BTC

$61781.043

0.98%

ETH

$3388.596

0.40%

BNB

$580.091

1.09%

XRP

$0.475

-0.54%

News

CZ BNB Holdings Account For 64% Of Circulating Supply, Forbes Reveals

June 14, 2024 - Around 3 mins mins to read

Key Points:

  • Binance founder CZ’s net worth is $61 billion.
  • CZ owns 64% of circulating BNB tokens, worth $56.6 billion.
  • Despite legal issues, Binance’s global customer base reaches 200 million.
CZ BNB holdings reportedly reaches 64% of circulating supply, which contributes to his $61B net worth, ranking him 24th richest globally.
CZ BNB Holdings Account For 64% Of Circulating Supply, Forbes Reveals
CZ BNB Holdings Account For 64% Of Circulating Supply, Forbes Reveals

Binance founder Changpeng Zhao, better known as CZ, has largely expanded his net worth, mainly due to his holdings in the Binance Coin. Forbes estimates him to have a net worth of 61 billion, which makes him number 24 on the list of the richest people in the world.

Binance Founder’s Wealth and Influence

Two major components are concluded from CZ’s wealth. First, his 90 per cent stake in Binance is worth $33 billion, making him a billionaire even when he resigned as the company’s CEO after reaching a settlement with the U.S. of Justice over anti-money laundering and sanctions violations.

While Binance had to pay a hefty fine of $4.3 billion, CZ was hurt personally to a comparatively lesser degree and fined $50 million. Since the settlement, Binance’s market dominance increased as its share in the total spot market increased to 42% from 38% on average.

The other component of CZ’s wealth comes from his personal holdings in BNB. According to Forbes, CZ owns about 94 million BNB tokens, equivalent to 64% of the 147.5 million BNB tokens in circulation. According to the report, Binance owns 71% of the total BNB supply.

Readmore: Terraform And Kwon Agree To Pay $4.5 Billion Following Fraud Verdict

CZ BNB Holdings and the Surge in Binance Coin Value

These tokens have an estimated value of about $56.6 billion today. They form a huge portion of CZ’s fortune. Still, Forbes has applied a 50% liquidity discount on CZ’s stake because it may be hard for them to liquidate it.

Binance Coin has seen impressive growth in 2024, surging by 100% and far outperforming other top cryptocurrencies. Binance Coin recently achieved an all-time high of $714, resulting in a market capitalization of $110 billion.

Despite legal challenges, Binance continues to grow, with a claimed customer base of 200 million globally. However, transparency concerns persist due to a lack of audits and over 53% of all BNB trading occurs on Binance’s own exchange. Nonetheless, Binance’s founder continues to watch his BNB billions grow.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Changpeng Zhao BNB

Changpeng Zhao Holdings

CZ

CZ binance

CZ BNB Holdings

CZ Holdings

CZ Wealth

Avatar of Thana

Author

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.
News

CZ BNB Holdings Account For 64% Of Circulating Supply, Forbes Reveals

Key Points:

  • Binance founder CZ’s net worth is $61 billion.
  • CZ owns 64% of circulating BNB tokens, worth $56.6 billion.
  • Despite legal issues, Binance’s global customer base reaches 200 million.
CZ BNB holdings reportedly reaches 64% of circulating supply, which contributes to his $61B net worth, ranking him 24th richest globally.
CZ BNB Holdings Account For 64% Of Circulating Supply, Forbes Reveals
CZ BNB Holdings Account For 64% Of Circulating Supply, Forbes Reveals

Binance founder Changpeng Zhao, better known as CZ, has largely expanded his net worth, mainly due to his holdings in the Binance Coin. Forbes estimates him to have a net worth of 61 billion, which makes him number 24 on the list of the richest people in the world.

Binance Founder’s Wealth and Influence

Two major components are concluded from CZ’s wealth. First, his 90 per cent stake in Binance is worth $33 billion, making him a billionaire even when he resigned as the company’s CEO after reaching a settlement with the U.S. of Justice over anti-money laundering and sanctions violations.

While Binance had to pay a hefty fine of $4.3 billion, CZ was hurt personally to a comparatively lesser degree and fined $50 million. Since the settlement, Binance’s market dominance increased as its share in the total spot market increased to 42% from 38% on average.

The other component of CZ’s wealth comes from his personal holdings in BNB. According to Forbes, CZ owns about 94 million BNB tokens, equivalent to 64% of the 147.5 million BNB tokens in circulation. According to the report, Binance owns 71% of the total BNB supply.

Readmore: Terraform And Kwon Agree To Pay $4.5 Billion Following Fraud Verdict

CZ BNB Holdings and the Surge in Binance Coin Value

These tokens have an estimated value of about $56.6 billion today. They form a huge portion of CZ’s fortune. Still, Forbes has applied a 50% liquidity discount on CZ’s stake because it may be hard for them to liquidate it.

Binance Coin has seen impressive growth in 2024, surging by 100% and far outperforming other top cryptocurrencies. Binance Coin recently achieved an all-time high of $714, resulting in a market capitalization of $110 billion.

Despite legal challenges, Binance continues to grow, with a claimed customer base of 200 million globally. However, transparency concerns persist due to a lack of audits and over 53% of all BNB trading occurs on Binance’s own exchange. Nonetheless, Binance’s founder continues to watch his BNB billions grow.

DISCLAIMER: The information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
Visited 88 times, 1 visit(s) today