Changpeng “CZ” Zhao, the chief executive officer of the Bitcoin and cryptocurrency exchange Binance, is now the wealthiest man in the world of cryptocurrency and blockchain.
The Hurun Global Rich List 2020, which ranks billionaires in the world, reports that Zhao sits on a $2.6 billion fortune and has replaced Bitmain co-founder Micree Ketuan Zhan as the world’s richest crypto billionaire.
Zhan, who held the title in 2018 and 2019, saw his wealth drop by over $1 billion following his ouster as executive director of Bitmain last year. From $2.7 billion in 2019, Zhan’s net worth is down to $1.6 billion. He now ranks second, after Zhao, in the list of crypto billionaires.
Responding to the Hurun list released last Wednesday, Zhao says he has not yet cashed in on his crypto holdings since he founded Binance in 2017.
“Valuation is a fascinating concept, like credit. Just checked my wallet, don’t have the $2.6b, missing a few 0s, lol. But even 1% is cool for me. Money is not a driver after a point, but it tends to go to people who build.”
In a new post on the Chinese social media Weibo, Zhao says he’s hoping his crypto assets will grow in value along with Binance.
The other crypto billionaires who made it to Hurun’s 2020 list are Xu Mingxing of OKCoin ($1.4 billion), Chris Larsen of Ripple ($1.3 billion), Li Lin of Huobi ($1.1 billion) and Brian Armstrong of Coinbase ($1 billion).
Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.
Featured Image: Shutterstock/Igal Melamed