Binance CEO Fortune Worth Double Satoshi Nakamoto's Bitcoin Reserve

Changpeng Zhao, CEO of crypto exchange Binance, has become one of the richest men in the world, according to an index compiled by Bloomberg. The fortune estimated at US $ 96 billion (R $ 544.6 billion) disregards the personal booking criptomoedas Zhao, including Bitcoin and BinanceCoin.

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Zhao is now ahead of other important names in the segment. This includes Sam Bankman-Fried, CEO of exchange FTX, with $22.5 billion (BRL 127.6 billion), and Brian Armstrong, CEO of Coinbase, with $9.6 billion (BRL 54.5 billion). ).

Bloomberg's ranking points out that Zhao's $96 billion surpasses even the fortune of Satoshi Nakamoto , the anonymous creator of Bitcoin. According to reports from 2021, Nakamoto's Bitcoin reserve is 1.1 million — something like $45.8 billion today.


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Cryptocurrency traders are becoming billionaires (Image: Playback/Pixabay/WorldSpectrum)

Binance itself is well positioned in the market: in 2021, its revenue was $20 billion, according to Bloomberg. This amount is estimated to exceed Coinbase's revenue expectations for the past year.

The crypto exchange warns that “crypto is still growing” and that, as a result, the sector is “susceptible to high levels of volatility”. “Any amount on one day will be different the next day”, he highlights.

Read the article on Canaltech .

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