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Mr. CZ’s assets
The assets of Changpeng Zhao (CZ), the former CEO of the crypto asset (virtual currency) exchange Binance, increased by $24.6 billion (approximately 3.5 trillion yen) in 2023.
His current holdings are $37.2 billion (approximately 5.3 trillion yen), but according to Bloomberg, which estimates this amount, it does not include BNB and Bitcoin (BTC) held by CZ.
In addition to publishing a web page listing the richest people, Bloomberg also published an article on CZ’s assets on the 26th. Among them, it is reported that CZ’s assets are mainly Binance shares.
CZ stepped down as CEO in November when Binance settled with regulators after admitting to violating U.S. law. At that time, the company was fined a total of $4.36 billion, but in 2023, he increased his wealth by more than five times this amount.
connection: Binance’s CZ officially announces retirement as CEO, explains successor and future plans
Meanwhile, CZ’s wealth peaked in early 2022, according to the same data from Bloomberg. At that time, his assets were approximately $97 billion (approximately 13.8 trillion yen at current exchange rates).
CZ is currently ranked 35th on Bloomberg’s ranking of the richest people. In first place is Elon Musk, who heads social media giant X (formerly Twitter) and other companies, with assets of $232 billion (approximately 33 trillion yen).
connection: Elon Musk: “I don’t have much time to think about virtual currencies”
What is Binance?
Operates a major virtual currency exchange with a large number of stocks, trading volumes, and registered users. The company also engages in a wide range of other businesses, including venture capital activities, providing educational content, and philanthropic activities. In November 2022, the company announced its entry into the Japanese market.
Virtual currency glossary
connection: Binance expands into Japan What is “Binance Japan (tentative name)”?Thorough explanation of expectations and impacts
someone else’s assets
In addition to CZ, in the cryptocurrency industry, Brian Armstrong, CEO of the US exchange Coinbase, and the Winklevoss brothers, who founded Gemini, have also increased their wealth.
In 2023, Armstrong increased his net worth by $5.77 billion to $7.25 billion (approximately 1 trillion yen). He is ranked 341st in the ranking of the richest people.
Although the Winklevoss brothers are not named in the list, Cameron and Tyler each increased their wealth by $1.4 billion, bringing their total wealth to $2.7 billion.
The rise in the virtual currency market toward the end of 2023 appears to have been a major factor in increasing the assets of Mr. CZ and others.
The post Former Binance CEO CZ’s assets increased by approximately 3.5 trillion yen in 2023 – Bloomberg appeared first on Our Bitcoin News.
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