🤔 Who Became the Top Crypto Billionaire? Ex-CEO CZ or Perhaps Brian Armstrong?

📈 Bitcoin's recovery, which surged by over 160% after a challenging 2022, played a significant role in boosting its own capital. Zhao now leads a group of cryptocurrency entrepreneurs whose fortunes have grown this year. According to the Bloomberg Billionaires Index, notable names in this list include Coinbase CEO Brian Armstrong, as well as Tyler and Cameron Winklevoss. The former Binance CEO ranks 35th on the list, just under a billion less than Tadashi Yanai, the CEO of the retail giant Uniqlo.

💰 Zhao's wealth is mainly tied to his significant stake in Binance. Despite a slight dip in its market share after the U.S. Department of Justice crackdown, Binance benefited from increased trading volumes as the cryptocurrency market recovered.

⚖️ Zhao may face up to 10 years in prison, but his plea deal suggests a shorter sentence, possibly no more than 18 months. This is significantly less severe than other prominent figures in the cryptocurrency world, who have faced legal troubles. The exact duration of his sentence is yet to be determined. On December 9, a judge in Seattle ruled that Zhao cannot return to his home in the UAE, as his sentencing is set for February 23.

📉 Despite the financial gains this year, Zhao's net worth is still below its peak of nearly $97 billion in early 2022, which was heavily impacted by the crypto winter triggered by the crash of Terra LUNA and FTX.