Binance founder CZ’s fortune gets slashed $12B, while SBF is still at $0

Binance co-founder and CEO

The recent fall pales compared to CZ’s once-rival Sam Bankman-Fried, who saw his $16 billion fortune effectively wiped out in November 2022 after FTX disclosed its liquidity crisis just days before it filed for bankruptcy.

Some believe the crisis was kicked off by a tweet from CZ when he announced that Binance was selling its FTX Token (FTT) holdings, triggering a mass of withdrawals from FTX. Zhao initially moved to buy the embattled exchange but pulled out less than 48 hours later.

Bankman-Fried took to the witness stand in his own criminal trial on Oct. 26, where he has previously pleaded not guilty to two counts of fraud and five counts of conspiracy.

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