Jail cannot hold a crypto tycoon.

Prison time can be the lowest point of a person's life. It can bring a lot of miseries – the worst when it comes to one's financial needs. There is no argument there, because there is no reason why the time of regret should be better than the present. Interestingly, a recent Forbes article about Binance founder Changpeng Zhao's fortune paints a surprising picture. What no one expects!

Incredible CZ Wealth Growth: Behind Prison Walls

Binance's founder, who goes by his initials CZ, began serving a prison sentence on June 2, 2024, to settle charges brought against him by various U.S. officials related to his company's criminal violations. Bank Secrecy Act. He was released from a low-security prison in Lompoc, California on September 27 after serving nearly three months behind bars.

According to Forbes, his net worth was about $33 billion when he entered prison, and by the time he left prison, it had grown to a staggering $61 billion. According to Forbes, it is clear that at least $28 billion in prison time has increased.

According to a news report, Forbes took into account CZ's equity in Binance-related companies and his personal holdings in cryptos to calculate his net worth.

In particular, Zhao has large personal holdings in cryptocurrencies, particularly Bitcoin and Binance Coin.

Looking at the Bitcoin daily chart, on June 2, the price of BTC was about $67,724. By September 27, it had dropped to $65,809.

Analyzing the daily chart of Binance Coin, on June 2nd, the price of Binance coin was close to $602.7. On September 27, it increased slightly to $607.7.

Based on the chart data, while the Binance Coin market posted a slight increase of 0.82%, the Bitcoin market posted a 2% loss during the period.

Experts dispute reports of CZ's massive wealth gains during his imprisonment.

Just as the chart data contradicted Forbes' view of CZ's wealth growth, Bloomberg issued a contrary opinion in support of the dissenting experts observed by Forbes.

According to Bloomberg, during his imprisonment, CZ's fortune dropped from $36.5 billion to $30.8 billion. This 18.8% decrease was observed using the methodology used by Forbes.

According to a news report, Bloomberg considered some additional factors, such as the loss of Binance's reputation as a brand.

Anyway, Binance is still the highest cryptocurrency exchange, with a total monthly visit of 53 million. The 24-hour trading volume is $17,590,622,613. The exchange rate on June 2 was $10,064,043,376. By September 27, it had reached $17,010,578,954. Over the past three months, the amount has mostly hovered between $18,810,836,736 and $6,420,997,018. In the year On August 5, it reached a peak of $38,229,544,392.

In conclusion, we have no reason to believe that Binance as a brand suffered any harm during CZ's imprisonment, nor do we have any information to assume that the company's day-to-day operations were affected during that time. The conflicting nature of Forbes and Bloomberg's findings on CZ wealth reflects that it is not easy to find the wealth of people whose wealth is focused on cryptos and crypto-related companies – known for its volatility and unpredictability.

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