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According to an exclusive Forbes report on June 14, Binance founder Changpeng Zhao (CZ) owns a staggering 64% of the circulating supply of BNB Chain (BNB), formerly Binance coin. Moreover, Forbes estimates CZ’s net worth to be $61 billion. This makes him the 24th richest person in the world, just after Julia Koch and his family. The report, conducted in conjunction with Gray Wolf Analytics , reveals that CZ amassed his BNB stockpile in two ways. Firstly, he and the founding team received 80 million tokens from the total supply of 200 million BNB during Binance’s creation in 2017. “Forbes’s forensic Analysis of the wallets that received these tokens […] indicates that the company holds 46.2 million of the original 80 million tokens,” the report states. Picks for you Bitcoin investor builds $1,100 div...

Binance founder and former CEO Changpeng Zhao saw his net worth grow by a whopping $25 billion in 2023 despite market challenges and Binance’s regulatory troubles. This year came with its unique challenges and market volatility. However, amid the issues, the market leveraged an opportunity to recover from the losses of the previous year triggered by the Terra and FTX implosions. The recovery campaign saw Zhao’s net worth, majorly denominated in cryptocurrencies, surge by astronomical margins, according to a recent Bloomberg report CZ’s net-worth ballooned this year over $20 billion. The report, citing the Bloomberg Billionaires Index, also noted that Coinbase CEO Brian Armstrong saw his wealth growth this year. In addition, Gemini co-founders, Cameron and Tyler Winklevoss were among the crypto billionaires who witnessed an increase in their portfolio value. However, Bloomberg suggests Zhao’s wealth growth outpaced the increase recorded by other crypto entrepreneurs. You mi...