Former Binance CEO Changpeng Zhao Becomes BNB Billionaire With $39 Billion Asset Holding

Changpeng Zhao (CZ), the founder and former CEO of cryptocurrency exchange Binance, has become a BNB billionaire due to the large amount of tokens he holds. A latest report reveals that CZ owns 64% of the circulating supply of BNB, the native token of Binance.

Massive Value of BNB Asset Holding

With BNB's current price at $593, CZ's BNB holdings are worth around $39 billion. This figure makes him one of the wealthiest individuals in the cryptocurrency technology industry.

BNB - Binance's Utility Token Centerpiece

BNB is the central utility token of Binance, used for paying trading fees and rewards on the platform. The token has a maximum supply of 200 million, with over 153 million BNB currently circulating. BNB's current market capitalization exceeds $91 billion.

$61 Billion Net Worth and Lawsuit with U.S. Government

According to Forbes' estimates, Changpeng Zhao's net worth stands at $61 billion, making him the 24th richest person in the world. However, in 2023, the U.S. Department of Justice indicted Zhao and Binance for alleged violations of sanctions and money laundering laws.

Settlement Deal and Prison Sentence

As part of the settlement deal, Zhao pleaded guilty and agreed to step down from his leadership role at Binance. The deal also included a $50 million fine for Zhao and a $4.3 billion fine for Binance. Zhao was also sentenced to four months in prison in relation to the case.

Despite this, with his massive BNB asset holding, Changpeng Zhao remains one of the wealthiest individuals in the global cryptocurrency technology industry.$BNB