📈 #BinanceCoin: How much $BNB does CZ own?
🔹 Binance Coin [BNB] hit an all-time high of $720 earlier this month. However, the asset's streak was interrupted when BNB fell below $600. At press time, the altcoin was trading at $583.77 after a daily drop of 3.55%. At its current price level, BNB is 18.65% below its all-time high. Despite its current decline, holders of the asset are not far from recovering its ATH. But the real question is: who owns the most BNB?
🔹 According to research by Gary Wolf Analytics, more than half of the circulating supply of BNB is owned by Changpeng Zhao, the former CEO of Binance. The report reveals that CZ holds a total of 94 million BNB, which is equivalent to 64% of the entire Binance Coin supply. Binance's founding team received 80 million BNB tokens out of a total supply of 200 million BNB during the firm's creation in 2017.
Currently, 46 million of those tokens remain in the exchange's possession. CZ's possessions don't end there. The former CEO also owns 71% of the 147 million BNB now in use. In addition, he has a 90% stake in the company.
🔹 Forbes reported that Changpeng Zhao, the man behind Binance, has a net worth of $60.2 billion. CZ is now the 25th richest person in the world. Unfortunately, the former CEO of Binance was forced to resign from his position after reaching a settlement for violating the Bank Secrecy Act. Richard Teng took over as CEO of the cryptocurrency exchange.
🔹 A total of $4.3 billion in fines for Binance and $150 million for the CEO were also part of the settlement. Additionally, CZ was sentenced to four months in prison on April 30.
