Binance Changpeng Zhao is on the Bloomberg Rich List with nearly 600 billion assets

Changpeng Zhao once said on January 10 Ranked 11th on the Bloomberg Rich List, the next day, his information on the list was not displayed. On the same day, “Fortune” magazine published an article that on the Bloomberg Billionaires List, Changpeng Zhao ranked between the 12th Mukesh Ambani and the 10th Oracle co-founder Larry Ellison, with an asset of 960 US dollars. Currently, Mukesh Ambani ranks eleventh with a net worth of 9.708 billion yuan.

According to the 2021 Hurun Rich List, Changpeng Zhao ranks 114th with the Bosideng Gao family with a fortune of 52 billion yuan, or about 8 billion US dollars. That same year, the Forbes Rich List estimated Changpeng Zhao’s net worth at $1.9 billion. In November 2021, financial media revealed that according to the current transaction scale, Binance’s valuation will reach $300 billion; at the same time, according to Forbes data, founder Zhao Changpeng owns 30% of Binance’s shares. With assets reaching 90 billion US dollars, he is the richest man in Asia; as of now, the relevant original text has not been checked.

In addition, Bloomberg published “Binance CEO Changpeng Zhao’s Net Worth: Billionaire Masters the World’s Largest Crypto Wealth” on the 10th. A game of poker”.

The article disclosed that according to his public speech and undisclosed judicial regulatory documents, Changpeng Zhao held 90% of Binance’s shares ; Based on its transaction volume and fee analysis, Binance’s revenue in 2021 will be at least about 20 billion US dollars, thus calculating Changpeng Zhao’s wealth, and does not take into account the personal encrypted assets BNB held by him.

Changpeng Zhao once told The Associated Press that he holds Bitcoin and most of his assets are BNB. In April 2021, Changpeng Zhao said that the BNB held by the Binance team will be destroyed in the future, accounting for 40% of the total BNB. If not destroyed, the BNB held by the Binance team will reach tens of billions of dollars. On January 14, the unit price of BNB was $479, with a market value of $80 billion.

Regarding Changpeng Zhao’s shareholding in Binance, Binance has stated that there is no response to Blue Whale Finance. Binance was once pointed out by early investors that it followed the principle of ‘no confirmed rights, no entity, no statement, no rights, no dividends, no currency sharing, no repurchase, no transfer’, and invested tens of millions of RMB in Binance, but it took three No shares were given for the year. Blue Whale Finance has learned from other early Binance investors that the situation is basically the same.

As mentioned at the beginning of the Bloomberg article, according to people familiar with the matter, Changpeng Zhao is rapidly becoming a frequent visitor to the UAE, meeting royals, buying apartments in Dubai, and building the Burj Khalifa, the world’s tallest building. Host a dinner party.

On January 10th, Zhao Changpeng suspected of responding to the list, and posted on social media that he didn’t care about the rankings, and focused on how many people he could help.

The article mentioned that Changpeng Zhao and his family moved to Vancouver, Canada when he was 12 years old. He now holds Canadian citizenship, studied computer science, and later engaged in financial-related work in Tokyo and New York. Also described as a former McDonald’s gig employee and former programmer. The opportunity for Changpeng Zhao’s journey to become a crypto-rich started in 2013, when he had a poker game in Shanghai with Bitcoin China CEO Li Qiyuan and investor Cao Darong, asking him to invest 10% of his wealth in Bitcoin, and then sell his house to buy coins And established Binance in 2017. Changpeng Zhao also served as CTO in the original OKCoin.

In 2021, the cryptocurrency market is booming. Bitcoin and other virtual currencies once reached an all-time high, and many traditional financial institutions have turned around and launched related services, and companies listed on U.S. stocks and Hong Kong stocks have added encrypted assets. Since the beginning of 2021, with the popularity of Defi and NFT, the native tokens of the public chain as infrastructure have risen sharply. Ethereum and the Binance platform currency BNB have all reached record highs. Among them, BNB has increased by more than 10 times in a year.

According to industry observers, in the fourth quarter of 2020, when risk events were reported on other platforms, the number of Binance users increased. Binance has stated that it will clear out Chinese users at the end of 2021 and remove the C2C area from the CNY trading area. It is understood that there are still mainland KYC users who can use the platform, and there is still a CNY option in the C2C area.

The Binance headquarters address also continues to receive attention. In September 2017, the supervision of cryptocurrency exchanges in mainland China increased, and Binance, which has just been established for more than two months, needs to be deployed overseas. After being warned by the Japanese Financial Services Agency in March 2018, Binance later said that it would move its headquarters from Japan to Malta. In November 2019, the Shanghai Central Bank headquarters issued a document to investigate the virtual currency exchange in Shanghai. According to media reports such as Caijing.com and Dragon TV, many offices of Binance Shanghai were unoccupied at the end of the month. Binance denies that it has a local workplace, and has since set up a research institute in Lingang, Shanghai.

Binance has been warned by financial regulators from the United Kingdom, Germany, Japan, Malaysia, South Africa, Singapore and other countries, and has successively announced the withdrawal of users from the United States, China, and Singapore. In December 2021, Binance withdrew its application to operate a local crypto exchange in Singapore. On December 21, 2021, Binance officially announced that it signed a memorandum of understanding (MoU) with the Dubai World Trade Center Authority (DWTCA) to establish a global virtual asset industry center locally. A few months ago, it was reported that the location of Binance’s headquarters was Ireland.

Binance has experienced turmoil such as currency theft, user KYC information outflow, etc., and its public chain smart chain BSC has experienced many risk events. Previously, Binance was criticized by users due to the suspension of withdrawals of Dogecoin and the Boba project airdrop incident. In addition, the flow tokens deposited by users on the Binance platform were delayed for two days, and assets were depleted due to the drop in Flow price; Binance suspended the deposit of Ronin mainnet to the exchange for three days, which also caused some users to operate related operations. Assets were damaged due to the failure to adjust the strategy in a timely manner.