Victor Ugochukwu · Dec 14, 2020 . 5min read
Binance CEO Changpeng Zhao bags the title of richest blockchain and crypto personality by Hurun China Rich List 2020
Binance CEO, Changpeng Zhao or CZ ranks 251st in the list of richest men of Chinese descent with a $2.6 billion valuation.
By Victor Ugochukwu · Oct 20, 2020 . 6min read
The mercurial Binance CEO, Changpeng Zhao, is not just a known crypto personality but also a billionaire who is now confirmed as the richest blockchain and crypto personality according to Hurn China Rich List 2020.
Hurun China is like the equivalent Forbes in terms of publishing a global list of the world’s wealthiest persons. In the latest release, Binance CEO, Changpeng Zhao or CZ ranks 251st in the list of richest men of Chinese descent with a $2.6 billion valuation.
Others who appeared in the list includes ousted Zhan Ketuan of Bitmain, a mining giant at $1.6 billion. Also, OKEx founder, Xu Mingxing, whom the Chinese Police recently arrested, made a list with a $1.4 billion valuation. Chris Larssen of Ripple at $1.3, Li Lin of Huobi at $1.1 billion and Brian Armstrong at $1 billion.
CZ, before venturing into blockchain and cryptocurrencies worked in Wall Street with Bloomberg’s Tradebook where he developed software for futures trading. With multiple promotions due to his extraordinary coding abilities, CZ moved back to his home country in 2005, Shanghai China Fusion Systems. That company had the reputation of building ultra-fast, high-frequency system for stockbrokers.
It wasn’t until 2013 that he ever heard of Bitcoin and got involved in first as a wallet team member with Blockchain.Info and then with OKCoin. CZ then went ahead to establish Binance, what has become the largest cryptocurrency exchange by daily trade volume in 2017. With an ICO, Binance raised $15 million and the rest we know today is history.
CZ, as Binance CEO, flourished the exchange into a giant ecosystem.
Binance under CZ has morphed into a giant corporation with a super broad ecosystem. It acquired some of the biggest firms within the cryptocurrencies space and beyond. Some of its most significant acquisitions include an alleged $400 million Coinmarketcap acquisition and then Swipe. Still under CZ’s leadership as the CEO of Binance has released its own smart-contract enabled chain – Binance Smart Chain. This has also continued to gain traction in terms of projects coming on board.
Binance CEO continues his success story and has said he intends decentralizing the Binance ecosystem even further. Unlike Coinbase which Reuters has reported is planning a possible IPO, CZ plans an alternate route.
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