LIVE
The founder of Binance is a billionaire. And it is possible that his wealth will increase even more after serving his prison sentence
Changpeng Zhao has a fortune of around $40 billion
Changpeng Zhao, also known as “CZ,” will become the richest person to go to jail in the United States.Collect Your Crypto Here The founder of Binance, who according to the Bloomberg Billionaires Index has a net worth of around $40 billion, could find himself with an even greater fortune after serving his sentence.
The businessman of Chinese origin who became a Canadian national was recently sentenced to four months in prison. Justice concluded that it prioritized the growth of Binance over compliance with the anti-money laundering regulations to which the country's financial institutions are subject.
A sentence that should not affect your
heritage
The sentence announced last Tuesday became the conclusion of a long judicial process that complements Zhao's resignation as head of Binance and the payment of two fines: a personal fine of $50 million and a fine by the platform. of cryptocurrencies that is around 4,000 million dollars.
Now, the measures of Justice do not go much further than what was mentioned. This means that Zhao continues to control all of his assets, including his stake in Binance. For the experts consulted by CNBC, there are reasons to believe that his fortune will increase over time, even after the conviction.
