Binance Coin's Price Fluctuation and Changpeng Zhao's Assets
Binance Coin (BNB) attracted a lot of attention by reaching its all-time high of $720 at the beginning of this month. However, BNB could not maintain its upward trend, falling below $600 after a short time. Currently trading around $580, BNB has fallen by approximately 19% from its peak price. General expectations are that the highest price level may be reached again soon.
CZ's Binance Coin Assets
A new report published by Gary Wolf Analytics shows that more than half of the circulating Binance Coin supply belongs to Changpeng Zhao (CZ), former CEO of Binance. The report states that CZ owns a total of 94 million BNB, or 64% of Binance Coin's total supply. Binance's founding team was given 80 million BNB tokens out of a total supply of 200 million BNB during the company's founding in 2017. Currently, 46 million of these tokens are held by the exchange. CZ's ownership is not limited to this; It owns 71% of the 147 million BNB currently in use. It is also stated that he owns a 90% share in the company.
According to Forbes, Binance founder Changpeng Zhao's assets are estimated at $60.2 billion, making him the 25th richest person in the world. As previously reported, CZ was forced to resign as CEO after entering into a plea agreement for violating the Bank Secrecy Act. Richard Teng took over as the new CEO of the cryptocurrency exchange. A total fine of $4.3 billion was imposed on Binance and $150 million on CZ. Additionally, CZ was sentenced to four months in prison on April 30.
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So who will benefit?
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I EXPLAIN IN DETAIL.
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Enter the Futures Section from your application,
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WHEN WILL THE AWARD COME?
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