Despite the legal challenges he faces today, Binance founder and former CEO Changpeng Zhao experienced the best financial period in his history. During the year 2023, its wealth has increased by approximately $25 billion.

According to Bloomberg’s Multi-Billionaire Index, Zhao ranks 35th among the wealthiest people in the world. Its fortune is estimated at about $37.2 billion, calculated on the basis of net capital, ownership and stakes in recognized companies. It should be noted that this figure does not include the cryptocurrencies that Zhao may have in his wallets, such as Bitcoin and BNB, which are part of his personal assets.

With this position, Zhao’s fortune significantly outperforms other leading figures in the crypto industry. For example, Brian Armstrong, CEO of Coinbase, has $7.2 billion, while Gemini co-founders Tyler and Cameron Winklevoss each own $2.7 billion. Barry Silbert, founder and CEO of Digital Currency Group, boasts a fortune of $2 billion.

Despite its prominence in the world of cryptocurrencies, Zhao has attracted more attention in recent months due to the announcement by the U.S. Department of Justice. It was revealed that the former executive of Binance and the platform reached an agreement of more than 4 billion to resolve irregularities, in addition to facing the payment of a personal fine of at least 50 million.

K. Tovar

Source: Diariobitcoin

(Reference image source: @nbwpress, X)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Zhao’s fortune remains high, despite his troubles apareció primero en Bitfinance.

In a legal action filed Nov. 27 in a U.S. district court in Florida, soccer star Cristiano Ronaldo finds himself at the center of a class-action lawsuit. The plaintiffs allege that Ronaldo was actively involved in the offer and sale of unregistered securities in collaboration with Binance, a cryptocurrency exchange currently embroiled in legal trouble.

Ronaldo, who partnered with Binance in mid-2022 to promote non-fungible tokens (NFTs), is being accused of promoting investments in unregistered securities through his NFT, linking his followers to Binance for investment purposes. . The complaint claims that Ronaldo’s massive influence, with 850 million social media followers, contributed significantly to the success of Binance’s NFT sales, generating a 500 % increase in searches for the platform in the week following launch.

The lawsuit argues that Ronaldo, with his extensive investment experience and resources, must have known about Binance’s alleged sale of unregistered crypto securities. In addition, it points out that the footballer did not reveal the payments received for promoting cryptocurrencies, contravening the guidelines of the US Securities and Exchange Commission (SEC).

The plaintiffs, Michael Sizemore, Mikey Vongdara and Gordon Lewis, are seeking damages as well as funds to cover legal costs arising from the situation.

K. Tovar

Source: Cointelegraph

(Referential image source: X, @e7ernamente)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Cristiano Ronaldo would be in legal trouble for promotion of crypto exchange apareció primero en Bitfinance.