Binance CEO Changpeng ‘CZ’ Zhao was ranked among the “25 financial titans” who made their wealth through “computer-driven trading companies” by Bloomberg.
According to Bloomberg, CZ is worth $28.2 billion and made the bulk of his wealth through his exchange, Binance.
Founded in 2017, Binance is the largest crypto exchange by trading volume — controlling over 50% of the market — and has over 120 million users. As of April 5, Bloomberg estimated its annual revenue to be around $12 billion.
Before founding Binance, Zhao reportedly worked on trading systems and was introduced to Bitcoin by crypto entrepreneur Bobby Lee at a poker game in Shanghai.
After FTX’s collapse in November 2022, Binance has come under intense regulatory scrutiny. The US Commodity Futures Trading Commission filed a lawsuit against the exchange and CZ over breaking trading and derivatives laws.
Meanwhile, Forbes rich list estimates that CZ is worth $10.5 billion as of April 26.
(by Oluwapelumi Adejumo)
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