Bloomberg: the owner of the world’s largest cryptocurrency exchange lost $ 12 billion per day

According to Bloomberg, Чанпен Чжао" href="https://noworries.news/biography/chanpen-chzhao/" data-bio-id="3681">Changpeng Zhao 's fortune fell by $ 12 billion in just one day. This happened against the backdrop of Binance 's problems and lawsuits with regulators in Europe and the United States, as well as a lawsuit against FTX.

The Bloomberg Billionaires Index has cut the revenue estimate of the cryptocurrency exchange Binance by 38% after data showed that the company’s sales fell this year. This has reduced the fortune of Binance founder Changpeng Zhao by $ 11.9 billion and is now estimated at $ 17.2 billion.

Since the beginning of 2023, Changpeng Zhao’s fortune has increased by 37.3% - more than $ 4.6 billion. As of January 1, 2023, CZ was worth $ 12.6 billion, and at the beginning of 2022, it was almost $ 97 billion.

Last year, the founder of Binance announced that he would eliminate the FTX-linked token. This happened amid reports that Сем Бенкман-Фрід" href="https://noworries.news/biography/sem-benkman-frid/" data-bio-id="3697">Sam Bankman-Fried 's hedge fund Alameda Research also has a large position in it. FTX clients began to withdraw money en masse, and the exchange was unable to cope with the sharp increase in withdrawals. Less than a week later, FTX declared bankruptcy.

In recent months, Binance has come under increasing attack from regulators. In June, the SEC filed a lawsuit against Binance and Zhao for violating securities trading rules. According to the court document, the commission recognized the BNB token and the BUSD stablecoin as securities. The SEC also demanded that the assets of Binance’s American division be blocked.

In early summer, the US division of Binance announced that the platform was stopping accepting deposits in US dollars and asked users to withdraw funds already deposited in this currency. The exchange stated that the «unfounded» SEC lawsuit «created problems» for the banks it works with.