Bloomberg: Net Worth of Binance CEO $28.2 Billion

Changpeng Zhao (CZ), CEO of Binance Crypto Exchange, ranked third in the ranking of “25 financial titans” with a capital of $ 28.2 billion according to Bloomberg.

According to the publication’s calculations, the annual income of the largest crypto exchange exceeds $12 billion.

The journalists recalled that Zhao was introduced to digital currency through entrepreneur Bobby Lee while playing poker in Shanghai. Prior to founding Binance, the businessman worked at Bloomberg Tradebook and later joined trading systems platform Fusion Systems.

Crypto journalist Colin Wu suggested that the data may not be reliable because the exchange does not publish its financial performance and CZ share.

Zhao himself on his Twitter denied the Bloomberg information. He stated that “all the figures are wrong” and he “does not even close that much” funds.

Other digital giants on Bloomberg’s list include:

  • Ken Griffin is the richest person on the list with a net worth of $35 billion. He made his fortune thanks to hedge fund Citadel and market maker Citadel Securities;
  • Jeff Yass – the founder of Susquehanna is worth $33.1 billion. He is allegedly one of the investors in OPNX and KuCoin;
  • Uday Kotak is an Indian banker with $13 billion. His organization, Kotak Mahindra Bank, was one of the first in the country to use digital assets;
  • Chase Coleman is the founder of Tiger Global with a capital of $6 billion. His fund invested in the collapsed FTX;
  • Todd Ball is the $6.4 billion chairman of Chelsea FC. His firm, Eldridge, has invested in and Cross River.

On March 27, the US Commodity Futures Trading Commission (CFTC) filed a lawsuit against Binance and Zhao. The regulator accused the crypto exchange of “deliberate evasion of US law” and non-compliance with the rules.

In response, CZ said the CFTC’s claims were “incomplete facts” and his company disagreed with the characterization of many of the items.

In April, the American division of the exchange terminated the agreement to purchase the assets of the crypto broker Voyager Digital, which is going through bankruptcy proceedings. The company cited a “hostile and uncertain regulatory climate in the US.”

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