binance, the world’s largest cryptocurrency exchange by trading volume. Born in Jiangsu, China, in 1977, Zhao moved to Canada in the late 1980s. He studied computer science at McGill University and began his career developing trading systems for the Tokyo Stock Exchange and Bloomberg Tradebook. In 2017, he launched Binance, which rapidly grew to dominate the crypto exchange market. However, in November 2023, Zhao stepped down as CEO after pleading guilty to violating U.S. anti-money laundering laws, resulting in a four-month prison sentence and a $50 million fine. Despite these legal challenges, Zhao remains a significant figure in the cryptocurrency industry.
In the fast-paced world of cryptocurrencies, one name continues to shine as a symbol of determination, risk-taking, and unparalleled success — Changpeng Zhao, popularly known as CZ.
From flipping burgers in Canada to founding Binance, the world’s largest cryptocurrency exchange, CZ’s net worth in 2025 stands at an eye-popping $65.6 billion, making him one of the top Bitcoin millionaires globally.
Let’s take a deep dive into his journey, biography, family, education, and how you can draw inspiration from his path.
Early Life: Humble Beginnings in China
Born in 1977 in Lianyungang, Jiangsu, China, Changpeng Zhao came from a modest family. His parents were educators. His father, a university professor, was labeled a “pro-bourgeois intellectual” and exiled to rural China. This marked the beginning of the Zhao family’s uphill climb.
In the late 1980s, when CZ was just 12, the family migrated to Vancouver, Canada, in search of a better life. It wasn’t easy — the Zhaos faced financial hardships, and CZ worked at McDonald’s and a local gas station to help make ends meet.
Education: From Code to Crypto
CZ showed academic promise early on. He enrolled at McGill University in Montreal, where he majored in computer science. His technical background laid the perfect foundation for his future in financial tech.
After graduation, he landed a job in Tokyo, working for a subcontractor of the Tokyo Stock Exchange, where he developed software for high-speed trade matching. Later, he joined Bloomberg Tradebook as a developer for futures trading.
Career Shift: Entering the Crypto World
The pivotal moment came in 2013, during a poker game with Bobby Lee (co-founder of BTCC) and Ron Cao. That night, CZ learned about Bitcoin and was told to invest 10% of his net worth in it. Boldly, CZ went all in — he sold his Shanghai apartment and invested everything into Bitcoin.
Soon after, he joined Blockchain.info as head of development and then moved to OKCoin as CTO.
Founding Binance: The Turning Point
In 2017, CZ founded Binance, launching it through an initial coin offering (ICO) that raised $15 million. The platform started with the idea of being a crypto exchange with low fees, fast processing, and a wide variety of tokens.
In less than eight months, Binance became the largest crypto exchange in the world by trading volume. The company also launched Binance Coin (BNB), a utility token that offers trading discounts and more.
BNB’s growth paralleled Binance’s rise, turning it into one of the most valuable digital assets in the ecosystem.
Net Worth and Wealth: Top Bitcoin Millionaire in 2025
As of May 2025, Forbes estimates Changpeng Zhao’s net worth at a staggering $65.6 billion, making him the second-richest Canadian and one of the top crypto billionaires globally.
Much of this wealth comes from his ownership stake in Binance and his holdings of Bitcoin and BNB.
Legal Setbacks: A Billionaire’s Reality Check
No success story is complete without setbacks. In 2023, CZ faced legal action in the U.S. over anti-money laundering violations. He stepped down as CEO in November 2023 and was sentenced to four months in prison in April 2024. Despite this, his influence in the crypto world remains strong.
He now serves as a strategic advisor to organizations like the Pakistan Crypto Council (PCC) and helps governments understand and adopt blockchain technology.
Family Life and Personal Side
CZ is married to Yang Weiqing, with whom he has two children. He is also in a long-term partnership with He Yi, co-founder of Binance. Together, they have three more children.
He currently resides in Dubai, enjoying life as both a family man and a global crypto ambassador.
CZ’s Views on Bitcoin and Crypto
In his own words, “Bitcoin is easy — just don’t panic sell.” He’s a strong advocate for decentralization, financial freedom, and self-custody of assets.
