Who Really Owns Binance? The Controversial Empire Behind the World’s Largest Crypto Exchange

Have you ever wondered who’s actually pullin’ the strings behind Binance, the crypto giant that seems to be everywhere these days? Whether you’re a crypto newbie or a seasoned trader understanding who controls the platform where billions in digital assets flow daily is pretty darn important.

Let’s dive into the ownership of Binance, its controversial founder, and why it matters for anyone in the crypto space.

The Founder: Changpeng Zhao (CZ)

Binance was founded in July 2017 by Changpeng Zhao, commonly known as “CZ” in the crypto world. According to the Bloomberg Billionaires Index, CZ has a net worth of approximately $47.1 billion as of November 2025, making him the 39th richest person in the world.

But CZ ain’t just any billionaire – his story is pretty fascinating

• Born in Jiangsu, China in 1977 to a teacher mom and academic dad
• Moved to Canada in the late 1980s when his father got a job at the University of British Columbia
• Started coding at around age 16
• Graduated with a computer science degree from McGill University in Montreal
• Worked at Bloomberg’s Tradebook in New York starting in 2001
• Moved to Shanghai in 2005 to develop high-frequency trading software at Fusion Systems
• Got interested in cryptocurrency in 2013 after a poker game discussion
• Worked at Blockchain.info for about a year before founding Binance in 2017

What’s particularly interesting is CZ’s controlling stake in Binance. According to Bloomberg, CZ owns approximately 90% of Binance based on his public statements and filings in regions where ownership is publicly disclosed.

The Ownership Structure

Binance’s ownership structure is somewhat complicated and has faced scrutiny from regulators. Here’s what we know:

1. Binance Holdings Ltd.: The main corporate entity behind Binance is Binance Holdings Ltd., with CZ owning approximately 90% of the company.

2. Binance.US: CZ also has significant ownership in Binance.US, a related US exchange. He’s calculated to own an 86% stake in the firm based on the company’s fundraising history.

3. Co-founder Yi He: Yi He is the co-founder of Binance and helped rewrite parts of the white paper for Binance’s $15 million initial coin offering. While her exact ownership stake isn’t clearly specified in the provided materials, she’s a significant figure in the company.

4. MGX Fund Management Limited: In March 2025, the Abu Dhabi government-backed investment fund MGX Fund Management Limited made a minority $2 billion investment in Binance.

Leadership Changes After Legal Troubles

It’s important to note that while CZ founded and owned most of Binance, he’s no longer running the day-to-day operations. In November 2023, CZ pleaded guilty to anti-money laundering and sanctions violations and agreed to step down as CEO as part of a settlement with US authorities.

Richard Teng took over as CEO following CZ’s resignation. However, CZ remained the primary owner of the company even after stepping down as CEO.

In April 2024, CZ was sentenced to four months in prison for his role in the company’s legal violations. He was released in September 2024.

And in a stunning turn of events, in October 2025, President Trump pardoned CZ, with the White House press secretary stating that CZ had been the victim of persecution by the Joe Biden administration.

No Official Headquarters

One of the most peculiar aspects of Binance’s ownership structure is that the company has no official headquarters. This has caused significant regulatory issues worldwide.

Binance was initially based in China but moved out before the Chinese government’s cryptocurrency trading ban in September 2017. The company later moved to Japan, then to Malta, though Malta’s Financial Services Authority issued a statement in February 2020 saying Binance was not authorized or regulated by them.

This lack of a clear home base has allowed Binance to sometimes operate in regulatory gray areas – something that has caused them trouble in many countries.

Recent Controversies and Trump Family Connections

According to the Wikipedia article, The Wall Street Journal uncovered in March 2025 that Binance was in talks with the family of Donald Trump about business dealings. In August 2025, the same publication found that Binance was quietly administering a trading platform for the Trump family’s World Liberty Financial.

These connections came to light shortly before President Trump pardoned CZ in October 2025, raising questions about potential conflicts of interest.

