April

According to a new Forbes article, Binance founder Changpeng Zhao has tripled his net worth since 2023.
Forbes magazine has published a ranking of the world’s wealthiest and most influential cryptocurrency billionaires, <a href="https://www.forbes.com/sites/johnhyatt/2024/04/02/the-richest-crypto-and-bitcoin-billionaires-in-the-world-2024/?sh=6dfe5c67726b" target="_blank" rel="noopener noreferrer nofollow">headed</a> by <a href="https://crypto.news/post-binance-life-changpeng-zhao-is-turning-to-education-with-a-new-project/" target="_blank" rel="noopener noreferrer nofollow">Zhao</a>. Forbes estimated his net worth at $33 billion, more than triple what it was in 2023 at $10.5 billion. Zhao’s stake in Binance is about 90%, valued at $32.5 billion.
The Binance founder topped the billionaire ranking despite significant legal problems in the last year. In November 2023, Zhao and Binance pleaded guilty to violating U.S. anti-money laundering and sanctions regulations.
You might also like: <a href="https://crypto.news/changpeng-zhaos-journey-from-mcdonalds-to-crypto-magnate/" rel="noopener noreferrer nofollow"> Changpeng Zhao’s journey: from McDonald’s to crypto magnate </a>
As part of a sweeping settlement with the government that allows the cryptocurrency exchange to continue operating, Zhao agreed to <a href="https://crypto.news/binance-ceo-changpeng-zhao-steps-down-with-response-to-the-sec-following-guilty-plea/" target="_blank" rel="noopener noreferrer nofollow">step down</a> as the exchange’s CEO and <a href="https://crypto.news/wsj-changpeng-zhao-to-step-down-plead-guilty-as-part-of-binance-doj-settlement/" target="_blank" rel="noopener noreferrer nofollow">pay</a> a fine of $50 million. Binance was forced to pay $4.3 billion per the agreement.
The verdict on charges of money laundering is expected on <a href="https://crypto.news/changpeng-zhaos-criminal-sentencing-postponed-to-late-april/" rel="noopener noreferrer nofollow">April 30</a>. Zhao admitted guilt back in the fall of 2023.
<blockquote class="wp-block-quote">
 “Yet it hardly left a dent in his fortune. His stake in Binance—estimated to be 90%, based on corporate documents and conversations with former employees—is worth some $32.5 billion.”
 <cite>Forbes</cite>
</blockquote>
<a href="https://crypto.news/tag/coinbase/" target="_blank" rel="noopener noreferrer nofollow">Coinbase</a> CEO <a href="https://crypto.news/tag/Brian-Armstrong/" target="_blank" rel="noopener noreferrer nofollow">Brian Armstrong</a> took second place in the ranking, with Forbes estimating his fortune at $11.2 billion. Armstrong’s savings growth is directly related to the company’s position in the market, with Coinbase shares having <a href="https://crypto.news/coinbase-stock-price-bitcoin-rally/" rel="noopener noreferrer nofollow">risen significantly</a> since the beginning of 2023.
<a href="https://crypto.news/tag/Tether/" rel="noopener noreferrer nofollow">Tether</a> CFO Giancarlo Devasini closed out Forbes’s top three, with the magazine estimating his fortune at $9.2 billion.
You might also like: <a href="https://crypto.news/changpeng-zhao-canada-passport-binance/" rel="noopener noreferrer nofollow"> Binance founder Changpeng Zhao ordered to surrender Canadian passport </a>

Changpeng Zhao tops crypto billionaires ranking despite legal saga

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