Binance CEO Allegedly Incurs a $12 Billion Loss Amid Regulatory Challenges

Changpeng Zhao, the founder and CEO of the largest cryptocurrency exchange, Binance, has reportedly experienced a $12 billion reduction in his fortune due to issues faced by the trading platform.The Bloomberg Billionaires Index revised down its earnings projection for the Binance cryptocurrency exchange by 38% in light of declining platform revenues. Consequently, Zhao's wealth has dwindled by $11.9 billion, bringing his total net worth to $17.3 billion. KEEP READING