- Zhao topped the list because Binance’s stock was deemed worth so much.
- Zhao has never specified how many Binance shares he holds.
Binance is the world’s biggest cryptocurrency exchange in terms of the daily trading volume of cryptocurrencies. It debuted in 2017 and is based in the Cayman Islands. Changpeng Zhao, a high-frequency trading software engineer, started Binance.
One source recently stated that Binance Founder and CEO Changpeng “CZ” Zhao is the wealthiest ethnic Chinese alive, while another recently questioned the original study’s premise. Yijian Finance questioned the initial publication by Caijing Magazine on the matter. Zhao topped the list because Binance’s stock was deemed worth so much, according to an article from Caijing Magazine.
Caijing Magazine said that Zhao owned 30% of Binance, citing anonymous “insiders” and previously published Forbes information that Binance was valued at USD 300bn. It stated the Binance Founder was worth USD 90 billion. Binance’s daily trading volume has also surpassed USD 76 billion.
100% Net Worth in Crypto
Zhao has never specified how many Binance shares he holds. Valuations without liquidity [don’t] mean much.”,” Zhao said on Weibo immediately after the Ciajiing Magazine riches list was released, in apparent response.
The article’s timing is strange, the author claims, citing China’s restriction on virtual currencies. The author accused Caijing Magazine of increasing online traffic by portraying Zhao as a rich person. Some Chinese netizens believe Zhao’s true riches lie in his crypto assets. 100% of my net worth is invested in crypto, he has said before.