Binance CEO Changpeng ‘CZ’ Zhao was ranked among the ’25 financial giants’ who made their fortunes through ‘computer-driven trading houses’ by Bloomberg.
CZ in top 3
according to bloombergCZ is worth $28.2 billion and most of his wealth was made through his exchange Binance.
Founded in 2017, Binance is the largest cryptocurrency exchange by trading volume, controlling over 50% of the market and having over 120 million users. As of April 5, Bloomberg estimates annual sales at about $12 billion.
Prior to founding Binance, Zhao reportedly worked on trading systems and was introduced to Bitcoin by crypto entrepreneur Bobby Lee at a poker game in Shanghai.
After FTX collapsed in November 2022, Binance came under heavy regulatory scrutiny. The U.S. Commodity Futures Trading Commission has filed a lawsuit against the exchange and his CZ for violating the Trading and Derivatives Act.
On the other hand, the Forbes rich list Estimate That CZ is worth $10.5 billion as of April 26th.
Other crypto-related names on the list
1. Ken Griffin
Griffin is the richest person on the list with a net worth of $35 billion. The billionaire made his fortune through Citadel, a hedge fund, and Citadel Securities, a popular market maker.
Hedge funds hold about $59 billion in stocks and other investments, while market makers are valued at $22 billion as of January 2022.
Citadel Securities owns a 5.5% stake in Silvergate Capital and has revealed its interest in building a cryptocurrency trading ecosystem.
2. Jeff Yas
Susquehanna Founder Worth $33.1 Billion. This trading company is said to be one of the OPNX exchange investors.other investment It includes the company’s $10 million strategic investment in KuCoin in 2022.
3. Uday Kotak
Kotak is worth $13 billion. His company, Kotak Mahindra Bank, is one of the earliest banks to adopt cryptocurrencies in India.
4. Stan Druckenmiller
The billionaire’s fortune is $9.9 billion. Druckenmiller is one of the biggest names supporting the crypto industry.
Last year, the billionaire said cryptocurrencies could “play a big role” as people sought alternatives to fiat currencies.
5. Todd Boley
The chairman of Chelsea Football Club is valued at $6.4 billion.according to reporthis Eldridge investment firm, led a debt financing for Digital Currency Group in November 2021.
The company also invested in fintech and crypto infrastructure company Cross River and backed crypto exchange and wallet provider Blockchain.com.
6. Guillaume Pouzers
Pousaz is worth $6.3 billion.financial times report He said his firm’s bet on the cryptocurrency industry fell through after FTX collapsed in November 2022, resulting in a significant outflow of investors.
7. Chase Coleman
Coleman is worth $6 billion and is the founder of Tiger Global. The investment fund was one of the investors of the defunct virtual currency exchange FTX.recently report shows a $12.7 billion fund experienced a 20% paper loss on investments including NFT marketplace OpenSea.
8&9 John Overdeck and David Siegel
Overdeck and Siegel are each valued at $5.8 billion. The two co-founded Two Sigma Investments.
In 2022, Two Sigma partnered to contribute data to Chainlink, a popular blockchain information network.Venture capital department Involved About $400 million in two funds containing crypto investments.
10. Mark Rowan
Rowan’s assets are $5.6 billion. Rowan co-founded his Apollo, which in 2022 launched a Bitcoin custody service for institutional investors through a partnership with Anchorage Digital.
11. Andre Estevez
Estevez is worth $5.2 billion. He is the controlling shareholder of Banco BTG Pactual, the largest investment bank in Latin America. The bank launched its cryptocurrency trading platform in August 2022 and has since made several moves in favor of cryptocurrencies.
12 & 13 Patrick Collison and John Collison
Stripe founders are each worth $5.1 billion. Their online payment processor has reintroduced Bitcoin (BTC) payments for their users in 2022.