{"id":77926,"date":"2023-04-27T11:37:41","date_gmt":"2023-04-27T08:37:41","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=77926"},"modified":"2025-09-11T02:03:20","modified_gmt":"2025-09-10T23:03:20","slug":"bloomberg-puts-binance-chiefs-wealth-at-28-2-billion","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/bloomberg-puts-binance-chiefs-wealth-at-28-2-billion\/","title":{"rendered":"Bloomberg puts Binance chief&#8217;s wealth at $28.2 billion"},"content":{"rendered":"<p>Binance chief Changpeng Zhao (CZ) ranked third in Bloomberg&#8217;s &#8220;25 Financial Titans&#8221; list, with a net worth of $28.2 billion, according to <a href=\\\"https:\/\/www.bloomberg.com\/features\/2023-new-finance-rich-list\/?ll_push_args=%7B%22utm_source%22:%22push%22,%22utm_medium%22:%22notification%22%7D&#038;leadSource=uverify%20wall\\\">Bloomberg<\/a>.<\/p>\n<p>\\n\\n<\/p>\n<p>The publication estimates the annual revenue of the largest cryptocurrency exchange at over $12 billion.<\/p>\n<p>\\n\\n<\/p>\n<p>Journalists recalled that Zhao became acquainted with digital currency thanks to entrepreneur Bobby Lee during a poker game in Shanghai. Before founding Binance, the entrepreneur worked at Bloomberg Tradebook, and later joined Fusion Systems, a platform specializing in trading systems.<\/p>\n<p>\\n\\n<\/p>\n<p>Crypto journalist Colin Wu speculated that the figures may be unreliable, given that the exchange does not publish its financial data or CZ&#8217;s stake.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">According to Bloomberg\u2019s latest selection, Binance founder Zhao Changpeng is worth of $28.2 billion, and Bloomberg estimates that Binance\u2019s annual revenue is about $12 billion. Considering that Binance does not publish its financial data and CZ\u2019s stake, this data may be\u2026<\/p>\n<p>\u2014 Wu Blockchain (@WuBlockchain) <a href=\\\"https:\/\/twitter.com\/WuBlockchain\/status\/1651393441723731968?ref_src=twsrc%5Etfw\\\">April 27, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n<\/p>\n<p>Zhao himself took to Twitter to dispute Bloomberg\u2019s data, saying that \u201call the figures are wrong\u201d and that he \u201cdoesn&#8217;t have nearly that much\u201d money.<\/p>\n<p>\\n\\n<\/p>\n<blockquote class=\\\"twitter-tweet\\\">\n<p dir=\\\"ltr\\\" lang=\\\"en\\\">4<\/p>\n<p>Numbers all wrong. I don\u2019t have anywhere near as much. Don\u2019t know why they do this. ?\u200d\u2642\ufe0f<\/p>\n<p>Also, never viewed FTX as a rival. We welcome more (well run) exchanges in the space. <a href=\\\"https:\/\/t.co\/xfa31RZp7t\\\">pic.twitter.com\/xfa31RZp7t<\/a><\/p>\n<p>\u2014 CZ ? Binance (@cz_binance) <a href=\\\"https:\/\/twitter.com\/cz_binance\/status\/1651467819400278016?ref_src=twsrc%5Etfw\\\">April 27, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\\\"\\\" src=\\\"https:\/\/platform.twitter.com\/widgets.js\\\" charset=\\\"utf-8\\\"><\/script>\\n\\n<\/p>\n<p>Other digital giants on Bloomberg&#8217;s list include:<\/p>\n<p>\\n\\n<\/p>\n<ul class=\\\"wp-block-list\\\">\n<li>Ken Griffin \u2014 the wealthiest person on the list, with a net worth of $35 billion. He built his wealth through the hedge fund Citadel and market maker Citadel Securities;<\/li>\n<li>Jeff Yass \u2014 founder of Susquehanna, with an estimated fortune of $33.1 billion. He is reportedly an investor in <a href=\"https:\/\/u1f987.com\/en\/news\/exchange-founded-by-3ac-founders-reveals-its-leading-investors\">OPNX<\/a> and KuCoin;<\/li>\n<li>Uday Kotak \u2014 Indian banker, with a net worth of $13 billion. His Kotak Mahindra Bank was among the first in the country to use digital assets;<\/li>\n<li>Chase Coleman \u2014 founder of Tiger Global, with a net worth of $6 billion. His fund invested in <a href=\"https:\/\/u1f987.com\/en\/news\/ftx-group-files-for-bankruptcy-sam-bankman-fried-resigns-as-ceo\">the fallen FTX<\/a>;<\/li>\n<li>Todd Boehly \u2014 chairman of Chelsea FC, with a net worth of $6.4 billion. His firm Eldridge has invested in Blockchain.com and Cross River.<\/li>\n<\/ul>\n<p>\\n\\n<\/p>\n<p>Earlier, on March 27, the U.S. Commodities Futures Trading Commission (CFTC) <a href=\"https:\/\/u1f987.com\/en\/news\/cftc-files-suit-against-binance-and-changpeng-zhao\">filed<\/a> a lawsuit against Binance and Zhao. The regulator accused the crypto exchange of \u201cwillful evasion of U.S. law\u201d and non-compliance with rules.<\/p>\n<p>\\n\\n<\/p>\n<p>In response, CZ <a href=\"https:\/\/u1f987.com\/en\/news\/changpeng-zhao-calls-cftc-lawsuit-unexpected-and-disappointing\">stated<\/a> that the CFTC\u2019s allegations contain \u201cincomplete account of the facts,\u201d and that his company disagrees with many of the points.<\/p>\n<p>\\n\\n<\/p>\n<p>In April, the exchange\u2019s U.S. arm <a href=\"https:\/\/u1f987.com\/en\/news\/binance-us-withdraws-bid-to-buy-voyager-digital-assets\">terminated<\/a> the asset-purchase agreement for <a href=\"https:\/\/u1f987.com\/en\/news\/voyager-digital-files-for-chapter-11-bankruptcy\">Voyager Digital, the bankrupt crypto broker undergoing bankruptcy proceedings<\/a>. The company cited a \u201chostile and uncertain regulatory climate in the United States.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Binance chief Changpeng Zhao (CZ) ranked third on Bloomberg&#8217;s &#8220;25 Financial Titans&#8221; list with a net worth of $28.2 billion.<\/p>\n","protected":false},"author":1,"featured_media":77927,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[744,935],"class_list":["post-77926","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-binance","tag-changpeng-zhao"],"aioseo_notices":[],"amp_enabled":true,"views":"17","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77926","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=77926"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77926\/revisions"}],"predecessor-version":[{"id":77928,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/77926\/revisions\/77928"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/77927"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=77926"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=77926"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=77926"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}