Bloomberg calculated the size of the fortune of Binance’s head

According to the publication, Changpeng Zhao's capital is $96 billion

10.01.2022 - 12:45

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What’s new? Bloomberg has estimated the fortune of Changpeng Zhao, the founder and head of the Binance cryptocurrency exchange, at $96 billion. The publication based its calculations on the value of the platform, in which the businessman holds a 90% stake. In this, it did not take into account the value of the virtual assets owned by Zhao.

Material on the Bloomberg website

What calculations does Bloomberg cite? The agency also posted that Binance generated about $20 billion in revenue last year. This figure is about 3 times more than the projected figure of the Coinbase cryptocurrency exchange.

What had happened before? In late December 2021, Zhao posted on his Twitter microblog that there is no point in comparing bitcoin and CBDC. In his view, the digital currencies of the central banks will probably be able to displace stablecoins, but not BTC and other major cryptocurrencies.

According to the head of the cryptocurrency exchange, CBDCs differ from the first cryptocurrency and other virtual currencies on a fundamental level. Most CBDCs will be inflationary, with high fees and restrictions on operations, Zhao is sure.

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