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Changpeng Zhao's Dominance in Binance Coin Ownership

Jun 15, 2024

According to a recent Forbes report, Changpeng Zhao (CZ), the former head of Binance, holds a significant share of 64% of all circulating Binance Coin (BNB) tokens, which equals approximately 94 million tokens. Investigations by Gray Wolf Analytics have revealed that the original Binance founding team received 80 million BNB tokens, with the company still retaining control over 46 million of these tokens. Surprisingly, Zhao and Binance collectively possess 71% of the total 147 million BNB tokens currently in circulation. Each BNB token is currently valued at around $602, resulting in a total circulating supply worth over $91 billion. Zhao's 90% ownership in Binance, combined with his cryptocurrency investments, has elevated him to the 24th wealthiest individual worldwide, with a staggering net worth of $61 billion. Furthermore, BNB's price has been on the rise, climbing from about $290 in January to peaks of $724 recently. These findings come in the context of Zhao's legal issues with the U.S. Department of Justice (DOJ), which led to a guilty plea, a significant $50 million fine, and a four-month imprisonment.

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