Meet world's richest prisoner Binance ex-CEO Changpeng Zhao, whose net worth has risen even behind bars!

Back in April, world’s largest cryptocurrency exchange Binance, got the biggest jolt when its founder and CEO Changpeng Zhao was sentenced to four months in prison for money laundering. This came after he pleaded guilty to violations of US anti-money laundering and sanctions laws last year.   

Once the most influential figure in the global cryptocurrency industry, he has now become the second prominent crypto leader to be incarcerated, following Sam Bankman-Fried of FTX.

World's richest prisoner Changpeng Zhao’s net worth

reuters

Changpeng Zhao, according to Bloomberg, has become the wealthiest person ever to be incarcerated in the US and possibly globally as well. With a net worth of $43 billion (Rs 3.5 lakh crore) at the time of being jailed, his wealth was projected to grow despite his imprisonment, driven by the cryptocurrency market boom.

As predicted, his wealth did soar during his four-month prison term. Despite significant legal battles, including a $50 million fine and resigning as CEO, Zhao's personal fortune has skyrocketed, making him the wealthiest prisoner in history with an estimated net worth of $61 billion(Rs 5 lakh crore). This remarkable financial growth is primarily due to his substantial holdings in Binance and its cryptocurrency, BNB, which have experienced substantial gains in 2024.CZ reportedly holds approximately 64% of the circulating supply of BNB tokens, totaling around 94 million BNB.

Going by this latest development, he is now the world's 24th wealthiest individual.

Also Read : Once 'Crypto King', Sam Bankman-Fried Now Faces 25 Years In Prison For Rs 66,000 Crore Fraud

Changpeng Zhao guilty over money laundering violations

coinchapter

Changpeng Zhao, who resigned as CEO of Binance last year, still holds an approximate 90% stake in the company. He was sentenced by U.S. District Judge Richard Jones in Seattle to a prison term shorter than the three years sought by prosecutors, and below the maximum 1-1/2 years recommended under federal guidelines.

Once regarded as the most influential figure in the cryptocurrency industry, Zhao, also known as "CZ," becomes the second major crypto executive to be incarcerated. Earlier in March, Sam Bankman-Fried received a 25-year sentence for embezzling $8 billion from customers of his now-defunct FTX exchange.