Binance CEO Changpeng Zhao ranks as the wealthiest person in the crypto ecosystem

While Zhao’s fortune is estimated at around USD $96 billion at the time of publishing, this does not include cryptocurrencies held by the CEO of Binance, The exact amount of which is unknown, although it is known that he has funds in his possession. BTC y BNB.

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The founder and CEO of Binance, Changpeng Zhao, currently listed as one of the world’s wealthiest people, is estimated to be worth more than $96 billion USD at the time of publication.

Zhao is the wealthiest person in the crypto sector

The revelation was made by the news agency Bloomberg in its new index of billionaire individuals, where it indicates that Zhao is listed as one of the people with the most capital capital is most commonly defined as the large sum of money you would use to invest. to his credit, and this is without taking into account an account is essentially a whose purpose is to track the financial activities of a specific asset/ the cryptocurrencies he has under his possession, among which he is known to manage funds Bitcoin the biggest and most popular cryptocurrency in the world. It is a decentralized digital currency that enables users to make trustless peer-to-peer transactions. (BTC) y Binance Coin a coin can refer to a cryptocurrency that can operate independently or to a single unit of such cryptocurrency. (BNB), the latter being the cryptocurrency cryptocurrencies are digital currencies that use cryptographic technologies to secure their operation. associated with the international exchange businesses that allow customers to trade cryptocurrencies for fiat money or other cryptocurrencies. he founded and currently runs.

In this sense, Zhao would become the richest person in the digital digital technologies are these electronic tools that have the ability to generate, store or even process data. currency currency is a medium of exchange that defines value. ecosystem, surpassing personalities such as Sam Bankman-Fried (with USD $22.5 billion) and Brian Armstrong (with USD $9.6 billion). However, the most interesting fact for this purpose is that the fortune of the executive of Binance exceeds even that of the bitcoins housed in the genesis block a file containing information on transactions completed during a given time period. Blocks are the constituent parts of a blockchain. of the digital currency, which is 1.1 million bitcoins. BTC valued at USD $45.8 billion at the current exchange rate, which would belong to Satoshi the smallest unit of bitcoin with a value of 0.00000001 BTC. Nakamoto, the enigmatic creator of the leading cryptocurrency.

In response to Bloomberg’s remarks, Zhao chose to give more credit to what can be done with so much capital rather than counting everything accumulated, so he commented:

“Don’t worry about rankings. Focus on how many people you can help.”

Don’t worry about rankings. Focus on how many people you can help.

– CZ changpeng Zhao (CZ) is the founder of crypto exchange Binance. ???? Binance (@cz_binance) January 10, 2022

However, outside of the cryptocurrency ecosystem, Zhao would rank the relative position of a cryptocurrency by market capitalization. below the likes of Elon Musk (USD $263 billion), Jeff Bezos (USD $188.4 billion) and Mark Zuckerberg (USD $121 billion), this is taking just a few of the most influential billionaires in the tech and business sector as a benchmark.

Good prospects for Binance

Zhao’s good fortune stems mainly from the developments he has been capitalizing on. Binance throughout its history, exchange is currently at a point where it generated an estimated USD $21 billion in revenue over the past 2021, which is well above what other platforms such as Coinbase is an American company that operates a cryptocurrency exchange platform. o Bittrex.

However, despite the good commercial results capitalised by Binance, Throughout 2021, the exchange encountered operational challenges in formalizing its operations and/or offering a range of other products, particularly in certain jurisdictions that presented regulatory challenges in admitting such activities.

The biggest problem he had Binance had to do with its plans to launch tokenized shares, which conflicted with the fact that the platform a place to buy, sell and store cryptocurrency was not operating in compliance with the legal provisions of certain countries such as the UK, Singapore, Canada, Japan, Netherlands, Italy, Cayman Islands and many other nations.

Despite these problems, the exchange has gone ahead with its operations and continues to trade both digital currencies and crypto derivatives. However, it is still working to find a physical location for its operations, so it remains to be seen which country it will establish its operational base.

• Binance.US to open a virtual office in Solana metaverse a metaverse is a digital universe that contains all the aspects of the real world, such as real-time interactions and economies. It offers a unique experience to end-users.
• Binance to continue operating in Ontario, Canada after cooperation with authorities
• Binance receives regulatory approval from Middle Eastern country

Source: Decrypt , Bloomberg

Version by Angel Di Matteo / DiarioBitcoin

Image by Nicole.Design for DiarioBitcoin