The founder of Binance, Changpeng Zhao (CZ), continues to make headlines despite his current incarceration. After being sentenced to four months in prison on May 1st for violating U.S. anti-money laundering regulations, CZ began serving his term at a federal prison in California on June 1st.
CZ's $61 Billion Fortune: A Closer Look
Even behind bars, CZ remains the wealthiest figure in the cryptocurrency space. According to a recent Forbes report, his net worth has surged to an estimated $61 billion** (up from $43 billion in late 2023), securing his position as the 24th richest person globally**—just behind American socialite Julia Koch and her family.
The BNB Factor
Forbes attributes this dramatic wealth increase primarily to CZ’s holdings of Binance Coin (BNB). Key findings from the report:
- BNB circulating supply: 147.5 million tokens
- Binance's share: 71% of total BNB supply
- CZ's estimated holdings: 94 million BNB (64% of circulating supply)
👉 Discover how BNB’s ecosystem fuels its growth
While CZ stepped down as Binance’s CEO, he retains 90% ownership of the exchange, giving him indirect control over its vast BNB reserves.
Important Note:
The 94 million BNB doesn’t equate to liquid assets. Binance has publicly stated it won’t sell its BNB holdings, focusing instead on periodic token burns to reduce supply.
BNB’s Market Performance: Peaks and Corrections
Despite regulatory challenges across multiple jurisdictions, Binance’s influence and its Launchpool new token mining campaigns have driven BNB’s price upward. On June 6th, BNB hit an all-time high of $720** before retracing to **$603 at press time.
Market Outlook:
If the current bull cycle persists, CZ’s net worth could climb further alongside BNB’s valuation.
FAQ Section
Q: How did CZ accumulate 94 million BNB tokens?
A: As Binance’s founder and majority shareholder, CZ indirectly controls the exchange’s BNB reserves, which constitute 71% of the total supply.
Q: Can CZ sell his BNB holdings?
A: Unlikely. Binance commits to holding (not selling) BNB and uses token burns to manage supply. Market liquidity also limits large-scale sales.
Q: What factors influence BNB’s price?
A: Key drivers include Binance’s ecosystem growth, Launchpool activities, crypto market trends, and broader adoption of the BNB Chain.
👉 Explore BNB’s utility across DeFi platforms
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