As a researcher, I find the information about Changpeng Zhao’s (CZ) massive net worth and ownership of Binance tokens quite intriguing. The recent Forbes report revealed that CZ personally owns approximately 94 million BNB tokens, which is around 64% of the exchange’s total supply. Moreover, Forbes’ forensic analysis suggests that over half of these tokens were controlled by him and the founding team from the beginning.
As a crypto investor, I’ve come across some intriguing news. A report published in Forbes revealed that Binance‘s CEO, Changpeng Zhao, holds approximately 94 million BNB tokens – which represents around 64% of the total supply.
According to the forensic examination of the wallets carried out by Forbes, CZ holds over half of the 80 million tokens allotted to him and Binance’s founding team following the establishment of the exchange.
In Binance’s initial coin offering (ICO) held in 2017, a total of 100 million BNB tokens were set aside for public sale. Nevertheless, Forbes recently disclosed that the ICO fell short of expectations, as the token demand did not reach the available supply. The publication’s investigation indicated that only approximately 11 million tokens were successfully sold during the event. Consequently, the remaining unsold tokens remain in Binance’s possession.
CZ’s equity stake in the Binance exchange is also believed to be worth roughly $33 billion.
As a financial analyst, I’d rephrase it as follows: My current estimation, based on Forbes’ latest ranking, places the wealth of the ex-Binance chief at an impressive $61 billion. This positions him as the 24th wealthiest individual globally. To put that into perspective, Coinbase’s CEO, Brian Armstrong, holds a net worth of approximately $11 billion.
Notably, CZ’s net worth has grown significantly since the start of his incarceration.
According to U.Today’s report, Zhao received a four-month prison sentence in April following his confession to enabling money laundering activities on the prominent cryptocurrency exchange.
Around the beginning of June, he transferred to Lompoc II, a federal prison in California with a low security level. Once renowned as “America’s country club prison,” this correctional facility previously held notable figures such as former President Richard Nixon’s attorneys.
On June 6, BNB reached its current all-time high of $717.48 before paring some gains.
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2024-06-14 21:46