Binance CEO Changpeng ‘CZ’ Zhao was ranked among the “25 financial titans” who made their wealth through “computer-driven trading companies” by Bloomberg.
CZ makes top 3
According to Bloomberg, CZ is worth $28.2 billion and made the bulk of his wealth through his exchange, Binance.
Founded in 2017, Binance is the largest crypto exchange by trading volume — controlling over 50% of the market — and has over 120 million users. As of April 5, Bloomberg estimated its annual revenue to be around $12 billion.
Before 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’s collapse in November 2022, Binance has come under intense regulatory scrutiny. The US Commodity Futures Trading Commission filed a lawsuit against the exchange and CZ over breaking trading and derivatives laws.
Meanwhile, Forbes rich list estimates that CZ is worth $10.5 billion as of April 26.
Other crypto-related names on the list
1. Ken Griffin
Griffin is the wealthiest man on the list, with a net worth of $35 billion. The billionaire made his wealth through his hedge fund — Citadel — and popular market maker, Citadel Securities.
The hedge fund has about $59 billion in equities and other investments, while the market maker is valued at $22 billion as of January 2022.
In 2022, Citadel made several crypto-related investments in companies like Silvergate Capital and revealed interest in building a cryptocurrency trading ecosystem.
2. Jeff Yass
The founder of Susquehanna is valued at $33.1 billion. The trading firm is allegedly one of the investors in the OPNX exchange. Other investments made by the company include a $10 million strategic investment into KuCoin in 2022.
3. Uday Kotak
Kotak is valued at $13 billion. His company, Kotak Mahindra Bank, is one of the earliest banks to embrace crypto in India.
4. Stan Druckenmiller
The billionaire is worth $9.9 billion. Druckenmiller is one of the biggest names supporting the crypto industry.
Last year, the billionaire said cryptocurrency could have a “big role” as people seek alternatives to fiat money.
5. Todd Boehly
The Chelsea football club chairman is valued at $6.4 billion. According to reports, his Eldridge investment firm led a debt raise for Digital Currency Group in November 2021.
The firm has also invested in fintech and crypto infrastructure company Cross River and backed crypto exchange and wallet provider Blockchain.com.
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