Binance CEO emerges as top crypto billionaire of 2020


According to the Hurun Global Rich List 2020 released on Wednesday Binance CEO Changpeng Zhao emerged as the wealthiest and most successful crypto billionaire with an estimated net worth of over two and a half billion US dollars ($2.6 billion).

The Hurun Global Rich List is a highly anticipated list of who made it to the top of the pyramid. Amazon’s Jeff Bezos grabbed the top spot third time in a row with a net worth estimate of a whopping one hundred and forty billion US dollars ($140 billion). To make a fortune out of the cryptocurrency business is one thing but quite another to be named among the richest of the richest, and Binance CEO Changpeng Zhao has achieved just that.

Binance CEO surpasses Bitcoin billionaires to emerge as crypto king

The notable crypto entrepreneur left the famously called Bitcoin billionaires, the Winklevoss Twins, behind to bag the leading position in the global crypto rankings.  The Chinese-Canadian business tycoon and founder of the world’s largest cryptocurrency exchange by volume, Zhao managed to turn several heads with the phenomenal success of his trading platform.

From delving into cryptocurrency futures trading to introducing margin trading, Binance has essentially managed to serve every rising consumer need with an impressive response rate. Recently, the firm announced the launch of a Binance trading platform that is said to empower small-scale local exchanges with better operations in the market.

However, what is even more startling is the fact that Zhao was able to increase his wealth by two times over the last year despite his company getting caught up in several high-profile controversies. Last year, the exchange witnessed an unfortunate forty million US dollars ($40 million) worth hack, which had quite an impact on the business operations in the following months. There were also questions raised on where exactly is this exchange registered.

The who’s who of crypto

Despite the setbacks, it appears that Zhao has been able to double his net worth from around one billion US dollars ($1.3 billion) recorded last year. Meanwhile, closely following Zhao’s lead is Bitmain’s ousted co-founder Zhan Ketuan with net worth approximately one and a half billion US dollars ($1.6 billion). OKEx’s Xu Mingxing and Ripple Labs founder Chris Larsen were also a part of the prestigious listing.

Featured Image by Flickr

Manasee Joshi

Manasee Joshi

An avid reader and an enthusiastic writer, Manasee recently chose to dedicate her time doing freelance writing. A degree in English literature and experiences in Administration, HR, finance, literature, creativity and innovation tucked under her belt, she crafts engaging and compelling content for crypto and blockchain audience.

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