Changpeng Zhao, nicknamed CZ, was born in 1977 in Jiangsu, China.

Changpeng Zhao, founder of Binance.

Nearly three decades later, Zhao had to leave China for the second time amid the country’s `crackdown` on the cryptocurrency industry.

In fact, the 44-year-old boss of the world’s largest cryptocurrency exchange is very tight-lipped about where his business is actually located.

When Zhao was asked about the company’s real `home` on a podcast last year, he said: `Wherever I sit is the Binance office. We’re not hiding anything. We’re very open.`

Recently, on June 25, the UK Financial Conduct Authority (FCA) requested Binance to stop all legal activities in the country, as well as related companies, including Binance Markets Limited and its parent company.

The agency said the company’s UK entity, Binance Markets Limited, `is not authorized to carry out any activities in the UK` and added that `no entity within Binance Group holds any form of

Binance was given until the evening of June 30 to remove all advertising and send notices to customers that the company is not allowed to provide regulated services.

This is not the first time Binance and its founder have faced legal actions from regulators.

Zhao learned computer programming as a child with an IBM 286, purchased with much of his family’s savings.

After moving to Shanghai to found a gi startup, Zhao heard about Bitcoin in 2013 from a tech investor and decided to invest 10% of his money.

By 2017, nearly a decade after Bitcoin was invented, Zhao founded Binance in Shanghai.

According to data from tracking company Coinmarketcap, more than $16 billion in cryptocurrency transactions are processed by Binance every day, compared to just over $2 billion for US giant Coinbase.

Coinbase was valued at $100 billion when it debuted on the New York Stock Exchange in April. Photo: AP.

However, Binance’s scale, and its founder’s attitude towards regulators, have attracted increasing attention from countries.

In China, Binance remains banned along with all other cryptocurrency exchanges.

Meanwhile, Binance was also forced to block customers in the US from accessing its main website, setting up a separate US exchange.

While Binance asserted that the restrictions will not affect services provided by the company’s foreign entities, the move is likely to affect Zhao’s plans to launch an exchange.

David Hamilton, a senior financial regulation lawyer at the FCA’s law firm Pinsent Masons, said the FCA’s power to impose on Binance is largely limited to the UK.

Rabya Anwar, a partner at Keystone Law, said the ban on Binance `sends a clear signal not just to Binance but to the entire crypto market. Crypto companies should be under no illusions. Binance

Dang Thien (according to Telegraph)