Major holder of BNB Token.
Changpeng Zhao (CZ), the founder and former CEO of Binance, is reported to hold approximately 64% of the circulating supply of Binance Coin (BNB), equating to about 94 million BNB tokens. This substantial holding, combined with his 90% equity stake in Binance, has significantly contributed to his estimated net worth of $61 billion, positioning him as the 24th richest person globally.
BNB serves as the native token of the Binance exchange, utilized for transaction fees and rewards on the platform. The token has a maximum supply of 200 million, with over 153 million currently in circulation. As of June 2024, BNB's market capitalization exceeded $91 billion, with the token experiencing a significant price increase from around $290 in January 2024 to a high of $724 in June.
In 2023, the U.S. Department of Justice indicted Zhao and Binance for alleged violations of sanctions and money laundering laws. Zhao entered a plea deal, admitting to violating the Bank Secrecy Act, resulting in his resignation as CEO, a $50 million fine, and a four-month prison sentence. Binance was fined $4.3 billion and is subject to a three-year monitoring period by an independent consulting firm.