As reported by Fortune magazine, during the initial week of Binance co-founder CZ's incarceration in the United States,
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the value of BNB surged to an unprecedented level, propelling him to the status of the wealthiest individual ever confined in a U.S. federal penitentiary. According to data from CoinGecko, BNB reached a peak of $717.48 last Thursday, with its market capitalization surpassing $109 billion, marking a twofold increase since the beginning of the year.
Analysis by Kaiko analyst Dessislava Aubert suggests that the recent surge in BNB's value was anticipated by trading patterns in the derivatives market towards the end of May, with Binance continuing to dominate 85% of the global BNB trading volume. Given that a significant portion of CZ's wealth is tied to BNB holdings, his net worth has surged by $4.1 billion in 2024. While CZ has not disclosed the precise amount of BNB he possesses, the white paper of BNB's initial token issuance in 2017 allocated 80 million tokens to the founding team, presently valued at approximately $56 billion.