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Binance CEO Reportedly Worth $96B

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Binance CEO Changpeng Zhao. CryptoMonedaseICOs

Changpeng “CZ” Zhao, CEO of the largest crypto exchange by trading volume, is now one of the richest people on the planet, with an estimated net worth of $96 billion, Bloomberg reported on January 9.

According to the publication, the CEO of Binance estimated that $96 billion would rank him as the 11th richest person in the world, rivaling other tech billionaires such as Mark Zuckerberg, Larry Page and Sergey Brin. According to Bloomberg Billionaires Index estimates, Zhao’s fortune appears to exceed that of Asia’s richest person Mukesh Abani, president of Reliance Industries.

The fortune of the 44-year-old crypto entrepreneur has been estimated assuming that Zhao owns 90% of Binance, which is based on his public statements and regulatory filings. While this is the first time that Zhao has estimated his fortune, it is possible that he has more because the $94 billion figure does not include his personal holdings of cryptocurrencies, such as Bitcoin (BTC) or Binance Coin (BNB), the tokens of the exchange.

It should come as no surprise that Zhao is among the richest men on the planet, considering that his exchange registered $56.5 billion in trading volume in the past 24 hours according to data from CoinMarketCap. Bloomberg’s analysis of Binance’s trading volume and fees also estimated that the exchange “generated at least $20 billion in revenue last year.”

The exchange’s growth and success can be attributed to its ongoing efforts to obtain operating licenses across various jurisdictions, with the latest target being Indonesia, where Binance is said to be working on a new crypto project. The exchange is no stranger to acquisitions, as it recently completed the acquisition of the Visa card provider Swipe, which began in July.

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