The title of the richest Chinese has been taken over by a new champion. Zhao Changpeng, founder and CEO of Binance, is now the richest person of Chinese descent, according to Caijing.com.

Zhao Changpeng with a total fortune of up to $90 billion, is the founder and CEO of Binance. He is also among the ten richest people in the world. Insiders also revealed that the cryptocurrency platform Binance will be valued at USD300 billion, and Zhao Changpeng holds 30% of Binance's shares.

He was born in 1977 in Jiangsu Province. His father was a university professor. In the late 1980s, his family emigrated to Vancouver, Canada, where Zhao received his education.

He and his team created Binance in July 2017 and half a year later, Binance's users reached six million, becoming the world's largest cryptocurrency exchange based on daily trading volume. The company has maintained its leading position in the industry to this day.