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Binance CEO became the richest billionaire in the cryptocurrency world

Changpeng Zhao:

While China's number of existing billionaires is greater than that of the United States and India combined, CEO Binance now owns a bigger fortune than any other cryptocurrency player.

Changpeng Zhao (CZ) – CEO of major cryptocurrency exchange Binance, surpassed the co-founder of cryptocurrency mining giant Bitmain in the latest Hurun Global Rich List – an annual ranking of The world's richest billionaire is published in the media publication Hurun Report.

OK released On February 26, Hurun Report's global list of 2,816 billionaires included six people making money from the blockchain and cryptocurrency industries.

Co-founder of Bitmain lost over $ 1 billion in just one year

Similar to the previous reviews of the Hurun Research Institute, the Hurun Global Rich List 2020 includes well-known industry names such as CZ of Binance, Xu Mingxing – OKCoin founder, and Chris Larsen – co-founder and former Ripple CEO.

However, the latest list of blockchain Hurun has had a significant change – Bitmain's co-founder, Micree Ketuan Zhan, has lagged behind CZ.

In Hurun Global Rich List 2019, Zhan is ranked as the top billionaire among the 5 cryptocurrency and blockchain billionaires, with an estimated fortune of US $ 2.7 billion. In the latest Hurun list, Zhan has fallen to No. 2, with a net worth of $ 1.6 billion.

At the time of writing, CEO Binance's assets soared from $ 1.3 billion in 2019 to $ 2.6 billion in 2020.

The 6 richest blockchain and cryptocurrency billionaires on the Hurun 2020 list are:

  1. Binance CEO Changpeng Zhao ($ 2.6 billion)
  2. Co-founder of Bitmain Micree Zhan Ketuan (US $ 1.6 billion)
  3. OKCoin Founder Xu Mingxing (US $ 1.4 billion)
  4. Ripple's Chris Larsen ($ 1.3 billion)
  5. Huobi Founder Leon Li ($ 1.1 billion)
  6. Coinbase co-founder and CEO Brian Armstrong ($ 1 billion)

Zhan was knocked out of Bitmain in late 2019

This news came out when Zhan was kicked out of the company's legal representative role in November 2019. According to Toiyeubitcoin's report, Zhan was dismissed by Bitmain CEO Jihan Wu. In January 2020, Zhan publicly protested allegations of layoffs at Bitmain – which is planning to cut 50% of its staff due to the upcoming Bitcoin halving event in May 2020. Zhan also initiated initiated a court case against Bitmain's shareholders to restore his voting control over the company.

The move to kick Zhan out of Bitmain comes before reports of the company seeing the hashrate market share drop from 75% to 66% in December 2019.

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According to CoinTelegraph
Translated by ToiYeuBitcoin

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