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Bloomberg Calculates Binance CEO Amassed The Largest Crypto Fortune On The Planet

Published:

Jan 10, 2022 12:30 GMT

According to the Bloomberg Billionaires Index, Changpeng Zhao’s net worth currently stands at $ 96 billion.

Changpeng Zhao, the CEO of crypto exchange giant Binance, has become one of the world’s richest billionaires by accumulating the greatest fortune in cryptocurrencies on the planet, according Bloomberg.

According to his Billionaires Index, Zhao’s net worth currently stands at $ 96 billionA number that allows him to surpass the richest person in Asia, Mukesh Ambani, and compete with the founder of Meta, Mark Zuckerberg, and the founders of Google, Larry Page and Sergey Brin.

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However, the medium points out that in reality the fortune of the CEO of Binance could be Way to oldSince his personal crypto holdings, which include bitcoins and his company’s own ‘token’, Binance Coin, whose value soared approximately 1,300% last year, were not taken into account when calculating his wealth.

Also, a Bloomberg analysis of the volume of operations and fees of the company founded in China indicates that it generated at least 20,000 million dollars of revenue last year. For comparison, the experts pointed out that it represents almost triple the estimated collection for 2021 of the American firm Coinbase, which has a market value of 50,000 million dollars.

“Coinbase might look like an 800-pound gorilla [una poderosa empresa] from an American perspective, but Binance is significantly larger“said Chris Brendler, analyst at DA Davidson & Co.

Zhao himself declined to comment on the report, while Binance questioned the accuracy of Bloomberg’s calculations of the company’s market value and net worth. “Crypto is still in its growth stage,” the company stated in a statement. “It is susceptible to higher levels of volatility. Any number you hear one day will be different from the number you hear the next.”

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HELEN HERNANDEZ

Helen Hernandez is our best writer. Helen writes about social news and celebrity gossip. She loves watching movies since childhood. Email: Helen@oicanadian.com Phone : +1 281-333-2229

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