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Changpeng Zhao's net worth increased by $25 billion in 2023

Market and Events: Changpeng Zhao's net worth increased by $25 billion in 2023

In 2023, Changpeng Zhao, known as CZ, has significantly increased his wealth. According to Bloomberg's Billionaires Index, his personal wealth skyrocketed by almost 25 billion dollars.

It is important to emphasize that this jump can be primarily attributed to his controlling stake in Binance, which is recognized as the largest and most popular cryptocurrency exchange in the world.

In addition, it is worth noting that CZ also owns #Bitcoin and #BNB, Binance's native cryptocurrency. However, these assets are not counted in Bloomberg's valuation.

Currently, Changpeng Zhao's total wealth is estimated to be around $37 billion, which puts him at number 35 on the list of the world's richest people.

The connection between Changpeng Zhao and Binance brings the beneficiary a multi-billion dollar fortune. Zhao recently pleaded guilty to violating #anti-money laundering laws and resigned as CEO of Binance. He also agreed to pay a sum of $50 million in addition to the $4.3 billion fine imposed on Binance by #US authorities.

Despite these legal challenges, his fortune continues to grow, highlighting #Binance's significant influence on the cryptocurrency sector. Although #Changpeng Zhao's fortune peaked in 2022, it currently falls short of the staggering figure of nearly $97 billion. But the current market is showing bullish sentiment, so it is possible that the capital of the former head of the largest cryptocurrency exchange will also show new peaks.

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