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Binance

Cryptocurrency ExchangeFounded 2017
Reviewed by Swet Parvadiya
Company data updated: October 2026

Founders

Who Founded Binance?

Changpeng Zhao (CZ), Yi He · Founded 2017 · HQ today: George Town, Grand Cayman, Cayman Islands

Who founded Binance?

Binance was founded by Changpeng Zhao (CZ), Yi He in 2017. It is now led by Richard Teng.

Founders
Changpeng Zhao (CZ), Yi He
Founded
2017
Headquarters
George Town, Grand Cayman, Cayman Islands
Number of founders
2
Current CEO
Richard Teng (since 2023)
Where was Binance founded?
Binance was founded in Shanghai, China in 2017.
When was Binance founded?
Binance was founded in 2017.
Who started Binance?
Binance was founded by Changpeng Zhao (CZ) and Yi He.
How old is Binance?
Binance is 9 years old as of 2026.

Founding Story

Changpeng Zhao spent the 2000s building trading software, from an order-matching system for the Tokyo Stock Exchange to futures tools at Bloomberg Tradebook and his own Shanghai firm, Fusion Systems. He discovered Bitcoin in 2013, joined Blockchain.info and in 2014 became CTO of OKCoin, where Yi He had hired him. In mid-2017 the two raised about $15 million by selling BNB tokens and launched Binance on July 14. In September China banned token sales and domestic exchanges, so Binance moved its operations to Japan and then, after a warning from Japan's regulator in March 2018, announced Malta. It never settled on one home again until its 2026 ADGM licence.

Changpeng Zhao (CZ)

Background

Changpeng Zhao, universally known as CZ, developed a deep understanding of financial trading systems long before discovering cryptocurrency. Born in Jiangsu, China, his family emigrated to Canada where he studied computer science at McGill University. He began his career developing order-matching software for the Tokyo Stock Exchange and later developed futures trading software at Bloomberg Tradebook. This unique blend of high-frequency trading infrastructure and computer science gave him the exact technical skillset required to build a highly strong, liquid cryptocurrency exchange.

Role at Binance

Changpeng Zhao founded Binance in 2017 after a BNB token sale that raised about $15 million. Drawing on years of building trading systems, he designed the exchange for speed and a broad coin list, and within about six months it was the world's largest crypto exchange by volume. He ran it with no fixed headquarters, added futures, BNB Chain, Trust Wallet and CoinMarketCap, and kept Binance at the top through the 2022 collapse of rival FTX. That borderless approach also drew regulators: in November 2023 Zhao pleaded guilty to failing to maintain an effective anti-money-laundering program, stepped down as CEO and paid a $50 million fine. He served four months in a US prison in 2024 and was pardoned by President Trump in October 2025. He remains Binance's largest shareholder, with a stake Forbes estimated at about 90% in March 2026.

Changpeng Zhao (CZ) was born in 1977. Education: McGill University School of Computer Science.

Yi He

Co-founder 2017

Background

Yi He grew up in Sichuan Province and worked as a television host before joining OKCoin as a vice president, where she hired Zhao as CTO in 2014. She was later a vice president at video company Yixia Technology, then co-founded Binance in 2017.

Role at Binance

Yi He co-founded Binance with Changpeng Zhao in 2017 and became co-CEO alongside Richard Teng on December 3, 2025. For most of Binance's history she ran the parts users see: marketing, brand, community and customer service, as the exchange grew from launch to more than 300 million registered users. She also led Binance Labs, the venture arm that backed early-stage crypto projects, until it was renamed YZi Labs in January 2025 and became a family office for her and Zhao. In 2026 she became the first crypto-native executive on Fortune's Most Powerful Women in Business list.

Yi He was born in 1986.

Binance: CEO & Leadership History

Full timeline →

Yi He

Co-Founder & Co-CEO

2025 – Present

Before Binance she was a television host and a vice president at OKCoin, where she hired Changpeng Zhao as CTO in 2014.

Richard Teng

CEO (Co-CEO since December 2025)

2023 – Present

Teng spent three decades in financial regulation, including as CEO of the Financial Services Regulatory Authority at Abu Dhabi Global Market, chief regulatory officer of Singapore Exchange and a director at the Monetary Authority of Singapore.

Changpeng Zhao

Founder & CEO

2017 – 2023

Zhao studied computer science at McGill University and built trading systems for the Tokyo Stock Exchange and Bloomberg Tradebook before crypto. He served four months in a US prison in 2024 and was pardoned on October 23, 2025.

Keep researching Binance

Who Founded Binance? FAQ

Who founded Binance and when was the platform launched?

Binance was founded by Changpeng Zhao (CZ) and Yi He in July 2017. The platform was officially launched following a successful $15 million Initial Coin Offering (ICO) of the BNB token conducted between June and July 2017.

What was Changpeng Zhao's background before creating Binance?

CZ studied computer science at McGill University in Montreal, built trade-matching systems for the Tokyo Stock Exchange and Bloomberg Tradebook, founded high-frequency trading software firm Fusion Systems in Shanghai in 2005, and served as CTO of OKCoin in 2014.

What role did Yi He play in founding Binance?

Yi He, a former TV host and OKCoin vice president who had hired Zhao there in 2014, co-founded Binance in 2017. She ran marketing, community and customer service, led Binance Labs, and became co-CEO on December 3, 2025.

How did the 2017 BNB token sale work?

In July 2017 Binance sold 100 million BNB, half of the original 200 million supply, for Bitcoin and Ether, raising about $15 million. The money paid for building the exchange, and BNB holders got discounted trading fees.

How did the founders handle China's sudden crypto ban in September 2017?

When Chinese regulators banned ICOs and cryptocurrency exchanges in September 2017, the founders relocated Binance's servers, team members, and operations overseas to Japan and international hubs, pivoting into a borderless global exchange.

What technical architecture did the founders design for Binance's matching engine?

The founders architected a memory-based C++ matching engine capable of executing 1,400,000 orders per second, completely eliminating order execution lag and server crashes that plagued early competitors like Poloniex, Bittrex, and Kraken.

What was the founding ethos behind Binance's decentralized 'remote-first' culture?

The founders built Binance as a fully distributed, remote-first global organization without a fixed physical global headquarters, allowing team members across 50+ countries to coordinate around the clock in an agile startup framework.

What philanthropic initiatives were established by the Binance founders?

The founders established Binance Charity Foundation (BCF), a transparent blockchain-powered philanthropic platform that has donated tens of millions in cryptocurrency for disaster relief, COVID-19 medical supplies, education for women in Web3, and clean water projects.

Who founded Binance?

The company was founded by Changpeng Zhao (widely known as CZ) and Yi He; CZ previously developed high-frequency trading software for Wall Street before pivoting entirely to crypto.

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Content is for informational purposes only. Not financial advice. Data sourced from SEC filings, annual reports, and public records. See our full disclaimer and methodology.