Article Reading Time:
According to Bloomberg,Changpeng Zhao’s fortune dropped by $12 billion in just one day amid Binance’s problems and litigation with regulators in Europe and the USA, as well as a lawsuit against FTX.
Bloomberg Billionaires Index lowers estimateCrypto exchange Binance's revenue fell 38% after data showed the company's sales have fallen this year. This reduced Binance founder Changpeng Zhao's wealth by $11.9 billion and is now valued at $17.2 billion.
Since the beginning of 2023, Changpeng Zhao's fortune has grown by 37.3% - more than $4.6 billion. On January 1, 2023, it was estimated at $12.6 billion, and at the beginning of 2022 - almost $97 billion.
Last year, the founder of Binance announced thatliquidates the token associated with FTX. This comes amid reports that Sam Bankman-Fried's hedge fund Alameda Research also has a large position in it. Some FTX clients rushed to withdraw money, and the exchange was unable to cope with the surge in withdrawals. Less than a week later, FTX filed for bankruptcy.
Binance recently faced a series of exitskey employees. Earlier, the management of the largest crypto exchange approved a new regional director for Central-Eastern Europe and Central Asia, Kirill Khomyakov.