From prison to the top of the richest list. Changpeng Zhao is the most powerful man in the crypto world
Although the eyes of the world usually focus on the very top of the richest lists, no less fascinating stories often lie behind the wealthiest people further down the list. This year's Forbes billionaires ranking brought a sensation: 17th position. This is where Changpeng Zhao, the legendary creator of the largest cryptocurrency exchange Binance, was placed, whose fortune was valued higher than the fortune of the founder of Microsoft or the creator of Nike. This is a huge promotion after several years of turmoil, during which CZ even spent time in prison.
The famous CZ, i.e. 49 years old Changpeng Zhao founder of the largest cryptocurrency exchange Binance, a year and a half after leaving prisonwas classified in the annual ranking of the richest people in the world prepared by Forbes magazine in 17th place, with assets estimated at USD 110 billion. He overtook, among others, the founder of Microsoft Bill Gates (USD 105 billion), the heir to the Red Bull fortune Mark Mateschitz (USD 44 billion), or the creator of the Nike brand Phil Knight (USD 29 billion).
The richest crypto billionaire
That's what's interesting about all this new valuation of the Binance exchangewhich is not a public company listed on the stock exchange, where its market capitalization can be easily checked, as in the cases of Microsoft or Nike, but a private entity registered in the United Arab Emirates, in which CZ has about 90 percent. sharesas reported by the authors of the ranking. Thanks to the stock market, the Canadian of Chinese origin became the richest of the billionaires who made their fortune in the cryptocurrency industry.
Forbes billionaires ranking
This is an annual list of the richest people in the world, known as “The World's Billionaires”, published by the American magazine Forbes. The list is usually announced in the spring of each year. The first edition was published in 1987. This year's 40th Forbes billionaires list showed a record number of 3,428 billionaires, whose assets were valued at a total of $20.1 trillion. This represents an increase of 309 people and $4 trillion compared to 2025.
Although Binance does not publish detailed financial reports, Forbes analysts estimate its value at approximately $100 billion. It directly translates into Changpeng Zhao's astronomical fortune. In addition to shares in the stock exchange, his portfolio includes a large amount of BNB tokens, as well as a “small” pool of 1,400 bitcoins currently worth approximately $103 million.
Binace's valuation is already 12 figures
However, Binance's valuation is the most interesting thread here, because it means that CZ's fortune increased by about $47 billion in a year. According to Forbes' publication, conversations with industry experts revealed the enormous operational scale of the exchange, which accounts for approximately 38%. global cryptocurrency trade, which is the largest share of all exchanges.
Forbes reports that Binance processes over $30 trillion in trading volumes annually across spot and derivatives markets. In terms of revenues, the company is expected to “outclass the competition.” Binance is estimated to generate between $16 billion and $17 billion in revenue between 2024 and 2025.
For comparison, this is about two and a half times higher than what she achieved Coinbase exchange, listed on NASDAQ, valued at over USD 53 billion and benefiting from the regulated status of a public company, publishing reports and subject to US supervision.
“With amounts like these, Forbes
estimates that the exchange would probably be sold for a twelve-figure amount (at least USD 100 billion, editor's note) if CZ ever decided to sell it,” we read in the magazine.
Although On paper, Changpeng Zhao's net worth looks impressivehowever the foundations of its wealth remain much less transparent than traditional, listed assets billionaires such as Gates, Adani, and Knight. Especially since Binance's estimated valuation may be overshadowed by doubts about Binance's compliance with global sanctions.
The dark history of the Binance exchange
In recent weeks Fortune, The Wall Street Journal and The New York Times reported the flow of $1 billion to sanctioned entities in Iran.suggesting similar suspicions that the exchange has previously been accused of by the U.S. government. Binance denied these allegations, reports Forbes. However, it is difficult to forget how media reports and actions of the authorities can spoil the company's image and cause a massive outflow of funds.
Let us remind you that in 2023, Binance and its CEO, as part of a settlement with the US government, pleaded guilty to money laundering and circumventing international sanctions. The investigation revealed that the exchange knowingly served restricted countries (including Russia, North Korea and Iran), hackers laundering profits from cyber ransoms, child pornography traffickers and terrorist organizations such as Al-Qaeda and Hamas. Leaks from the investigation have resulted in exchange liquidity problems in the past.
As reported by a prosecutor working on the investigation, knowledge about this subject was so common in the company that one of its employees joked that Binance's advertising slogan should be: “If laundering drug money is too difficult for you these days – come to Binance”. The investigator added that, among other things, It is because of serving criminals that Binance has become the largest cryptocurrency exchange in the world.
As part of the plea agreement, Changpeng faced criminal charges and pleaded guilty. The company was fined $4.3 billion. Binance could no longer operate in the US. CZ was even sent to a California prison, where he spent 4 months. He was released from behind bars in September 2024. In November 2024, Donald Trump won the presidential election and in October 2025, as the US president, he pardoned Changpeng Zhao.
CZ, DJT and USA
White House spokeswoman Karoline Leavitt said Trump exercised his constitutional right to pardon Changpeng, who “was prosecuted by the Biden administration as part of its war on cryptocurrencies.” She noted that this “war” was over. Now Forbes suggests that “it is no accident that CZ's wealth increased when Donald Trump (…) regained power.”
The magazine draws attention to Binance's interconnection with Trump's businesses in the cryptocurrency industry. Binance has accepted the stablecoin World Liberty, a project linked to the Trump family. The MGX fund from Abu Dhabi is involved in the US president's crypto projects, having invested $2 billion in the mentioned stablecoins. Then in March 2025 MGX invested $2 billion in Binance. According to observers interconnections and Changpeng's pardon will most likely pave the way for Binance's return to the US marketand this may mean that CZ may be even higher in the Forbes ranking in the coming years.
