$BTC CEO Changpeng Zhao was jailed but Binance's luck is not over: 40 million new users, about to become a 'money printing machine', can collect 9.8 billion USD/year, personally run by CZ's wife
Binance's fortunes will increase after the cryptocurrency witnessed a meteoric rise.
Now it's time for Binance CEO Changpeng "CZ" Zhao to ask for forgiveness, but prosecutors are unwilling to accept. In the file, he was recommended to be sentenced to 3 years in prison for his actions.
However, despite the severity of the allegations, the company that Zhao built continues to thrive as the most important cryptocurrency exchange. Binance could become a money-printing machine during the boom, as Bitcoin hit a record high last month.
In 2023, Binance added more than 40 million new users, an increase of 30% compared to the previous year. Customer holdings on the exchange also increased to more than 100 billion USD. According to estimates by an American newspaper, the company could earn $9.8 billion in revenue in the 12 months through March. Andy Goldin, global head of data and analytics at Binance, said in a interview: “It's really the ETFs that are helping to drive a lot of the activity.”
Binance's persistence largely comes from the fact that traders view the company and Zhao very differently than FTX. After his cryptocurrency empire collapsed, Bankman-Fried tried to stay out of trouble but was unable to defend himself at trial. On the other hand, Zhao pleaded guilty, cooperated with the government and remained silent
The most obvious change is Zhao giving up his role as a public face. He has become extremely humble since pleading guilty.
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