From Private Poker Game to Crypto Giant – How Changpeng Zhao Built Binance and a $96B Fortune

Top poker players thrive by taking calculated risks, reading timing perfectly, and thinking long-term. These same skills helped Changpeng Zhao – known as CZ – make one of the boldest moves in crypto history. In 2013, during a private poker game, he first heard serious advice to invest in Bitcoin – a moment that would lead to the creation of Binance and a $96 billion net worth.

Back in 2013, Zhao was still working as a software developer. During a private high-stakes poker game, Bobby Lee (then CEO of BTC China) and crypto investor Ron Cao recommended that players consider putting 10% of their net worth into Bitcoin.

Zhao listened – but didn’t settle for 10%. Instead, he sold his apartment and went practically all-in on Bitcoin. While this decision defied traditional bankroll management principles known in poker, it marked the first step toward building the world’s biggest cryptocurrency exchange.

In 2017, CZ launched Binance. Within months, it became the most-used crypto exchange on the planet. Today, Binance handles up to $100 billion in daily trading volume, offering access to over 350 cryptocurrencies, from blue-chip tokens to the most speculative altcoins.

The platform’s native token, Binance Coin (BNB), launched at $0.15 during its ICO. Since then, the BNB price has increased over 4,000×, making it one of the best-performing crypto assets of all time. Binance’s estimated annual revenue exceeds $20 billion.

CZ’s mindset still reflects key poker principles: identify positive EV spots, take strategic risks, and adapt rapidly to changing dynamics. Binance continues to lead the global crypto exchange market, and Zhao’s personal net worth – currently estimated at $96 billion – puts him within reach of Elon Musk and Jeff Bezos. Binance itself is now valued at over $300 billion.

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