Binance founder and former CEO Changpeng Zhao entered a California prison on June 1 to serve his sentence for violating U.S. anti-money laundering regulations. With the soaring price of Binance Coin (BNB), his net worth jumped by $4.1 billion. U.S. media revealed that he has become the wealthiest incarcerated individual in the country.
U.S. Judge Richard Jones sentenced Changpeng Zhao to four months in prison. The sentence was significantly lighter than the prosecution's request due to his voluntary surrender, willingness to take responsibility, lack of criminal history, and numerous support letters from industry figures, the crypto community, and family and friends.
Once the richest Chinese person, Changpeng Zhao’s wealth has continued to increase despite his imprisonment. According to Fortune, his net worth increased by $4.1 billion within a few months.
U.S. media reported that during his first week in prison, Binance Coin surged past $720 to a historic high, cementing his status as the wealthiest incarcerated individual in the U.S. This increase added $4.1 billion to his 2023 year-end valuation of $43 billion.
On Tuesday, June 11, during Asian trading hours, Binance Coin fell back to $624.30, but the bulls still controlled the market.
According to the 2023 Forbes billionaire rankings, Changpeng Zhao's current wealth places him between the 45th and 50th positions globally.
Although Changpeng Zhao has never publicly disclosed his Binance Coin holdings, the 2017 Binance Coin whitepaper states that 80 million Binance Coins were allocated to the founding team. At current market prices, this is equivalent to about $51.2 billion.
Last Saturday, Binance announced that its global registered users had reached 200 million. Binance CEO Richard Teng stated that within just two years and two months, the number of users grew from 100 million to 200 million, marking not only Binance's victory but also the robust growth and maturity of the broader crypto industry.
“This reflects the transition of crypto assets from ‘early adopters’ to ‘early majority,’ indicating that more people worldwide are beginning to embrace crypto assets and the limitless possibilities they bring,” he mentioned.
Richard added, “We are very honored and humbled to welcome 200 million registered users who trust Binance. This achievement highlights the continued trust in the Binance ecosystem by the crypto community and industry participants.”
“We cherish this trust. As a user-centric platform, we are always committed to meeting the growing needs of our users and prioritizing them.”
Looking ahead, he pointed out that Binance remains focused on promoting inclusive finance and innovation. As the industry moves towards the collective goal of attracting 1 billion users, Binance’s determination to foster sustainable growth in the crypto asset field has become even stronger.
“This industry’s evolution is an exciting journey, and Binance is thrilled to be at the forefront,” he concluded.
According to CoinTelegraph, Binance’s user growth has been rapid. By the end of 2022, Binance had about 130 million registered users, and in 2023, it added 40 million users, bringing the total to 170 million. If the trend continues, Binance is expected to reach 300 million total users by 2026.
Based on Triple-A research, the number of global cryptocurrency holders will reach 562 million in 2024, an increase of 142 million from 420 million in 2023. This data shows that Binance users account for approximately 36% of the global crypto user base.
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