Former Binance CEO CZ would have seen his bank account increase by $25 billion in 2023, according to the Bloomberg Billionaires Index.
Binance founder increases his wealth by 25 billion in 2023
As a reminder, CZ had to pay $50 million to be released on bail. Indeed, the DOJ won its case against Binance and its founder. The exchange will have to pay $4.3 billion .
As a result, CZ had to cede his role as CEO of the exchange to Richard Teng . Despite everything, the year 2023 will have ended in a positive way for the Canadian, at least for the balance of his bank account.
Indeed, according to the Bloomberg Billionaires Index , CZ would have generated an additional 25 billion dollars in 2023. As indicated by Bloomberg, CZ is therefore in 37th place among the richest men in the world. His fortune is estimated to be more than $37 billion.
CZ still blocked in the US
While he pleaded guilty to the DOJ charges, CZ is still barred from returning to his home in the United Arab Emirates. He also said he wanted to focus on investing in web 3.
Given his wealth, he could contribute to industry evolution and innovation. According to Bloomberg, CZ also owns BTC and BNB tokens, which are not included in the declared amount.
In short, CZ could risk a sentence of more than 18 months in prison . His next appearance before the American courts is scheduled for February 23.
Obviously, Binance and CZ benefited from the fall of FTX at the end of 2022. The exchange naturally positioned itself as the most important in the world.
It is also worth remembering that the SEC had accused Binance and CZ of misappropriating user funds . They said more than $12 billion had been sent to CZ-owned companies.