CZ’s Wealth Soars By $25B In 2023, Defying Guilty Plea & Binance Ouster – The Ultimate Triumph!

According to Bloomberg, thanks to the surge in the crypto market, the wealth of Binance founder Changpeng Zhao has recovered significantly.

According to the Bloomberg Billionaire Index, a ranking of the world’s richest people, the net worth of Binance founder Changpeng Zhao (CZ) as of the end of 2023 is $36.2 billion, up $25 billion from the same time last year.

Zhao is the 37th richest person in the world, with most of his wealth coming from his stake in Binance. However, the index does not include the amount of BTC, BNB, and other altcoins that are believed to be owned by the former CEO of Binance.

This is a remarkable comeback for Zhao, as as recently as October, the Bloomberg Billionaire Index still ranked CZ as 95th on the list of the world’s richest people, with a net worth of just $17.3 billion. However, thanks to the significant recovery of the cryptocurrency market in the last two months of the year, the position of the richest crypto billionaire has been restored.

However, the figure is still quite far from the record $97 billion in assets that Changpeng Zhao reached in early 2022.

As reported by CoinNerd, Changpeng Zhao pleaded guilty to money laundering charges before the US government in November and is scheduled to be sentenced to prison in February of next year. CZ also had to step down as CEO of Binance and pay a fine of $50 million, while Binance reached an agreement to pay a fine of $4.3 billion to end the investigation from the US side.

Besides Changpeng Zhao, several crypto billionaires also witnessed a sharp surge in their fortunes following the latest assessment by the Bloomberg Billionaire Index, including Coinbase CEO Brian Armstrong ($7.2 billion), Coinbase co-founder Fred Ehrsam ($2.5 billion), Gemini co-founders Cameron and Tyler Winklevoss (each $2.7 billion), and Digital Currency Group founder Barry Silbert ($2 billion).

* We hope this information will help you in your investment process, but this is not investment advice. Every investment carries risk, especially in this industry, so DYOR before making a decision.