TechFlow reports, citing Bloomberg, that due to Binance's declining trading volume throughout this year, Bloomberg has reduced its revenue forecast for Binance by 38%. This adjustment has caused a $11.9 billion drop in Binance founder Changpeng Zhao's (CZ) personal wealth, bringing it down to $17.2 billion. CZ's net worth had peaked at $96 billion in January 2022. Compared to that peak, his personal wealth has declined by 82%.
Earlier, in December 2022, Forbes reported that since March 2022, 17 of the wealthiest investors and founders in the cryptocurrency sector collectively lost approximately $116 billion in personal wealth. Among them, 15 individuals lost more than half of their net worth over the previous nine months, with 10 losing billionaire status entirely. At that time, CZ's net worth had dropped 93.07% from March levels to $4.5 billion. CZ responded then, stating he believed Forbes had overestimated crypto asset values in March while ignoring losses, and that they were still overestimating his current net worth.
