Who is Cz and Why Does He Claim Kevin Oleary is a Liar?

Who is Cz and Why Does He Claim Kevin Oleary is a Liar? Please read here for all the latest updates on it. CZ refers to Changpeng Zhao, a successful Chinese-Canadian businessman. His Chinese name is Zhao Changpeng. In July 2022, Zhao’s company, Binance had the highest trading volume of any cryptocurrency exchange in the world, making Zhao its co-founder and CEO.

After CZ’s birth in Jiangsu, China, he and his family emigrated to Canada. At the moment, he calls Singapore home. As of December 2022, Zhao’s net worth was estimated at $13.1 billion, placing him in the top 136 of the Bloomberg Billionaires.

In response to Kevin O’Leary’s criticism of Binance, CZ labels him a “liar”

Binance’s CEO told that Kevin O’Leary is making ridiculous claims. Changpeng Zhao, CEO and co-founder of Binance, called Canadian investor and businessman Kevin O’Leary “a liar”. O’Leary claimed that Binance deliberately put FTX out of business to gain a global monopoly during testimony before the Senate Banking Committee on December 14.

O’Leary mentioned that when Sam Bankman-Fried bought out Binance’s shares in FTX, some of the FTX funds were transferred to Binance. Binance’s CEO responded to O’Leary’s accusations by expressing surprise at the investor’s tone.

Who is Cz and His Early Life?

Zhao was born in Jiangsu, a province in eastern China. When he was 12 years old, he and his family relocated to Vancouver, British Columbia, Canada. Both of his parents worked as educators in China. Before Zhao was born, his father was a professor at a university, but he was labeled a “pro-bourgeois intellect” and banished to the countryside.

Zhao worked at McDonald’s and other fast-food restaurants during his teenage years to help support his family. Zhao studied computer science at McGill University in Montreal, Quebec.

Who is Cz?
Who is Cz?

How Did Cz Expand Binance To Cryptocurrency?

After finishing his degree, Zhao interned in Tokyo for a company that was a subcontractor of the Tokyo Stock Exchange. There, he worked on software that matched trade orders. After that, for four years, he was a software developer at Bloomberg Tradebook, specializing in futures trading.

After relocating to Shanghai in 2005, he established Fusion Systems which has since become known for developing some of the fastest high-frequency trading systems for brokers. In 2013, he worked as the Chief Technology Officer of OKCoin. Trading on Binance began eleven days after the exchange’s launch in July 2017 following a successful initial coin offering that brought in $15 million.

Within eight months, Zhao expanded Binance to become the largest cryptocurrency exchange in the world as of April 2018. In 2017, Zhao also introduced Binance Coin, a utility token that provides its holders with various benefits, including reduced trading fees. Binance Smart Chain, an Ethereum alternative with smart contract capabilities was released in April 2019.

Who is Cz?
Who is Cz?

His estimated net worth of $1.1–2 billion landed him in Forbes’ third spot on their list of “The Richest People In Cryptocurrency” in February of 2018. Zhao established Binance’s American branch, Binance.US, this year. Binance has withdrawn its 2021 application to operate a cryptocurrency exchange in Singapore. In 2022, Zhao and rival FTX‘s Sam Bankman-Fried engaged in a public online spat with Zhao emerging victorious.

According to Zhao, the market will always self-correct, despite the fact that more and more people are getting into cryptocurrency to trade it and make money off of it as opposed to using it. Almost all of Zhao’s liquid net worth, he told Bloomberg Markets on April 6, 2021, was held in cryptocurrency. Zhao put up $500 million through Binance to help finance Elon Musk‘s purchase of Twitter in 2022.

Is Cz Married?

Zhao claimed in 2022 to have become a Canadian citizen 30 years earlier, in 1992. As Zhao has put it, he is a Canadian citizen, period. He returned to China in 2005 and he now owns a home there. He bought Bitcoin with the money he made from the sale of his Shanghai apartment in 2015. To the end of 2017, Zhao remained in China.

Taking inspiration from the philanthropic deeds of other billionaires, Zhao has announced his intention to give away as much as 99 percent of his fortune. Like many other business owners and pioneers from Peabody to the present day, I plan to donate the vast majority of my fortune. As part of my estate planning, I will be donating 90%, 95%, or 99% of my wealth.

An investigation by Reuters into Binance claims that Zhao dated Binance co-founder and former Chinese travel show host Yi He for several years.

Final Lines

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