Binance founder CZ’s fortune gets slashed $12B, while SBF is still at $0

Binance co-founder and CEO Changpeng “CZ” Zhao has actually seen his net worth slashed by $11.9 billion in the middle of falling trading volumes at his exchange.On Oct. 26, the Bloomberg Billionaires Index cut Binances earnings quotes by 38% amid a downturn in exchange volumes which knocked Zhao down to 95th location on the rich list.Zhaos net worth is now a paltry $17.3 billion, signing up an 82% drop from its $96.9 billion peak in January 2022, where he was ranked 11th amongst the worlds wealthiest people.Zhaos net worth peaked at $96.9 billion in early 2022 before dropping together with the crypto market. Source: BloombergBloombergs index determined Binances revenues from spot and derivatives trading information from crypto information aggregators CoinGecko and Coinpaprika.As of September, the exchanges spot trading market share had fallen for seven consecutive months to 34.3%. Binance.US, its United States-based arm, likewise saw volumes touch brand-new lows last month.Zhaos plummeting net worth and Binances fading trading volumes follow twin suits from the U.S. Securities and Exchange Commission and the Commodity Futures Trading Commission.The SEC took legal action against Zhao, Binance and Binance.US in June declaring the exchanges operated unlawfully, offered unregistered securities and mishandled customer assets with Zhao named as their “managing individual.

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