Binance CEO Worth $96 Billion, Now Wealthiest Crypto Billionaire: Bloomberg

Updated:

Bloomberg has named Binance CEO Changpeng Zhao the wealthiest crypto billionaire, placing his net worth at a staggering $96 billion. Zhao, CZ, now worths more than Indian business tycoon Mukesh Ambani, who, according to the Bloomberg Billionaire Index, has a net worth of $92.9 billion.

The recent valuation now puts CZ close to juggernauts like Warren Buffet and Mark Zuckerberg. That said, many have argued that CZ’s net worth could be more than Bloomberg proposes considering that little is known about his crypto holdings.

The Binance CEO, who worked as a McDonald’s attendant as a teenager, has avoided making the correct size of his fortune known and has said he would give away his entire wealth.

Meanwhile, The Wall Street Journal recently claimed that Binance could get a valuation of up to $300 billion should it go public. The behemoth exchange recorded annual revenue of $20 billion in 2021, eclipsing expectations of its US-based rival Coinbase.

However, Binance has questioned the accuracy of Bloomberg’s ratings, noting that crypto is too volatile to make concrete estimates. Also, the exchange battled a slew of regulatory inquests last year.

Moving on, FTX CEO Sam Bankman-Fried and Coinbase CEO Brian Armstrong come in second and third position based on wealthiest crypto billionaires, with $15.4 billion and $8.93 billion, respectively.

Key Binance Coin Levels to Watch —January 10

Binance Coin (BNB) resumed its downward spiral on Monday, as it became apparent that bears are now in control of the market bias. BNB now trades along my multi-month-long descending trendline towards the $410 – $400 support area.

BNBUSD – Daily Chart on BinanceUS. Source: TradingView

That said, I expect to see a bearish continuation over the coming days along the trendline as we continue to witness a breakdown of the bull cycle.

Meanwhile, my resistance levels are 436, $450, and $460, and my support levels are $410, $380, and $350.

Total Market Capitalization: $1.91 trillion

Binance Coin Market Capitalization: $70.8 billion

Binance Coin Dominance: 3.7 %

Market Rank: #4

 

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Azeez Mustapha

Azeez Mustapha is a trading professional, currency analyst, signals strategist, and funds manager with over ten years of experience within the financial field. As a blogger and finance author, he helps investors understand complex financial concepts, improve their investing skills, and learn how to manage their money.