This Crypto CEO is now among the richest in the world

Binance CEO Changpeng Zhao is now the 11th richest person on the planet, according to a Bloomberg report.

The 44-year-old, commonly known as CZ, is currently worth around $ 96 billion. He has passed Mukesh Ambani, Asia’s richest billionaire, and is almost on par with Facebook founder Mark Zuckerberg, who is worth $ 124 billion.

Bloomberg estimates that Zhao owns around 90% of Binance. His approximation, however, does not take into account his personal holdings of cryptocurrencies such as bitcoin and the Binance coin.

Binance Coin is the third largest cryptocurrency in the world by market capitalization, according to Bankrate.

Other notable crypto founders who recently turned billionaires are Coinbase CEO Brian Armstrong and Ethereum founder Vitalik Buterin. Satoshi, the name used by the allegedly unidentified person who created Bitcoin, is worth $ 45.8 billion, according to Business Insider.

A Binance spokesperson told CNN Business that “CZ intends to give up most of its wealth, even 99% of its wealth, just like other entrepreneurs and founders.”

Despite seemingly significant setbacks, such as major restrictions in Canada and the UK, Zhao believes that “more regulations are, in fact, positive signs that an industry is maturing … because it lays the foundation for a larger population. wide to feel safe participating in crypto. “

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