In a move that has sent ripples through the financial and political worlds, former US President Donald Trump has issued a full pardon to Changpeng Zhao, the visionary Chinese-Canadian founder of Binance, the world’s largest cryptocurrency exchange. This announcement, coming shortly after Zhao completed a four-month prison sentence for money laundering, has been framed by a White House official as an act against the ‘Biden Administration’s war on cryptocurrency’.
Zhao, widely known as ‘CZ,’ had stepped down as Binance’s CEO in November 2023 after pleading guilty to charges in the United States. Despite his legal challenges, his influence in global finance remains undiminished. Forbes notably ranked him as the 21st-richest person globally and the wealthiest Canadian in October 2025, with an estimated net worth of $88.0 billion.
Beyond his entrepreneurial ventures, CZ has also embraced significant advisory roles on the international stage. In April 2024, he joined the Pakistan Crypto Council as a strategic advisor, tasked with shaping policy and championing blockchain technology across the nation. A month later, in May 2025, he extended his influence to Central Asia, advising Kyrgyzstan’s President Sadyr Japarov on the strategic development of digital assets. These appointments underscore his unwavering commitment to and pivotal role in shaping the evolving global cryptocurrency landscape.
A Journey from China to Global Finance
Born in 1977 in Lianyungang, China’s Jiangsu province, Changpeng Zhao’s formative years were shaped by a family move to Vancouver, British Columbia, when he was just twelve. His parents, both dedicated educators, instilled in him a deep appreciation for learning. During his teenage years, Zhao contributed to his family’s finances by working various service jobs, from flipping burgers at a fast-food restaurant to pumping gas at a service station.
His academic path led him to McGill University in Montreal, Quebec, where he specialized in computer science. This robust technical education at McGill laid the essential groundwork for his groundbreaking future in financial technology and the burgeoning world of cryptocurrency.
Forging a Path in Tech and Finance
After graduating from McGill, Zhao embarked on an impactful internship in Tokyo, where he honed his skills developing sophisticated software for matching trade orders for a Tokyo Stock Exchange subcontractor. He then spent four years at Bloomberg Tradebook, dedicating his expertise to the intricacies of futures trading systems.
Pioneering Cryptocurrency: From Startup to Binance
The year 2005 marked Zhao’s return to Shanghai, where he launched Fusion Systems, his first technology startup. The company quickly gained renown for its ultra-fast automated high-frequency trading platforms, serving stockbrokers with cutting-edge efficiency. A pivotal moment in his career arrived in 2013 during a friendly poker game with Bobby Lee, who suggested he invest a small part of his assets into the nascent cryptocurrency, Bitcoin. Instead, Zhao made a bold, all-in decision: he sold his Shanghai apartment to fully invest in Bitcoin, a move that would fundamentally alter his professional trajectory.
That same year, his growing expertise led him to contribute to Blockchain.info and take on the role of Chief Technology Officer at OKCoin. These experiences culminated in 2017 with the founding of Binance, an exchange that would rapidly ascend to become one of the world’s foremost cryptocurrency platforms. Further cementing his influence in the tech space, Zhao’s Binance also committed $500 million in 2022 to support Elon Musk’s high-profile acquisition of Twitter.
Donald Trump’s recent pardon is poised to significantly impact Changpeng Zhao’s personal and professional standing within the United States, further solidifying his considerable and ongoing influence across the international cryptocurrency landscape.