In 2013, Changpeng Zhao sold a family apartment for $900,000 to buy bitcoin and later founded Binance in 2017.

He subsequently faced legal proceedings in the United States, served a prison term, and later advised several governments on crypto policy.

Early steps into cryptocurrency

According to accounts of his career, Zhao first encountered bitcoin while playing poker and spent several months studying the technology.

After that period of learning, he sold the family apartment for $900,000 and converted the proceeds into BTC, marking a decisive personal investment in the asset class.

From startup to controversy

Four years after his initial move into crypto, Zhao founded Binance, which grew rapidly into a major cryptocurrency exchange.

The platform’s expansion was followed by high-profile disputes in the industry, a criminal case in the United States and a period of incarceration for Zhao.

Post-release activity and wealth estimates

After his release, Zhao retained a significant stake in Binance and began advising national governments on digital-asset regulation and infrastructure.

• He has provided consultations to governments including Pakistan, the Philippines and Kyrgyzstan.

Forbes has estimated his net worth at $114 billion, while Zhao himself has described a lower range of $10–30 billion.

The sequence of decisions—from learning about bitcoin to selling property and founding an exchange—remains a frequently cited example of early personal conviction in cryptocurrencies.