Changpeng Zhao (2024)

FAQs

How did Changpeng Zhao make money? ›

Changpeng Zhao, who goes by CZ, is the founder and former CEO of Binance, the largest cryptocurrency exchange in the world. The Chinese-Canadian coder cut his teeth building high-frequency trading systems for Wall Street's flash boys.

According to Bloomberg Billionaires Index, Zhao was ranked the 69th-richest person in the world, and richest Canadian overall, with a net worth estimated at $37.3 billion as of May 2024.

Changpeng Zhao, the billionaire founder of Binance, the world's largest cryptocurrency exchange, has been sentenced to prison. According to CNBC, Zhao is currently incarcerated in Lompoc, California. This news was confirmed by his defense team at Latham & Watkins.

In April, a federal judge sentenced CZ to four months in prison – a much shorter sentence than the three years federal prosecutors requested, but more than other crypto executives like former BitMex CEO Arthur Hayes received for the same crime.

This techie is the world's richest prisoner, with a net worth of $43 billion. Binance founder Changpeng Zhao sentenced to 4 months for failing to prevent cybercriminals. Guilty of US laws violations. Assets remain untouched.

Zhao was sentenced to four months in prison in April after pleading guilty to charges of enabling money laundering at his crypto exchange.

So, who are the top holders of BTC? According to the Bitcoin research and analysis firm River Intelligence, Satoshi Nakamoto, the anonymous creator behind Bitcoin, is listed as the top BTC holder as of 2024. The company notes that Satoshi Nakamoto holds about 1.1m BTC tokens in about 22,000 different addresses.

Changpeng Zhao (Estimated $15 Billion Net Worth): Changpeng Zhao, commonly known as CZ, is a Chinese-Canadian entrepreneur and the founder and CEO of Binance, the world's largest cryptocurrency exchange by trading volume.

A federal judge on Tuesday sentenced former Binance CEO Changpeng Zhao to four months in prison for failing to wall off the world's largest digital asset exchange from money launderers, allowing it to become a hub for illicit finance.

In addition to tax evasion, Nigerian authorities have accused Binance and its two executives, Tigran Gambaryan and Nadeem Anjarwalla, of money laundering. Tigran Gambaryan is a US citizen and head of Binance financial crimes compliance.

Who is the richest cryptocurrency owner? ›

For the third year running, Changpeng Zhao, founder and former CEO of crypto exchange Binance, is crypto's wealthiest person. Despite pleading guilty to U.S. money laundering charges in November, CZ, as he's known, is now worth an estimated $33 billion, up from $10.5 billion last year.

The government was in a weak position as it sought to impose an above-guidelines sentence because Zhao had pled guilty only to failing to set up an adequate anti-money-laundering program at Binance, rather than to money laundering itself or other more serious crimes.

60.4 billion USD (2024)

Changpeng Zhao / Net worth

On 11 February 2021 the European company announced the acquisition of the Colt Holding Company (the parent company to the Colt's Manufacturing Company from the US) for $220 million, enabling further expansion into the U.S. market.