Changpeng Zhao Owns 64% of Binance Coin, Worth $61 Billion
According to a recent Forbes report, Changpeng Zhao (CZ), the former CEO of Binance, owns a significant 64% of all circulating Binance Coin (BNB) tokens, which amounts to about 94 million tokens.
Gray Wolf Analytics conducted an investigation revealing that Binance’s founding team initially received 80 million BNB tokens, with the company still holding onto 46 million of those original tokens. Combined, Zhao and Binance control 71% of the 147 million BNB tokens currently in circulation.
With each BNB valued at approximately $602, the total circulating supply exceeds $91 billion. Zhao’s substantial stake in Binance and his crypto holdings have elevated him to the 24th richest person globally, with a net worth of $61 billion.
READ MORE: Bernstein Analysts Predict Bitcoin to Hit $200K by 2025
BNB has seen a price increase from around $290 in January to a peak of $724 this month.
This report follows Zhao’s legal issues with the U.S. Department of Justice (DOJ) in 2023, where he faced charges for alleged sanctions violations and money laundering. This led to a guilty plea, a $50 million fine, and a four-month prison sentence.
Alexander Stefanov
Reporter at CoinsPress
Alex is an experienced finance journalist and a cryptocurrency and blockchain enthusiast. With over five years of experience covering the industry, he deeply understands the complex and constantly evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His passionate approach allows him to break down complex ideas into accessible and insightful content. Follow up on his content to be up to date with the most important trends and topics - stay ahead of the curve with CoinsPress.
