Binance founder Changfeng Zhao, the world’s largest digital asset exchange, was ranked 17th on Forbes’ World Billionaires List with a net worth of about $110 billion. The figure places Zhao ahead of Microsoft co-founders Gates, underscoring the rising value attributed to Binance and Zhao’s stake in the company. Forbes also cited Binance’s estimated corporate value near $100 billion, reflecting the wealth linked to Zhao’s leadership.
U.S. federal prosecutors pointed out that Binance became a hub for illegal transactions in 2023, including child sexual exploitation, drug trafficking, terrorist financing, and money laundering. Court documents revealed the firm lacked an anti-money laundering (AML) reporting system, and employees were aware of it. Binance and Zhao eventually admitted to violating U.S. AML laws, Zhao stepped down as CEO, and served four months in federal prison.
Dogecoin was rattled again by Elon Musk’s tweet. Musk announced on the 10th (local time) that he will unveil X Money, a payment service for X, next month. Dogecoin has surged more than 5% on the news, reflecting Musk’s prior favorable remarks about the meme cryptocurrency.
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