Former Binance CEO CZ reportedly owns 64% of BNB supply

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As a crypto investor with a few years of experience under my belt, I’ve seen my fair share of ups and downs in the digital currency market. The recent news about Changpeng Zhao, the former CEO of Binance and current owner of over 64% of its BNB token circulating supply, has left me both amazed and cautious.

As a researcher, I’ve come across an intriguing claim made by Forbes. According to their latest estimation, my past role as the CEO of Binance, Changpeng Zhao, has placed him among the 24 wealthiest individuals globally. This ranking is attributed primarily to his substantial holdings of BNB tokens.

According to reports, Zhao is believed to possess approximately 64% of the total Binance BNB tokens in circulation. With current token prices, this translates to a reported value of over $56 billion for the 94 million coins he allegedly holds.

The report also states that he owns an approximate 90% stake in the Binance exchange.

Despite the crypto exchange facing troubling news, leading to Zhao relinquishing a top position and serving jail time, Binance Coin (BNB) has remarkably gained ground in 2021.

The price of the cryptocurrency on CoinGecko has risen by 141% over the past 14 months, reaching a new all-time high (ATH) of $717 earlier this month. Since its launch as an initial coin offering in 2017, Binance Coin (BNB) has delivered a staggering return of over 1.49 million percent. It played a crucial role in supporting Binance’s market debut during the same year.

The S&P 500 index has achieved a remarkable return of 3,540% over the course of its history. On the other hand, cryptocurrency news outlets indicate that BNB may challenge its all-time high once more and potentially escalate further in value.

Zhao’s fortune could swell even further as he serves a four-month jail term in a California prison.

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2024-06-14 21:18