According to research by Gary Wolf Analytics, more than half of the circulating BNB supply is owned by Changpeng Zhao, former CEO of Binance. The report revealed that CZ holds a total of 94 million BNB, equivalent to 64% of Binance Coin’s entire supply.
Binance’s founding team was awarded a total of 80 million BNB tokens from a total supply of 200 million BNB during the company’s founding in 2017. Currently, the exchange still owns 46 million of those tokens. CZ’s assets don’t end here. The former CEO also holds 71% of the 147 million BNB currently in use. In addition, he also has 90% shares in the company.
Networth of CZ
Forbes reported that Changpeng Zhao, the man behind Binance, is worth $60.2 billion. CZ is currently the 25th richest person in the world. Sadly, however, the former CEO of Binance was forced to resign after entering a plea deal for violating the Bank Secrecy Act. Richard Teng takes over as CEO of the cryptocurrency exchange.
A total fine of $4.3 billion for Binance and $150 million for the CEO were also part of the settlement. In addition, CZ was sentenced to 4 months in prison on April 30.
