After Trump announced his victory in the 2024 presidential election, former Chinese billionaire and Binance founder Zhao Changpeng's net worth surged again, breaking through 60.6 billion dollars, joining the ranks of billionaire Elon Musk's profits. Zhao Changpeng revealed that someone wants to buy his stake in Binance, and he is evaluating the offer but has not made a decision yet.
As the world's largest cryptocurrency exchange, Binance reached a settlement agreement in November 2023 with the U.S. Department of Justice, the Commodity Futures Trading Commission (CFTC), and other agencies, agreeing to pay a hefty fine of 4.3 billion dollars.
Zhao Changpeng also admitted to violating U.S. anti-money laundering laws and other charges, and he resolutely resigned as CEO of Binance, with Richard Teng taking over. Zhao Changpeng was ultimately sentenced to 4 months in prison by the U.S. District Court in Seattle, and after spending 4 months in prison, he was officially released at the end of September and publicly spoke at Binance Blockchain Week in Dubai at the end of October.
In a recent interview with Bloomberg, he stated that his work chapter at Binance has come to an end.
“I don't think I want to go back to Binance as CEO anymore. I have led this company for 7 years, I have enjoyed this journey, but I feel this chapter is over.”
It is worth noting that even if Zhao Changpeng wants to return now, the plea agreement he reached with the U.S. Department of Justice does not allow it, as the condition is that he cannot engage with the operation of Binance.
Zhao Changpeng also revealed that he had previously received an offer to sell his stake in Binance, but he did not disclose the amount offered.
He said: “I won't say I will always hold these shares; I am also willing to evaluate every offer, but so far I have not made a decision. You know, I am just an ordinary shareholder of Binance now.”
According to Forbes, Zhao Changpeng's net worth mainly comes from his holdings in Binance Coin (BNB). The report estimates that the current circulating supply of Binance Coin is 147.5 million, while Binance holds 71% of the supply. As the founder of Binance, although Zhao Changpeng has stepped down as CEO, he still controls 90% of Binance's equity, which translates to an estimated total holding of 94 million Binance Coins, accounting for 64% of the current circulating supply.
However, it should be emphasized that even holding 94 million Binance Coins does not mean Zhao Changpeng can cash them all out. First, these are held by Binance, and secondly, such a large quantity cannot be digested by the market under normal circumstances. He has previously stated that Binance will not sell Binance Coin but will continue to burn it.
With Trump's announcement of victory, the overall cryptocurrency market surged, pushing Zhao Changpeng's net worth to exceed 60 billion dollars again.
According to Forbes' Billionaires List, Zhao Changpeng is currently ranked 25th, with a total net worth of 60.6 billion dollars.
