Binance CZ Net Worth Drops $11.9bn Amidst Legal Troubles and Falling Trade Volumes!

Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Oct 27, 2023 12:09

Binance CEO CZ has seen his net worth plummet by $11.9 billion due to falling trading volumes at the exchange, according to the Bloomberg Billionaires Index. Binance revenues fell by 38% as exchange volumes waned, leading to the drop, which leaves Zhao in 95th place on the rich list. His net worth has fallen by 82% to $17.3 billion from its peak in January 2022. Binance.US, the firm’s American unit, also saw volumes hit new lows last month. The fall in fortunes comes amid twin lawsuits from US regulators that allege the exchange has operated illegally.