Changpeng Zhao, widely known as CZ and the former CEO of Binance, reportedly experienced a significant increase in his wealth during his four-month incarceration.
An analysis by Forbes suggests CZ’s net worth surged by $3 billion, equating to approximately $25 million gained per day while in prison.
This surprising financial growth is attributed to CZ’s crypto assets and equity in Binance-affiliated companies, which remain privately held, thus making an exact valuation challenging.
While Forbes calculated CZ’s net worth increase from $36.5 billion to $61 billion, Bloomberg provided a contrasting report, suggesting that his wealth actually decreased over the same period.
Bloomberg’s estimate took a more conservative approach by assigning a zero-dollar value to CZ’s Bitcoin (BTC) and Binance Coin (BNB) holdings and discounting his Binance equity by 50%, reflecting declining market conditions across the industry. This variation highlights the complexity in assessing the net worth of high-profile figures like Zhao, whose wealth is largely tied to private crypto assets and valuations not publicly disclosed.
Zhao’s legal troubles began with a guilty plea in 2023 for violating the Bank Secrecy Act, resulting in a $50 million fine and his resignation as Binance CEO.
After serving 117 days in a California minimum-security prison, CZ was released two days early due to the weekend, sparking widespread curiosity regarding his financial status during imprisonment. The Forbes report sparked speculation across the crypto community, as CZ now re-enters the industry with intentions to focus on advancements in blockchain and artificial intelligence.
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