The BNB amount in CZ’s portfolio was astounding!

Old BinanceCEO Changpeng Zhao ( C.Z.) reportedly owns 64 percent of the supply of BNB in ​​circulation (94 million tokens).

The Forbes report revealed that CZ holds a very large portion of the BNB circulating supply. According to the analysis conducted by Gray Wolf Analytics and the financial institution, 80 million BNB was allocated to the Binance founding group and the company still controls 46 million of these unique tokens.

The report also stated that Binance and CZ jointly hold 71 percent of the 147 million BNB in ​​circulation. Zhao’s 90 percent stake in Binance and the value of his crypto assets make him the 24th most powerful person in the world, with an estimated net worth of $61 billion.

BNB tokenomic structure

BNB is the native token used for prices and rewards on the Binance exchange. The maximum supply of the utility token is 200 million and more than 153 million BNB is circulating in the market.

The current market value of BNB, which is $593 per token, is over $91 billion. BNB has been enjoying a bull run, more than doubling from a low of around $290 in January 2024 to a high of $724 in June.

Ministry of Justice – CZ equation

In 2023, the US Department of Justice (DOJ) announced indictments against Zhao and Binance for allegedly violating sanctions and money laundering clauses. Zhao, who was CEO at the time, made a plea agreement with US prosecutors.

CZ pleaded guilty to violating the Bankruptcy Act and agreed to step down from his leadership position at Binance; he was replaced by current CEO Richard Teng. The agreement also included a fine of $50 million for the former CEO and $4.3 billion for Binance. Additionally, the DOJ appointed Forensic Risk Alliance, an independent consulting firm, to serve as Binance’s watchdog for the next three years.

On April 30, Zhao was sentenced to four months in prison by US federal judge Richard Jones; This was a far cry from the three-year sentence recommended by US prosecutors for Zhao’s alleged role in fending off sanctions violations and facilitating money laundering.