CZ's wealth shrinks by 11.8 billion RMB! Tops Bloomberg Billionaires Index in losses, surpassing Musk and Zuckerberg.

According to the Bloomberg Billionaires Index, the estimated revenue of the cryptocurrency exchange Binance has dropped by 38%, leading to a $11.8 billion decrease in wealth for Binance founder Zhao Changpeng CZ on the Bloomberg Billionaires Index. The index calculates this using data from Coingecko and Coinpaprika.

CZ's Wealth Shrinks by $11.8 Billion, Musk Left in the Dust

According to Bloomberg, Binance founder Zhao Changpeng, also known as CZ, is currently ranked 95th on the billionaire list with a net worth of $17.3 billion. Compared to last year, CZ's assets have decreased significantly by $11.8 billion, landing him the top spot in the "losses" category. The second biggest loser in terms of asset shrinkage is Tesla founder Elon Musk, who lost $4.76 billion, less than half of CZ's losses.

CZ's wealth reached its peak of $96 billion in January 2022.

SBF: The Worst Hit Among Crypto Billionaires

FTX founder SBF, who was also once on the billionaire list, saw his wealth plummet from $26 billion in March last year to zero.

Binance's Predicament

Following the FTX incident, Binance has faced regulatory scrutiny from the U.S. CFTC and SEC, leading to lawsuits against Binance US and Zhao Changpeng. Market downturn due to interest rate policies and regulatory restrictions imposed by multiple countries have also constrained Binance's market.

Binance's motion to dismiss lawsuit rejected again: CFTC is not the global derivatives police

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