Recent reports revealed that Changpeng Zhao (CZ), the former CEO of Binance, owns a huge stake in BNB coins, estimated at 94 million coins, equivalent to about 64% of the total circulating supply on the platform.
According to a forensic analysis by Forbes, CZ controls more than half of the 80 million coins he and his founding team acquired when Binance launched.
During the initial coin offering (ICO) in 2017, 100 million BNB tokens were allocated for crowdsale.
However, a Forbes analysis showed that the offering was lower than expected, with only less than 11 million coins sold at the time, while the rest ended up in wallets under Binance's control.
CZ's stake in Binance is estimated at around $33 billion, bringing his total net worth to more than $61 billion according to Forbes.
This makes him among the 24 richest people in the world.
For comparison, the net worth of Coinbase CEO Brian Armstrong is only $11 billion.
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