Changpeng Zhao’s Silver Lining Amid Legal Troubles?

December 27, 2023 2:03 pm Comments

They can sue him, charge him, convict him, force him to resign, but they just can’t keep him down.

Binance’s former CEO Changpeng Zhao is facing legal troubles and fines from the biggest centralized state entity in the world: the U.S. federal government.

A judge recently ruled that the former CEO must stay in the United States until his sentencing date, a sentencing date set for February 2024.

Despite all this, there is a silver lining for the ex-Binance CEO; Zhao’s wealth grew by a staggering $23.6 billion in 2023 alone.

Zhao now stands as one of the world’s wealthiest individuals and ranks at number 35th on the Forbes billionaires list. Olumide Adesina said: “CZ is in a world of his own, his wealth grew by $23.6 billion, this year. No entity made that in the crypto market.”

According to The Block:

The substantial fortune is derived from Zhao’s controlling stake in Binance, Bloomberg reported earlier today. It’s worth noting that Zhao also holds bitcoin and Binance’s own coin, BNB, and these assets are reportedly not factored into the index.

BSCN Headlines informed readers that Zhao is now wealthier than notable financiers: “CZ’S WEALTH INCREASED BY $25 BILLION IN 2023 – RICHER THAN CITADEL’S KEN GRIFFIN.”

Bitcoinist revealed that Zhao was not the only crypto CEO to see massive gains to their net worth in 2023:

According to Bloomberg, Brian Armstrong, CEO of Coinbase Global Inc., has seen his wealth rise by $5.8 billion year-to-date to reach $7.2 billion. Coinbase’s shares have surged approximately 400% this year, and Armstrong owns an estimated 16% stake in the company.

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