“Investing in crypto is risky. Not investing in crypto is also risky.”
His mantra? Educate yourself before jumping in.
Step-by-Step: How to Follow in CZ’s Footsteps
If you’re inspired by CZ’s journey, here’s a simple guide to get started in the crypto world:
1. Educate Yourself
- Read about Bitcoin, blockchain, and cryptocurrency basics.
- Follow credible sources like CoinDesk or Binance Academy.
2. Start Small
- Open an account on a trusted exchange like Binance.
- Start with small investments — maybe just $10 or $50.
3. Learn to Store Crypto Safely
- Use a hardware wallet for large holdings.
- Avoid storing crypto on exchanges long-term.
4. Diversify and Stay Informed
- Don’t just hold Bitcoin — explore Ethereum, BNB, and other major tokens.
- Stay updated with news and regulations.
5. Be Patient and Avoid Panic Selling
- Crypto markets are volatile.
- Long-term thinking always wins.
Philanthropy and Giving Back
Following the footsteps of leaders like Bill Gates and Warren Buffett, CZ has pledged to donate up to 99% of his wealth to charitable causes. He supports education, global health, and blockchain for good initiatives.
Early Life and Education
Changpeng Zhao was born in Lianyungang, Jiangsu, China. In the late 1980s, his family emigrated to Canada, settling in Vancouver. His parents were educators; his father was a university instructor who faced political persecution in China. To support his family, Zhao worked various service jobs during his teenage years, including at McDonald’s and a gas station. He later attended McGill University in Montreal, where he majored in computer science.
Career Beginnings
After graduating, Zhao interned in Tokyo, developing software for the Tokyo Stock Exchange. He then worked at Bloomberg Tradebook for four years, focusing on futures trading software. In 2005, he founded Fusion Systems in Shanghai, creating high-frequency trading systems for brokers.
Entry into Cryptocurrency
Zhao’s interest in cryptocurrency began in 2013 when he learned about Bitcoin. He joined Blockchain.info as a developer and later served as CTO of OKCoin. In 2017, he founded Binance, raising $15 million through an initial coin offering. Within eight months, Binance became the world’s largest cryptocurrency exchange by trading volume. Zhao also introduced Binance Coin (BNB), offering users trading fee discounts and other benefits.
Legal Challenges
In 2023, Zhao and Binance faced legal scrutiny from U.S. authorities. The Commodity Futures Trading Commission (CFTC) and the Securities and Exchange Commission (SEC) filed lawsuits alleging regulatory violations. In November 2023, Zhao pleaded guilty to violating the Bank Secrecy Act by failing to implement an effective anti-money laundering program at Binance. He resigned as CEO and was sentenced to four months in prison in April 2024. Binance agreed to pay over $4 billion in fines as part of the settlement.
Recent Developments
Despite his legal issues, Zhao remains active in the cryptocurrency space. In April 2025, he was appointed as a strategic adviser to Pakistan’s Ministry of Finance for the Pakistan Crypto Council. In May 2025, he became an adviser to the President of Kyrgyzstan on digital asset development. Zhao has expressed intentions to donate a significant portion of his wealth to philanthropic causes.
Final Thoughts: From McDonald’s to Millions
Changpeng Zhao’s journey from a modest upbringing to becoming a leading figure in the cryptocurrency industry is marked by innovation, rapid success, and significant challenges. His story reflects both the potential and the complexities of the evolving digital finance landscape.
Changpeng Zhao is more than just a crypto billionaire. He is a symbol of how perseverance, risk-taking, and a thirst for knowledge can turn the most humble beginnings into global success.
Whether you’re a crypto enthusiast, a curious beginner, or someone looking for motivation — CZ’s life is a masterclass in believing big and acting bold.
Invest in yourself. Take risks. Learn daily. The world of crypto is just getting started.
Recommended Resources:
- How to Buy Bitcoin on Binance
- Changpeng Zhao on Forbes
- Binance Official Website
- Understanding Blockchain Technology
- Bitcoin Whitepaper
How to Buy Bitcoin on Binance
What it is:
This is Binance’s official guide that teaches you how to purchase Bitcoin (BTC) through their platform.
