CZ Owns 64% of BNB Circulating Supply — Report
According to a report by Forbes, former Binance CEO Changpeng Zhao (CZ) owns 64% of the circulating supply of Binance Coin (BNB), equivalent to about 94 million tokens.
Analysis from Gray Wolf Analytics shows that 80 million BNB tokens were allocated to the Binance founding team, and the company still controls 46 million of them. Binance and CZ together hold 71% of the 147 million BNB in circulation.
With a 90% stake in Binance and cryptocurrency value, CZ's net worth is estimated at $61 billion, ranking him as the 24th richest person in the world.
BNB is the native token of the Binance exchange, used to pay fees and rewards on the platform. With a maximum supply of 200 million and over 153 million tokens in circulation, BNB has a market capitalization of over $91 billion at a price of $593 per token. Since January 2024, the BNB price has increased from around $290 to a peak of $724 in June.
Token data and price of Binance's BNB token. Source: CoinGecko
Token data and price of Binance's BNB token. Source: CoinGecko
In 2023, the US Department of Justice accused Zhao and Binance of violating sanctions and money laundering laws. Zhao signed a plea agreement, relinquished his leadership role at Binance, and was replaced by Richard Teng.
The agreement includes a $50 million fine for Zhao and a $4.3 billion fine for Binance. The DOJ also appointed the Forensic Risk Alliance to oversee Binance for three years. Zhao was sentenced to four months in prison on April 30, less than the three years recommended by prosecutors.#EarnFreeCrypto2024 #BinanceTournament
According to a report by Forbes, former Binance CEO Changpeng Zhao (CZ) owns 64% of the circulating supply of Binance Coin (BNB), equivalent to about 94 million tokens.
Analysis from Gray Wolf Analytics shows that 80 million BNB tokens were allocated to the Binance founding team, and the company still controls 46 million of them. Binance and CZ together hold 71% of the 147 million BNB in circulation.
With a 90% stake in Binance and cryptocurrency value, CZ's net worth is estimated at $61 billion, ranking him as the 24th richest person in the world.
BNB is the native token of the Binance exchange, used to pay fees and rewards on the platform. With a maximum supply of 200 million and over 153 million tokens in circulation, BNB has a market capitalization of over $91 billion at a price of $593 per token. Since January 2024, the BNB price has increased from around $290 to a peak of $724 in June.
Token data and price of Binance's BNB token. Source: CoinGecko
Token data and price of Binance's BNB token. Source: CoinGecko
In 2023, the US Department of Justice accused Zhao and Binance of violating sanctions and money laundering laws. Zhao signed a plea agreement, relinquished his leadership role at Binance, and was replaced by Richard Teng.
The agreement includes a $50 million fine for Zhao and a $4.3 billion fine for Binance. The DOJ also appointed the Forensic Risk Alliance to oversee Binance for three years. Zhao was sentenced to four months in prison on April 30, less than the three years recommended by prosecutors.#EarnFreeCrypto2024 #BinanceTournament