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Binance CEO Changpeng Zhao Is Now The Richest Man In Asia With $96 Billion Net Worth

Binance CEO Changpeng Zhao Is Now The Richest Man In Asia With $96 Billion Net Worth

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Binance CEO Changpeng Zhao Is Now The Richest Man In Asia With $96 Billion Net Worth

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Binance CEO Changpeng Zhao Is Now The Richest Man In Asia With $96 Billion Net Worth

Binance’s CEO, Changpeng Zhao, has risen to the top of the world’s wealthiest person list. The 44-year-old Bitcoin pioneer is said to have amassed a net worth of over $96 billion, comfortably placing him among the world’s top 15 wealthiest persons.

 

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With a net worth of over $96 billion, he has eclipsed Mukesh Ambani, a fellow Asian billionaire and the former richest man in Asia. He’s also tracking the fortunes of IT titans like Mark Zuckerberg and Larry Page and Sergey Brin, the creators of Google.

CZ, as he is known among Cryptophiles, may have a far higher net worth than the sum presented, as the estimate excludes his personal crypto holdings, which include Bitcoin and his firm’s own token (Binance coin), which has seen a 1,250 per cent increase in value in the last year alone.

Binance CEO Now The Richest Man In Asia 

Binance has made $20 billion in revenue in the last year alone. This is more than three times what Coinbase Global, a publicly-traded crypto company with a market capitalization of $50 billion, made in the same year.

 

According to the CEO, Binance handles more trade than the following four largest cryptocurrency exchanges combined. Binance recently completed $170 billion in transactions in less than 24 hours, and would transact roughly $40 billion on a slow day, representing a massive increase over the $10 billion reported two years ago.

 

The crypto giant’s success has not gone unnoticed by many governments, as the firm has been the target of consumer warnings in the United Kingdom, Japan, and Germany. A Canadian securities regulator fined the company on December 30, 2021, for misleading customers on its trading platform that it was authorized to continue operations in the nation despite the fact that it still required a registration.

Changpeng Zhao Now The Richest In Asia 

Similarly, the corporation is currently facing a ban in China, its home nation, as well as regulatory investigations around the world. Binance Holdings is being investigated by the US Department of Justice and the Internal Revenue Service to see if it is a conduit for money laundering and tax evasion.

 

The Billionaire, on the other hand, is taking it all in stride, saying, “I’m not an anarchist; I don’t believe human civilization has progressed sufficiently to live in a society without regulations.”

Although cryptocurrency fortunes are extremely fickle, as seen by bitcoin’s 14.35 per cent year-to-date decline, the billionaire is apparently currently in the United Arab Emirates, meeting with the aristocracy in Abu Dhabi who are anxious to bring his Binance exchange into the country.

 

As he declared, “I don’t care about wealth, money, or rankings,” and that he is willing to give away virtually all of his billion-dollar fortune before he dies, the crypto billionaire may be doing all of this out of pure enthusiasm.

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