According to Bloomberg, CZ is worth $28.2 billion and made the bulk of his wealth through his exchange, Binance.
Binance CEO Changpeng ‘CZ’ Zhao was ranked among the “25 financial titans” who made their wealth through “computer-driven trading companies” by Bloomberg.
CZ makes top 3
According to Bloomberg, the founder of Binance, CZ, is estimated to be worth $28.2 billion, with the bulk of his wealth coming from his crypto exchange.
Binance, which was founded in 2017, is the largest crypto exchange in terms of trading volume, accounting for over 50% of the market, and has more than 120 million users. Bloomberg estimated its annual revenue to be around $12 billion as of April 5.
Prior to starting Binance, CZ reportedly worked on trading systems and was introduced to Bitcoin by crypto entrepreneur Bobby Lee during a poker game in Shanghai.
Following the collapse of FTX in November 2022, Binance has been under increased regulatory scrutiny. The US Commodity Futures Trading Commission has filed a lawsuit against the exchange and CZ for allegedly violating trading and derivatives laws.
Meanwhile, CZ's net worth is estimated at $10.5 billion, according to Forbes' rich list as of April 26.
The Bloomberg Billionaires Index also includes several other names from the crypto industry:
Ken Griffin: With a net worth of $35 billion, Griffin is the wealthiest person on the list. He made his fortune through his hedge fund, Citadel, and the market maker, Citadel Securities. Citadel Securities has a 5.5% stake in Silvergate Capital and has expressed interest in developing a crypto trading ecosystem.
Jeff Yass: The founder of Susquehanna is valued at $33.1 billion. The trading firm is reportedly one of the investors in the OPNX exchange and has made a strategic investment of $10 million into KuCoin.
Uday Kotak: Valued at $13 billion, Kotak's company, Kotak Mahindra Bank, was one of the first banks in India to embrace crypto.
Stan Druckenmiller: The billionaire is worth $9.9 billion and has been a vocal supporter of the crypto industry, saying that cryptocurrency could have a "big role" as people seek alternatives to fiat money.
Todd Boehly: The chairman of Chelsea football club is worth $6.4 billion and has invested in fintech and crypto infrastructure companies, including Cross River and Blockchain.com. His Eldridge investment firm also led a debt raise for Digital Currency Group in November 2021.
Guillaume Pousaz: Pousaz is worth $6.3 billion and is the founder of a company that reportedly suffered significant investor outflows following the collapse of FTX in November 2022.
Chase Coleman: With a net worth of $6 billion, Coleman is the founder of Tiger Global and was an investor in the defunct crypto exchange FTX. Recent reports indicate that the $12.7 billion fund experienced a 20% paper loss on its investment, including NFT marketplace OpenSea.
8 & 9. John Overdeck and David Siegel: The co-founders of Two Sigma Investments are valued at $5.8 billion each. Two Sigma recently partnered with Chainlink to provide data and has committed about $400 million to two funds, including crypto investments.
Marc Rowan: Rowan, worth $5.6 billion, co-founded Apollo, which launched Bitcoin custodial services for institutional clients through a partnership with Anchorage Digital in 2022.
André Esteves: Esteves is worth $5.2 billion and is the controlling shareholder of Banco BTG Pactual, the largest investment bank in Latin America. The bank launched a crypto trading platform in August 2022 and has made several pro-crypto moves since then.
12 & 13. Patrick Collison and John Collison: The founders of Stripe are worth $5.1 billion each. Their online payment processing company re-introduced Bitcoin payments for users in 2022.
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Source: cryptoslate
image Source: Binance
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Disclaimer
The views and opinions expressed by the author, or any people mentioned in this article, are for informational purposes only, and they do not constitute financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.
