TL;DR:
- Wei Zhou served as Binance’s first CFO in 2018, providing institutional credibility after leading IPOs on the NYSE and NASDAQ.
- In his book “Freedom of Money,” Changpeng Zhao (CZ) describes him as a disloyal subordinate and an antagonist following his departure.
- Currently, Zhou leads Coins.ph and is identified by CZ as part of a group of former employees critical of the platform.
A significant portion of Binance founder Changpeng Zhao’s (CZ) recent autobiography is dedicated to analyzing the figure of Wei Zhou, who served as the company’s first Chief Financial Officer.
Despite the character’s historical weight, the autobiography portrays the executive as one of the most frequently mentioned figures, matching the narrative relevance of controversial personalities such as Sam Bankman-Fried and others.
During his tenure as CFO, which began in 2018, Wei Zhou was the architect of strategic moves, including Binance’s controversial initial investment in the FTX platform in 2019.
The Conflict in the Philippines and the Rift with Binance
The book indicates that the professional relationship between the two executives fractured permanently after Wei Zhou’s departure in 2021, transforming into a rivalry that CZ describes with notable bitterness in his memoirs.
CZ accuses Zhou of using his current position as CEO of Coins.ph to hinder Binance’s expansion in the Philippines by sending warning letters to local regulators.
On the other hand, reports from media outlets like Reuters suggest that, during his three years in office, Zhou never had full access to the exchange’s actual financial accounts.
This lack of transparency was reportedly a determining factor in the disconnect between the technical leadership and the centralized control that CZ exercised over all global operations.
After leaving the company, Wei Zhou allegedly formed a group dubbed the “Binance Avengers,” consisting of disgruntled former executives who question the company’s practices.
In summary, the figure of Wei Zhou represents Binance’s complex transition from an agile startup to an entity under the scrutiny of its own founders and former leaders.
