CryptoCodex: Businesshala Estimates Binance’s CEO Is Worth Almost $100 Billion As The Bitcoin Price Plummets

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strong legs

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Cryptocurrency prices may not climb up, but at least they are no longer in freefall. Bitcoin Despite a break higher yesterday, the price is more or less flat at the moment yesterday. Bitcoin climbed to around $43,000 before falling to $40,000.

Most of the remaining cryptocurrencies in the top ten as measured by CoinMarketCap are equally stable after a surprisingly quiet weekend. Ethereum is down nearly 1% with its biggest rivals Binance bnb, solana And cardano, Terra Key Luna Major is leading the market with a decline of about 5%.

Ethereum Challenger, just outside the top ten Avalanche and polygons matic Both are making gains this morning, however, up 2% and 3% respectively.

Read this now: the metaverse needs a constitution

CZ is going to make it

Enjoy being rich While crypto traders desperately try call the crumbling market floorChangpeng “CZ” Zhao, founder and chief executive of Binance, the world’s largest crypto exchange, has pegged his estimated worth at $96 billion. Businesshala– and this is without taking into account CZ’s individual crypto holdings, so it is a fairly low estimate.

but but… To reach the number of $96 billion, Businesshala CZ is believed to own 90% of Binance, and estimates the exchange’s revenue from spot and derivatives trading volume and advertised fees and values ​​the business using its publicly traded peers. However, CZ declined to comment on the report and Binance disputed the accuracy of the estimates. According to crypto data site CoinGecko, Binance claims a 24-hour trading volume of $106 billion as of January 6, and generated revenue of $20 billion as of the previous year. Businesshala,

Rich List: The calculations make CZ one of the richest people in the world, putting him in the top 10 around the level of Facebook billionaire Mark Zuckerberg and legendary investor Warren Buffett. Businesshala‘Latest rich list. Meanwhile, CZ easily takes the top spot crypto among the rich, FTX’s Sam Bankman-Fried ($22.5 billion), Coinbase’s Fred Ehrsam ($3.5 billion) and Brian Armstrong ($11.5 billion), Gemini’s Cameron and Tyler Winklevoss ($4.3 billion each), and Ripple and Stellar co- Overtakes founder Jed McCaleb. ($3 billion). Businesshala The mysterious bitcoin founder, known only as Satoshi Nakamoto, holds the fortune of $45 billion.

Big Stack: CZ’s road to crypto money began in 2013 in Shanghai, according to Businesshala Reports, when the then CEO of BTC China Bobby Lee and investor Ron Cao encouraged him to put 10% of his net worth into bitcoin.

Coming to importance: “Coinbase may seem like an 800-pound gorilla from a US perspective, but Binance is huge,” said Chris Brendler, analyst at DA Davidson & Co. Businesshala, Binance’s rapid growth in recent months has put it in the crosshairs of regulators around the world and the company is still battling with executives who have taken a dim view of its controversial “decentralized” corporate structure.

CZ on Elon Musk: “I would love to connect with him in the future,” said CZ Businesshala event in November

Read this now: The rich get richer—rethinking bitcoin’s power as an inflation hedge

N26 misses the crypto boat

According to an interview with the co-founder and co-founder of the online bank, N26, Berlin-based Neobank, which counts Peter Thiel’s Weller Ventures and Hong Kong business magnate Lee Ka-shing among its backers, is expected to expand its geographic footprint. But the focus should have been on crypto. Chief Executive Max Teenthal.

️ “Should we have been trading and building crypto instead of launching in the US? In retrospect, this could have been a smart idea,” said Teenthal financial Times, N26 plans to launch a cryptocurrency trading business this year and then an equity brokerage.

N26, which is now leaving the US market after exiting the UK in 2020, is one of Europe’s most valuable fintech startups, achieving a price tag of €7.8 billion ($8.8 billion) last year, when it Another increase of €780 million.

good to know: This Tesla owner says he mins up to $800 a month in cryptocurrency from his car

next week

Watch out for these cryptocurrency and crypto-imminent events this week.

Tomorrow, the World Economic Forum will publish its latest Global Risk Report. Bubbly markets and asset prices may well represent and crypto prices can also be designated as a risk to the financial system. many economists and world leaders Recently given such warnings,

Also tomorrow, Federal Reserve Chairman Jerome Powell will appear before the Senate Banking Committee to hear his nomination for a second term that controls the US central bank.

️ On Wednesday, the latest US Consumer Price Index falls will provide an update on inflation. Price surges hit a 39-year high in November and are prompting the Federal Reserve to act, with investors running for cover.

On Thursday, the United Nations is set to publish its World Economic Situation and Prospects Report for 2022.

Fourth-quarter earnings season gets underway this week with Wall Street giant JP Morgan
JPM
, Citigroup
C
and Wells Fargo
WFC
o All posting their full year marks on Fridays. As well as past performance, the markets are highly attuned to updates on the company’s outlook for 2022.

Read this now: Crypto diehards are about to find out if it was really a bubble

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