Why Binance’s Ownership Matters

You might be wondering why all this ownership stuff matters for the average crypto user. Here’s why I think it’s super important:

• Regulatory Compliance: Binance has faced legal challenges in numerous countries, and understanding who controls the company helps users assess risk.

• Security of Funds: In the crypto world, trust is everything. Knowing who ultimately controls the platform holding your digital assets is crucial.

• Decision Making: Major decisions about fees, supported coins, and security measures are influenced by ownership.

• Geographic Risks: Without a clear headquarters, Binance can sometimes operate in regulatory gray areas, which creates uncertain legal status in many countries.

Binance’s Regulatory Troubles Worldwide

Binance’s ownership structure and operations have led to regulatory issues in multiple countries:

• United States: In November 2023, Binance pleaded guilty to federal charges including money laundering and sanctions violations, paying a $4 billion fine.

• United Kingdom: The UK’s Financial Conduct Authority ordered Binance to stop all regulated activity in the country in June 2021.

• Japan: Japan’s Financial Services Agency has warned Binance multiple times about operating without proper registration.

• Germany: Germany’s financial watchdog warned Binance over unregistered “stock tokens.”

• Italy: Italy’s financial regulator initially ordered Binance to be blocked, though the company later gained approval.

• Nigeria: Nigerian authorities filed a lawsuit suing Binance for $81.5 billion for economic losses and back taxes.

BNB Token and Binance’s Ecosystem

Another important aspect of Binance’s ownership structure is the BNB token (formerly known as Binance Coin). While not directly related to equity ownership, BNB represents a significant part of Binance’s ecosystem:

• BNB was launched in July 2017 and was originally called Binance Coin
• It was rebranded to Build’N’Build in February 2022
• By 2021, BNB had the third highest market capitalization among cryptocurrencies
• The token initially operated on the Ethereum network but later moved to BNB Smart Chain

Is Binance’s Ownership Changing?

Binance’s ownership structure may be evolving, especially given recent developments:

1. Abu Dhabi Investment: The $2 billion investment from MGX Fund Management Limited in March 2025 suggests Binance is bringing in strategic investors.

2. Trump Family Connections: The reported discussions with the Trump family’s World Liberty Financial could potentially lead to ownership changes.

3. Regulatory Pressures: As Binance seeks to comply with various regulatory requirements worldwide, its corporate structure may need to become more transparent and traditional.

What This Means for Binance Users

So, what does all this mean for you if you’re using Binance? Here are some takeaways:

1. Due Diligence: Always research the current regulatory status of Binance in your country before using the platform.

2. Risk Assessment: Consider the implications of Binance’s ownership structure when deciding how much of your crypto portfolio to keep on the exchange.

3. Stay Informed: Keep up with news about Binance’s ownership and regulatory status, as these can change rapidly.

4. Consider Alternatives: Depending on your location, using regulated exchanges with clearer ownership structures might offer more peace of mind.

Binance remains primarily owned by its founder Changpeng Zhao (CZ), who holds approximately 90% of the company despite stepping down as CEO following legal troubles. The company has no official headquarters and has faced regulatory challenges in numerous countries.

The recent pardon of CZ by President Trump, combined with reported connections to the Trump family’s crypto ventures, adds another layer of complexity to Binance’s already controversial story.

As with anything in the crypto world, it’s essential to DYOR (Do Your Own Research) and understand who controls the platforms where you trade and store your digital assets. After all, in a space where “not your keys, not your coins” is a mantra, knowing who holds the keys to the exchange itself is just as important.

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Binance’s ownership is complex, with Changpeng Zhao (CZ) being the founder and former CEO who still holds a controlling stake, despite his 2023 guilty plea and stepping down. The company is now managed by a board of directors, which includes Chairman Gabriel Abed and current CEO Richard Teng, who took over after Zhao stepped down.

Binance’s international platform (Binance.com) is not legal for use by US customers, who must use the separate, regulated Binance.US exchange instead.