Binance founder Zhao Changpeng (CZ), despite being jailed, has not lost his wealth. According to Forbes, CZ’s net worth is currently estimated at around $61 billion, ranking him as the 24th richest person globally.
After being sentenced to four months in prison by Judge Richard Jones on May 1 for violating US anti-money laundering laws, CZ reported to a federal prison in California on June 1 to begin his sentence.
CZ’s net worth estimated at $61 billion makes him the 24th wealthiest person globally. Even though he is in prison, this does not hinder him from being the richest person in the crypto field. According to Forbes’ report yesterday (14th), CZ’s net worth has further increased to $61 billion (up from $43 billion at the end of last year), placing him as the 24th top billionaire globally, just behind American socialite Julia Koch and her family.
Forbes pointed out that the significant change in CZ’s net assets mainly comes from his holdings of BNB. The report estimated that the current circulation of BNB is 1.475 billion, with Binance owning 71% of the BNB supply. As the founder of Binance, although CZ has resigned as CEO, he still holds 90% of Binance’s equity. Therefore, CZ is estimated to hold a total of 94 million BNB, accounting for 64% of the current circulation.
However, owning 94 million BNB does not mean CZ can cash them all out. Firstly, this is held by Binance, and secondly, such a large quantity is not something the market can easily absorb. He has previously stated that Binance will not sell BNB, but will continue to burn them.
BNB reached a new all-time high before falling to $600
Although Binance has faced regulatory challenges in various countries due to compliance issues, in this bull market cycle, Binance has relied on its influence and Launchpool new coin mining activities to continually boost BNB. BNB reached a new all-time high on June 6, breaking $720.
Although BNB has fallen to $603 at the time of writing, if this bull market is not yet over, CZ’s net worth may continue to rise.