Step-by-Step Breakdown:
- Create a Binance Account
- Go to binance.com.
- Click on “Register.”
- Fill in your email, password, and verify your account.
- Complete KYC (Know Your Customer)
- Upload a photo ID (like a passport or driver’s license).
- Take a selfie to confirm your identity.
- Verification usually takes a few minutes to a few hours.
- Deposit Funds
- Use a credit/debit card, bank transfer, or P2P trading.
- You can deposit in your local currency (like USD, EUR, PKR, etc.).
- Buy Bitcoin
- Go to “Buy Crypto” > “Credit/Debit Card.”
- Select Bitcoin (BTC) and enter the amount.
- Confirm and complete the purchase.
✅ Pro Tip: Start with a small amount and use 2FA (Two-Factor Authentication) for account security.
👨💼 2. Changpeng Zhao on Forbes
What it is:
This is Forbes’ official profile on Changpeng Zhao (CZ), offering insights into his:
- Net worth (currently around $65.6 billion in 2025)
- Career as the founder of Binance
- Major financial milestones
- Place on Forbes’ billionaire rankings
Why it matters:
- Shows how CZ rose from humble beginnings to crypto royalty
- Highlights Binance’s impact on global crypto markets
- Useful for tracking CZ’s business moves, investments, and influence
🏢 3. Binance Official Website
What it is:
The homepage and hub of all Binance services.
What you can do there:
- Trade Cryptocurrencies (Bitcoin, Ethereum, BNB, etc.)
- Staking & Earn: Earn interest by holding coins
- Binance Academy: Free crypto education
- Launchpad: Get in early on new crypto projects
- NFT Marketplace: Buy/sell digital art and collectibles
- Wallet Services: Securely store your digital assets
Security Features:
- Two-Factor Authentication (2FA)
- Anti-phishing codes
- Cold wallets for most of users’ assets
✅ Recommended for both beginners and expert traders.
🧱 4. Understanding Blockchain Technology
What it is:
A beginner-friendly article by IBM that explains blockchain — the underlying tech behind Bitcoin and other cryptocurrencies.
Key Concepts Covered:
- What is blockchain: A distributed ledger that records transactions across many computers.
- How it works: Uses blocks and cryptographic hashing.
- Why it’s secure: Data is immutable once written.
- Use Cases: Beyond crypto — supply chains, healthcare, voting systems, etc.
Why it matters:
To understand Bitcoin, Ethereum, or Web3, you must first understand blockchain.
📜 5. Bitcoin Whitepaper
What it is:
This is the original document written by Satoshi Nakamoto in 2008, which introduced the concept of Bitcoin.
What’s inside:
- The theory behind peer-to-peer electronic cash
- How blockchain, proof-of-work, and mining work
- Why Bitcoin eliminates the need for banks in online payments
Who should read it:
- Crypto enthusiasts who want to go deeper than YouTube
- Developers interested in how the tech works
- Anyone curious about the original idea behind digital money
✅ Don’t worry — it’s only 9 pages long and surprisingly readable if you break it down slowly.
Social Media Presence
CZ maintains an active presence on various social media platforms, where he shares insights, updates, and engages with the crypto community:
- X (formerly Twitter): @cz_binance
- Instagram: @changpengzhao
- LinkedIn: Changpeng ZhaoLinkedIn+2LinkedIn+2LinkedIn+2
Through these platforms, CZ discusses topics ranging from cryptocurrency trends to security tips, and he often addresses concerns and developments related to Binance and the broader crypto market.
If you’re interested in learning more about Changpeng Zhao’s journey, achievements, and contributions to the cryptocurrency industry, feel free to ask!
Frequently Asked QUests (FAQ)
What is the most profitable crypto strategy?
The most reliable and profitable strategy is HODLing, which means holding onto high-quality cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH) over a long period. This approach has historically delivered strong returns, especially through bull markets. Other strategies include:
- Dollar-Cost Averaging (DCA): Investing fixed amounts regularly regardless of price
- Staking: Earning passive income by locking coins to support blockchain networks
- Yield farming and liquidity mining: Providing liquidity on DeFi platforms to earn rewards
- Swing trading: Buying low and selling high over short to mid-term periods (higher risk)
Which crypto makes you a millionaire?
