Who Is the Founder of Anbi (Binance)? The Legendary Story of CZ Changpeng Zhao

Who Is the Founder of Anbi?

"Anbi" is another name many people use for Binance. The founder of Binance is Changpeng Zhao, known in the crypto community simply as CZ. He is a Chinese-Canadian and one of the most influential figures in the cryptocurrency industry.

Want to experience the world's largest cryptocurrency exchange that CZ built? You can register a Binance account to start exploring, and don't forget to download the Binance APP for easy access on the go.

CZ's Early Life

Changpeng Zhao was born in Jiangsu Province, China, and immigrated to Vancouver, Canada with his family at the age of 12. Growing up in Canada, he attended McGill University in Montreal, majoring in Computer Science.

After graduation, CZ gained extensive experience in financial technology. He developed trade matching systems for the Tokyo Stock Exchange and served as a technology leader at Bloomberg. These experiences laid a solid technical foundation for his later creation of Binance.

The Bitcoin Encounter

In 2013, CZ first heard about Bitcoin from a poker buddy. After diving deep into research, he sold his apartment in Shanghai and went all-in on Bitcoin. This decision, which seemed extremely risky at the time, later proved to be incredibly wise.

CZ then joined the blockchain company Blockchain.info as CTO, followed by a stint as CTO at the cryptocurrency exchange OKCoin, accumulating rich experience in exchange operations.

The Birth of Binance

2017: Where It All Began

In July 2017, CZ and co-founder Yi He launched Binance together. Binance raised approximately $15 million in startup funding through an ICO, issuing the platform token BNB.

Within just six months of going live, Binance became the world's largest cryptocurrency exchange by trading volume. This speed was virtually unprecedented in fintech history.

Key Success Factors

Several core reasons drove Binance's rapid rise:

Technical Advantage: CZ's tech background gave Binance a trading engine that far outperformed competitors, capable of processing 1.4 million orders per second with virtually no downtime.

Low Fees: Binance's trading fees were among the lowest in the industry at the time, with additional discounts for paying with BNB.

Fast Listings: Binance listed new tokens much faster than other exchanges, and many popular projects prioritized launching on Binance.

Global Strategy: From day one, Binance positioned itself as a global platform, supporting multiple languages and currencies rather than being limited to a single market.

CZ's Management Philosophy

"Decentralized" Company Operations

CZ managed Binance in a unique way. For a long time, Binance had no fixed headquarters, with employees distributed around the world working remotely. CZ himself frequently traveled between different countries.

User-First Approach

CZ regularly interacted with users on social media, amassing millions of followers on Twitter (now X). His catchphrase "SAFU" (meaning "funds are safe") became a classic meme in the crypto world.

Binance Milestones

• 2017: Binance founded; became the world's largest exchange within six months
• 2019: Launched Binance Smart Chain (BSC), entering the DeFi space
• 2020: Acquired CoinMarketCap, solidifying its industry position
• 2022: Global registered users surpassed 120 million
• 2023: CZ pleaded guilty to compliance issues in the US and resigned as CEO
• 2024: CZ completed his sentence; Richard Teng took over as CEO

CZ Today

In late 2023, CZ reached a settlement agreement with the US Department of Justice over Binance's compliance issues, pleading guilty and stepping down as CEO. He was sentenced to four months in prison and completed his sentence in 2024.

Although no longer CEO, CZ remains Binance's largest shareholder and continues to have significant influence over the company's direction. After stepping down, CZ has focused more of his energy on education and investment.

Binance Today

Under new CEO Richard Teng's leadership, Binance continues to maintain its position as the world's largest cryptocurrency exchange. The platform has made significant compliance improvements, obtaining operating licenses in multiple countries and regions worldwide.

Binance currently offers spot trading, futures trading, financial products, an NFT marketplace, a Web3 wallet, and other diversified services, with its ecosystem continually expanding.

Conclusion

From a computer science student who immigrated as a child to the legendary founder of the world's largest cryptocurrency exchange, Changpeng Zhao's story is itself a microcosm of the rapid development of the cryptocurrency industry. Whether or not you agree with all of his decisions, his enormous contribution to the entire industry is undeniable.