Changpeng Zhao, the former CEO of Binance, reportedly holds 94 million BNB, amounting to approximately 64% of the total BNB supply, as per Forbes.
- Changpeng Zhao holds 94 million BNB, representing 64% of the total supply.
- CZ accumulated BNB through initial company allocation and unsold ICO tokens.
- Forbes estimates CZ’s net worth at $61 billion, making him the 24th richest person globally.
Introduction
In a recent revelation, Forbes has disclosed that Changpeng Zhao, commonly referred to as CZ, owns a staggering 94 million Binance Coin (BNB). This ownership constitutes about 64% of the total BNB supply, which is approximately 147.5 million coins. The article titled ‘CZ владеет 64% от общего предложения BNB’ highlights the significant influence CZ has within the Binance ecosystem and the broader cryptocurrency market.
Accumulation of BNB
According to Forbes, CZ amassed his BNB holdings through two primary methods. During the inception of Binance in 2017, CZ and his team received 80 million BNB. A thorough analysis of the wallets holding these coins revealed that the company retains 46.2 million BNB from the initial allocation, while CZ personally owns 41.6 million BNB due to his shareholdings in Binance.
Unclear Wealth Components
The second component of CZ’s wealth is less transparent. Forbes’ investigation found that during Binance’s Initial Coin Offering (ICO), there was a shortfall of buyers. Consequently, CZ and Binance redirected unsold tokens to wallets under their control. In 2017, Binance announced the sale of 100 million BNB at $0.15 each, raising $15 million. However, Forbes’ analysis indicated that only 10.8 million BNB were sold, bringing in under $5 million. The fate of the unsold tokens was not disclosed in Binance’s ICO investor document.
Current Valuation
Further examination revealed that these assets are stored in Binance wallets, valued at over $35 billion, given the current coin price of $602. Considering CZ’s 90% stake in Binance, he controls an additional 52 million BNB. This brings his estimated net worth to $61 billion, positioning him as the 24th richest person worldwide.
Implications for the Crypto Market
CZ’s substantial ownership of BNB has significant implications for the cryptocurrency market. His control over such a large percentage of the total supply can influence BNB’s price dynamics and market stability. Investors and market participants should be mindful of this concentration of power within the Binance ecosystem.
The insights provided by Forbes underscore the pivotal role CZ plays in the crypto industry. His actions and decisions can have far-reaching impacts, not just on Binance but on the broader cryptocurrency landscape. With a net worth of $61 billion, CZ’s influence extends far beyond Binance, making him a key figure to watch in the ongoing evolution of the crypto market.