Historically, these cryptocurrencies have created the most millionaires:
- Bitcoin (BTC) – Early adopters who held through price increases
- Ethereum (ETH) – Pioneers in DeFi and smart contracts
- Binance Coin (BNB) – Grew alongside Binance’s success
- Dogecoin (DOGE) and Shiba Inu (SHIB) – Meme coins with viral momentum
In 2025, coins in AI, gaming, and Web3 infrastructure sectors are also showing strong potential.
Who is the richest crypto trader?
Changpeng Zhao (CZ), the founder and former CEO of Binance, is widely regarded as the richest individual in the crypto space, with a net worth estimated at over $65 billion as of 2025.
Who is the 12-year-old crypto millionaire?
A few young prodigies have gained media attention, including Kiran Varanasi, who reportedly earned millions from early investments in NFTs and tokens. While inspiring, these cases are rare and often involve family or mentorship support.
Who is crypto daddy?
The term “crypto daddy” is a nickname sometimes applied to influential figures in the crypto industry. It is most commonly associated with:
- Changpeng Zhao (CZ) – Due to his influence and leadership at Binance
- Elon Musk – Because of his impact on meme coins like Dogecoin
Which crypto will boom in 2025?
Analysts and experts point to these cryptocurrencies as potential breakout performers:
- Ethereum (ETH) – Ongoing upgrades and DeFi dominance
- Solana (SOL) – Fast and scalable for DeFi and NFTs
- Polygon (MATIC) – A key Layer-2 solution for Ethereum
- AI-focused tokens and Web3 infrastructure projects
Which coin can go 1000x?
While extremely rare, small-cap altcoins in early stages of development or niche sectors like decentralized AI, real-world asset tokenization, or gaming could theoretically 1000x. However, they also carry significant risk and volatility.
Does Elon Musk have cryptocurrency?
Yes, Elon Musk has publicly confirmed that he personally owns Bitcoin, Ethereum, and Dogecoin. His companies, including Tesla, have also held Bitcoin in their corporate reserves.
Which crypto will 100x in 5 years?
Speculative altcoins with strong teams and utility in sectors like Web3, AI, and finance automation have this potential. Examples include some lesser-known Layer-1 and Layer-2 projects, but thorough research is essential.
What meme coin will 1000x?
The meme coin space is highly speculative. While coins like Pepe, Floki, or new launches can gain massive traction in bull markets, most do not sustain long-term value. Timing and community hype play critical roles.
Which coin is next Bitcoin?
No coin is likely to replace Bitcoin in terms of its role as a store of value. However, Ethereum leads in utility and smart contract capabilities. Other contenders in terms of innovation include Solana, Avalanche, and Polkadot.
Which cheap crypto to buy today?
Affordable but high-potential tokens include:
- Polygon (MATIC)
- Cardano (ADA)
- VeChain (VET)
- The Graph (GRT)
- Algorand (ALGO)
These offer lower price per coin but still depend on broader market movements and development progress.
What are the top 10 altcoins?
Based on adoption, technology, and market cap, the current top altcoins include:
- Ethereum (ETH)
- Binance Coin (BNB)
- Solana (SOL)
- Cardano (ADA)
- XRP (Ripple)
- Avalanche (AVAX)
- Polkadot (DOT)
- Chainlink (LINK)
- Polygon (MATIC)
- Dogecoin (DOGE)
Which crypto will boom in the future?
Sectors expected to boom include:
- Decentralized AI platforms
- Real-world asset tokenization
- Web3 and Layer-2 scalability
- Green/eco-friendly blockchains
Who owns Bitcoin?
Bitcoin is decentralized, so no single entity owns it. However:
- Early adopters hold a significant share
- Satoshi Nakamoto, the anonymous creator, is believed to own over 1 million BTC
- Institutional investors like MicroStrategy and Tesla hold large amounts
