The net worth of Binance founder Changpeng “CZ” Zhao shrunk by $11.9 billion on with the crypto kingpin now worth $17.3 billion and landing in 95th place on the Bloomberg Billionaires Index.
Binance CEO Changpeng Zhao’s crypto empire has fallen over 80% from its January 2022 peak of almost $97 billion.Binance’s revenue estimates by 38% amid a slump in exchange volumes which knocked Zhao down to 95th place on the rich
Zhao’s net worth is now a paltry $17.3 billion, registering an 82% drop from its $96.9 billion peak in January 2022, where he was Zhao’s net worth peaked at $96.9 billion in early 2022 before dropping alongside the crypto market. Source: Bloomberg Bloomberg’s index calculated Binance’s revenues from spot and derivatives trading data from crypto data aggregators CoinGecko and Coinpaprika.Zhao’s plummeting net worth and Binance’s fading trading volumes follow twin suits from the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission., Binance and Binance.US in June claiming the exchanges operated illegally, sold unregistered securities and mishandled customer assets with Zhao named as their “controlling person.
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