Changpeng Zhao’s Career in Cryptocurrency Entrepreneurship

Changpeng Zhao (also known as Zhao Changpeng) is the cofounder and CEO of Binance. Under his leadership, the company has grown into the world’s largest cryptocurrency exchange. It facilitates the trading of Bitcoin, Ethereum (or Ether), and other prominent digital coins. He was also the founder of Fusion Systems, a company focused on stock trading. He received a degree in computer science from McGill University in Montreal, Canada.

Changpeng’s meteoric rise to prominence within the crypto exchange community has garnered him profiles by major media outlets like Forbes, Fortune, Insider, The New York Times, and Reuters.

Changpeng Zhao is one of the most notable voices in cryptocurrency space. Here are a few facts to know about him:

1. 1. Changpeng has lived all over the world. Born in China’s Jiangsu province, Changpeng had to flee his native land once the Chinese government labeled his father a “pro-bourgeois intellect.” The family settled in Vancouver, British Columbia, in the late 1980s, where Changpeng helped support his family by working at McDonald’s. Since then, he’s lived in Dubai, Shanghai, Singapore, and Tokyo, although he still considers himself a Canadian citizen.
2. 2. Changpeng is one of the world’s richest people. As of late 2022, the Bloomberg Billionaires Index listed Changpeng as one of the richest people in the world. His rank fluctuates depending on the value of his net worth, which is bound up in crypto and his Binance holdings.
3. 3. Changpeng sold his apartment to buy Bitcoin. In 2015, Changpeng saw a major opportunity to invest in cryptocurrency. He sold his apartment in Shanghai, China, to buy as much Bitcoin as he could. Two years later, he launched Binance with an initial coin offering of $15 million.
4. 4. Changpeng worked in stocks before crypto. Before working in crypto, Changpeng spent a significant amount of time getting to know the stock market in various countries. He worked for the Tokyo Stock Exchange as well as for Bloomberg Tradebook before moving on to sell his own high-frequency trading systems to brokers.

Changpeng Zhao has spent his life learning the ins and outs of cryptocurrency and finance in general. These are just five major topics you can expect him to discuss in his class:

1. 1. Accumulating wisdom: For Changpeng, one of the main ways to accrue wisdom is to remain humble and honest with yourself. “Don't get into things you don't understand,” he suggests. “If it's something new, just because your friends got into it, don't do it. Learn about it. Don't be of the herd mentality.” In his class, he’ll teach you about crypto so you can make informed decisions about whether or not to invest in it yourself.
2. 2. Entrepreneurship: Cryptocurrency began as a speculative project before branching out into the mainstream. “Now you don't have to be a blockchain developer to be part of the ecosystem,” Changpeng says. “Now you can be any entrepreneur.” Hear what he has to say about becoming an effective crypto investor and entrepreneur in his class.
3. 3. Investment strategization: After decades in finance and crypto, Changpeng believes it’s essential to manage risk versus reward well when it comes to your own portfolio. “One way to measure risk is to say, ‘Look, in the worst case, if all your investments went to zero, is your life still okay?’” he suggests. Consider his other investment strategies by taking his class.
4. 4. Making crypto accessible: With Binance, Changpeng has made cryptocurrency trading easier than ever. “I like to deploy prototype technologies that are proven to work,” he says, “and make them available to hundreds of millions or even billions of users.” Hear how he did it in his course offering.
5. 5. Skepticism: Changpeng believes it’s important to approach crypto with the same sort of skepticism as you would any other investment. “If it's too good to be true, it usually is,” he says. “So don’t chase those things. Do your own research. And don't put all your eggs in one basket.” Learn more in his class about how he ferrets out good versus bad investments.

To learn more about investing in future trends, building a business strategy, and upping your general business savvy, consider the following classes:

1. 1. Bob Iger on business strategy and leadership: Bob Iger’s tenure as the CEO of the Walt Disney Company saw some of the entertainment company’s biggest acquisitions and successes. Watch Bob’s class to learn how he fuses curiosity, creativity, and candor to grow a business.
2. 2. Howard Shultz on business leadership: Howard Schultz didn’t have an MBA or an Ivy League degree, but he had a dream of building an enduring company. In Howard’s class, the Starbucks CEO shares lessons from nearly forty years of leading one of the world’s top brands, including how to face self-doubt when starting your journey as an entrepreneur.
3. 3. Sara Blakely on self-made entrepreneurship: Sara Blakely had no fashion, retail, or business leadership experience when she invented Spanx, her successful brand of women’s undergarments, in the 1990s. All she had was $5,000 and an idea. Watch Sara’s class to learn more about her entrepreneurial journey, as well as her tips for marketing a product and hiring a team.

All investments and investment strategies entail inherent risks and introduce the potential for financial loss or the depreciation of assets. The information in this article is for educational, informational, and referential purposes only. Consult a professional investment advisor before making any financial commitments.

From the rise of blockchain technology to the dawning of NFTs and Web3, the world of cryptocurrency has undergone dynamic changes and continues to innovate. With the MasterClass Annual Membership, get access to exclusive lessons from Hunch cofounder Chris Dixon, Binance cofounder Changpeng Zhao, Coinbase’s Emilie Choi, and economist Paul Krugman to learn about the ever-changing landscape of cryptocurrency and its place in the global economy.