Changpeng Zhao, otherwise known as CZ, is something like an enigma. Not much is known of his personal life, and what we do have, we had to scour the depths of the internet to find.
Like a chart that plots the highs and lows of a token's price trajectory, this exploratory series aims to chronicle the timeline of the man. We dive deep into what made Zhao who he is today, and perhaps glean a better understanding of the crypto mogul himself.
2020s
May 2020: Binance invested in the Indonesian compliant crypto exchange Tokocrypto.
July 2020: Binance Australia was officially launched.
September 2020: Binance TR (Turkey) was launched, entering the Turkish market.
November 18, 2020: Binance initiated a lawsuit against Forbes in the New Jersey District Court but later withdrew and invested $200 million.
June 2021: Binance halted derivatives trading in Germany, Italy, and the Netherlands.
August 2021: Binance stopped derivatives services in Hong Kong, South Korea, Malaysia, Australia, and Brazil.
September 2021: Between Binance and FTX, the Singapore government chose FTX. Temasek invested in FTX and added Binance.com to the investor warning list.
October 2021: Binance closed derivatives services in South Africa and C2C RMB trading in China.
November 2021: Zhao and Yi He began selling assets in Singapore, including real estate and a yacht.
December 2021: Zhao became the wealthiest Chinese person, surpassing the Chairman of Nongfu Spring, with a net worth of $90 billion.
In the same month, CZ closed Binance SG and withdrew its cryptocurrency trading platform license application.
March 2022: Zhao Changpeng and Yi He were expelled from Singapore (with verbal notice and an official warning that Binance would be added to the investor warning list). They moved to Ho Chi Minh City, Vietnam.
April 2022: Global media and the U.S. government began attacking Binance. It was revealed that Binance raised and transferred at least $2.35 billion for China, Iran, Syria, and Cuba.
July 2022: CZ sued Bloomberg Publisher in Hong Kong.
August 2022: Zhao and Yi He chose Dubai as their base. Due to Dubai's tolerance and lack of visa restrictions, the Binance team slowly gathered in Dubai.
September 2022: FTX CEO Sam Bankman-Fried mocked Zhao on Twitter, stating that defeating China's government spokesperson Zhao was imminent. He considered it a victory for the U.S. over China.
September 1, 2022: Binance announced Zhao's history - claiming that he is a refugee from the 1989 Tiananmen Square and a Canadian anti-communist. They categorically state that Zhao could not possibly be a spokesperson for the Chinese government.
September 2, 2022: Singapore officially added Binance to the investor warning list, marking it as the first globally recognised exchange that is rejected by mainstream governments.
November 7, 2022: Zhao retaliated against FTX and the Singapore government - which caused FTX to collapse, resulting in a global financial tsunami. Major global investment firms, including Temasek, suffered heavy losses. Binance became the only giant exchange worldwide.
January 2023: Zhao sought refuge in the Arab world, moving his family from Dubai to Abu Dhabi for direct communications with the royal family. Yi He and the children remained in Dubai, with the executives choosing to work from home in Dubai. Citing past experiences, they avoid unnecessary visits to the office.
March 2023: The U.S. CFTC sued Binance and CZ.
May 2023: Binance exited Canada, Australia, and the UK.
May 2023: Zhao Changpeng faced exclusion in Abu Dhabi's Chinese community due to his direct dealings with the upper echelons of Abu Dhabi, ignoring the relationships within the Chinese community. Progress with the Abu Dhabi royal family was slow.
June 2023: Binance exited the Netherlands, Austria, Belgium, and Cyprus.
June 2023: Zhao initiated contact with the Chinese government through diplomatic channels, requesting assistance. However, he added additional conditions, hoping for an official license from the Chinese government to prove Binance's legitimacy. The Chinese government politely declined.
June 5, 2023: The U.S. Securities and Exchange Commission (SEC) filed 13 charges against Binance and Zhao.
July 2023: Binance exited Germany.
September 2023: Binance sold all its businesses in Russia to CommEX.
September 2023: Issues arose concerning Israel, accusing Binance of helping Hamas raise and transport funds from the Arab world.
October 2023: Zhao explained to the U.S. government that Binance did not actively participate in any actions involving Hamas, but was asked to provide proof. On October 10th, Zhao cooperated with the Israeli military to eliminate and freeze Hamas accounts within the Binance exchange.
November 2023: Zhao hoped for further communication, with assurances from the U.S. of safety and freedom, anticipating at most a fine. Zhao went alone to Seattle but was asked not to leave the country.
Presently, management is handled by Zhao through video conferences, with Yi He overseeing detailed work.
December 1, 2023: During a discussion on December 1, Yi He mentioned the plan to relocate the headquarters from Dubai to Montreal. Due to visa issues for the Canadian team, approval from the Canadian government is currently being sought.
Story continued from - Understanding CZ: During His Peak of Life
Story begins here - Understanding CZ: What Was Binance Founder's Early Life Like?
Joy
