Embattled billionaire and founder of Binance, Changpeng Zhao’s, net worth has recorded gains of up to $8.42 billion, pushing his total wealth to nearly $50 billion, driving his year-to-date gains up by $13.9 billion.

Zhao’s net worth soared from $39.9 billion to $48.3 billion as the share price of Binance rose from $549.19 on March 22, 2024, to $554.30 as of Monday morning, March 25, 2024, according to data from the Bloomberg Billionaire Index.

The bulk of Zhao’s fortune is attributed to his controlling stake in Binance, which is recognized as the world’s largest cryptocurrency exchange by trading volume, boasting over 150 million users as of August 2023.

Binance’s revenue of $9.8 billion is derived from the average of the company’s trailing 12-month spot and derivative trading volumes through March 2024, as monitored by research services Coingecko.com and CCData. Additionally, the average transaction fees disclosed on Binance’s website, separately calculated for spot and derivative volumes, contribute to this substantial revenue figure.

The updated revenue figure in March 2024 resulted in a net worth gain of approximately $11 billion for Zhao, reflecting the significant growth trajectory of Binance and its founder’s wealth amid the evolving ecosystem of the cryptocurrency market

Source
https://nairametrics.com/2024/03/25/binance-founder-changpeng-zhao-gains-8-42-billion-in-72hrs/

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