Binance founder Changpeng Zhao was released early on September 27, and the prices of Bitcoin (BTC) and Binance’s BNB (BNB) tokens have fallen slightly since the start of the trading day.

According to a Forbes report, Zhao holds 64% of the total BNB supply, making the entrepreneur’s net worth around $61 billion as of June 2024, making him the 24th richest person in the world. Zhao’s large holdings in Binance’s native currency have raised concerns about the centralization of the token.

The US Department of Justice (DOJ) announced charges against Binance and Zhao in 2023 for allegedly violating the Bank Secrecy Act. Following these developments, the price of BNB increased by 7%. The $4 billion settlement between Binance and the SEC requires independent monitoring of Binance’s business operations.

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