Former Binance CEO CZ Controls 64% of BNB, Valued Over $56 Billion

Former Binance CEO Changpeng Zhao has been identified as the 24th wealthiest individual globally, primarily due to his substantial ownership of Binance Coin (BNB), according to Forbes.



Zhao reportedly controls 64% of Binance’s BNB token circulating supply. With 94 million coins under his ownership, his holdings are valued at over $56 billion at current prices.



Additionally, the report states that Zhao possesses an approximate 90% stake in the Binance exchange.



Despite Binance facing numerous challenges, including Zhao’s resignation from his leadership position and a prison sentence, BNB has experienced significant growth this year. Data from CoinGecko indicates a 141% price increase over the past 14 months. Earlier this month, BNB achieved a new all-time high (ATH), reaching $717.



Since its initial coin offering (ICO) in 201


First found on: Cryptonews from Coinatory