08.11.2024 14:22
Changpeng Zhao (CZ), the former CEO of Binance, one of the major players in the cryptocurrency world, announced that he has received offers for his controlling stake in the company. While the future of the shares, which constitute a significant portion of his net worth of approximately $53 billion, remains uncertain, CZ stated that he is ready to evaluate every offer.
Potential buyers have taken action for Changpeng Zhao, one of the most important figures in the cryptocurrency sector, regarding his shares in Binance. In November 2023, after reaching an agreement with the U.S. Department of Justice, CZ paid a $50 million fine and stepped down as CEO, emphasizing in his statement that he is ready to consider all offers.
Most of CZ's Wealth is in Binance Shares
Changpeng Zhao, the founder and former CEO of Binance, made significant statements about the future of his controlling shares in the company. CZ expressed that he has not made a definitive decision on whether he will hold the shares in the long term.
According to the Bloomberg Billionaires Index, CZ's shares in Binance increased by $12 billion following the U.S. presidential elections. With a total net worth reaching approximately $53 billion, a large portion of CZ's wealth is comprised of his shares in Binance.
In November 2023, CZ admitted to violating the Bank Privacy Act and reached a settlement with the U.S. Department of Justice. After paying a $50 million fine and stepping down as CEO, CZ was sentenced to four months in prison. CZ was released on September 27.