фото показано с : invezz.com

Changpeng Zhao, popularly known as CZ, is a man under pressure after the Securities and Exchange Commission (SEC) filed a major lawsuit in the United States. As we wrote here, the lawsuit makes several allegations, including offering unregulated securities in the US and mishandling of billions of dollars.

Changpeng Zhao’s Binance is also facing a major lawsuit by the Commodity Futures Trading Commission (CFTC). The CFTC alleges that the company provided derivative products to Americans without following the law.

Despite these worries, Binance and other cryptocurrencies seem to be doing well. Bitcoin is loitering at $26,500, where it was when the SEC filed its lawsuit. Similarly, Ethereum has been stuck above $1,800 while the total market cap of all digital currencies is still above $1 trillion.

Binance is also handling billions of dollars. According to CoinMarketCap, the company’s volume in the past 24 hours came in at over $9 billion. Coinbase, which is also targeted by the SEC, handled over $1 billion.

Further data by DeFi Llama shows that Binance has over $50 billion in clean assets. Clean assets are those that exclude tokens issued by the company and those counted in other chains. As I wrote on Tuesday, there are signs that Binance is seeing some inflows.

Data compiled by Bloomberg and Forbes show that Changpeng Zhao is still a very rich man. However, unlike other billionaires, getting a real estimate for his wealth is relatively difficult because Bnance is a private company. 

Bloomberg estimates that CZ has a net worth of over $25 billion, making him the 57th richest man on earth. His net worth has dropped by almost $1 billion in the past 24 hours. Still, his worth has jumped by over $12 billion this year, helped by the strong performance of cryptocurrencies.

Forbes, on the other hand, has pegged his net worth at $10.5 billion. At his peak, Forbes estimates that he had a net worth of over $66 billion.

The real net worth of Changpeg Zhao is hard to estimate but I believe that Bloomberg’s estimate is a bit high. For one, Coinbase, a good barometer of crypto companies valuations, is worth about $12 billion.

The impact of these lawsuits on Binance and Changpeng Zhao is still cloudy for now. To a large extent, the company is immune since its main exchange does not have operations in the country. The future of Binance.US could be complicated considering that regulators have focused on it. But this business is smaller than Binance since ot handles less than $200 million every day

The post Changpeng Zhao (CZ) net worth steady after the SEC lawsuit appeared first on Invezz.

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