Binance Coin [BNB] saw a run to an all-time high of $720 earlier this month. However, the asset’s streak was cut short as BNB fell below $600. At press time, the altcoin was trading at a low of $583.77 following a 3.55% daily drop. With its current price level, BNB is 18.65% below its all-time high. Despite its current drop, the asset’s holders aren’t too far away from reclaiming its ATH. But the real question is: who holds the most BNB?
Over half of the circulating supply of BNB is owned by Changpeng Zhao, the former CEO of Binance, according to research by Gary Wolf Analytics. The report reveals that CZ holds 94 million BNB in total, or 64% of Binance Coin’s entire supply. The founding team of Binance was given 80 million BNB tokens in total from the total supply of 200 million BNB during the firm’s creation in 2017. Currently, 46 million of those tokens remain in the exchange’s possession. CZ’s possessions don’t end here. The former CEO also holds 71% of the 147 million BNB that are now in use. In addition, he has a 90% stake in the firm.
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CZ’s Networth
Forbes reported that Changpeng Zhao, the man behind Binance, is worth $60.2 billion. CZ is now the world’s 25th wealthiest person. Sadly, though, the former CEO of Binance was forced to resign from his position after entering a plea deal for breaking the Bank Secrecy Act. Richard Teng took over as CEO of the cryptocurrency exchange.
A total of $4.3 billion in fines for Binance and $150 million for the CEO were also part of the deal. In addition, CZ was sentenced to four months in jail on April 30.
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