Bitcoin
Bitcoin (BTC)
$117,656.00 1.49842
Bitcoin price
Ethereum
Ethereum (ETH)
$2,958.22 -0.19423
Ethereum price
BNB
BNB (BNB)
$688.10 0.28267
BNB price
Solana
Solana (SOL)
$162.14 -1.51122
Solana price
XRP
XRP (XRP)
$2.73 7.12714
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000133 -0.73223
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000124 -0.75443
Pepe price
Bonk
Bonk (BONK)
$0.0000224 -7.23475
Bonk price
dogwifhat
dogwifhat (WIF)
$0.958467 -9.7968
dogwifhat price
Popcat
Popcat (POPCAT)
$0.360426 -4.0522
Popcat price
Bitcoin
Bitcoin (BTC)
$117,656.00 1.49842
Bitcoin price
Ethereum
Ethereum (ETH)
$2,958.22 -0.19423
Ethereum price
BNB
BNB (BNB)
$688.10 0.28267
BNB price
Solana
Solana (SOL)
$162.14 -1.51122
Solana price
XRP
XRP (XRP)
$2.73 7.12714
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000133 -0.73223
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000124 -0.75443
Pepe price
Bonk
Bonk (BONK)
$0.0000224 -7.23475
Bonk price
dogwifhat
dogwifhat (WIF)
$0.958467 -9.7968
dogwifhat price
Popcat
Popcat (POPCAT)
$0.360426 -4.0522
Popcat price
Bitcoin
Bitcoin (BTC)
$117,656.00 1.49842
Bitcoin price
Ethereum
Ethereum (ETH)
$2,958.22 -0.19423
Ethereum price
BNB
BNB (BNB)
$688.10 0.28267
BNB price
Solana
Solana (SOL)
$162.14 -1.51122
Solana price
XRP
XRP (XRP)
$2.73 7.12714
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000133 -0.73223
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000124 -0.75443
Pepe price
Bonk
Bonk (BONK)
$0.0000224 -7.23475
Bonk price
dogwifhat
dogwifhat (WIF)
$0.958467 -9.7968
dogwifhat price
Popcat
Popcat (POPCAT)
$0.360426 -4.0522
Popcat price
Bitcoin
Bitcoin (BTC)
$117,656.00 1.49842
Bitcoin price
Ethereum
Ethereum (ETH)
$2,958.22 -0.19423
Ethereum price
BNB
BNB (BNB)
$688.10 0.28267
BNB price
Solana
Solana (SOL)
$162.14 -1.51122
Solana price
XRP
XRP (XRP)
$2.73 7.12714
XRP price
Shiba Inu
Shiba Inu (SHIB)
$0.0000133 -0.73223
Shiba Inu price
Pepe
Pepe (PEPE)
$0.0000124 -0.75443
Pepe price
Bonk
Bonk (BONK)
$0.0000224 -7.23475
Bonk price
dogwifhat
dogwifhat (WIF)
$0.958467 -9.7968
dogwifhat price
Popcat
Popcat (POPCAT)
$0.360426 -4.0522
Popcat price

Binance CEO reportedly lost $12b amid regulatory problems

News
Binance CEO reportedly lost $12b amid regulatory problems

The fortune of the founder and head of the largest crypto exchange, Binance, Changpeng Zhao, decreased by $12 billion amid problems with the trading platform.

The Bloomberg Billionaires Index cut its earnings estimate for the Binance cryptocurrency exchange by 38% amid falling platform sales. As a result, Zhao’s wealth decreased by $11.9 billion to $17.3 billion.

Binance CEO reportedly lost $12b amid regulatory problems - 1

In addition to losing his fortune, Zhao reset the wealth of the founder of the FTX crypto exchange, Sam Bankman-Fried. In November 2022, the founder of Binance announced that he was liquidating the token associated with FTX following a report that Bankman-Fried’s hedge fund Alameda Research also held a large position in it.

Some FTX clients rushed to withdraw money, and the exchange could not cope with the withdrawal surge. Less than a week later, the company filed for bankruptcy. This has seen Bankman-Fried’s net worth reduced to zero after peaking at $26 billion in March last year.

Binance gained market share earlier this year, peaking at 62% of total cryptocurrency exchange trades in the first quarter, thanks to zero-commission promotions for popular trading pairs. However, after the offer expired, Binance’s stake fell to 51% at the end of the third quarter.

The Securities and Exchange Commission sued Binance in June. As a result, the Bloomberg Wealth Index slashed the value of US exchange Binance to zero after it announced it would no longer transact in dollars.