According to Bloomberg Billionaires Index calculations, Binance founder Changpeng “CZ” Zhao’s wealth likely decreased by $11.9 billion as income at the biggest cryptocurrency exchange in the world dropped by 38%.Bloomberg said on Friday that CZ’s fortune will decrease to $17.2 billion as a result of the decline.According to Bloomberg, his net worth peaked in January 2022 at $96 billion.
Using data tracking websites like CoinGecko and CCData, the Bloomberg Billionaires Index determines Binance’s revenue by analyzing trading data from the spot and derivatives markets.
According to CCData, Binance’s market share in cryptocurrency trading decreased to 51% by the end of the third quarter, from a peak of 62% in the first quarter due to a zero-fee offer.