Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps - Business

Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps - Business - Nairaland

Nairaland Forum › Nairaland General › Business › Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps (30419 Views)

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Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by Stephenzzz(op): 12:01pm On Oct 27, 2023

Binance Founder CZ Loses $12 Billion on Crypto-Trading Slump

*Crypto exchange CEO’s wealth has plunged 82% since its peak
*US regulators have sued Binance alleging a range of violations

Sam Bankman-Fried, on trial for fraud in New York, isn’t the only crypto founder feeling the heat.

The Bloomberg Billionaires Index slashed its estimate of revenues at crypto exchange Binance by 38% after data showed volumes at the firm declined this year. That wiped $11.9 billion from the fortune of Binance’s founder, Changpeng Zhao, known as CZ, dropping him to $17.2 billion.

https://www.bloomberg.com/news/articles/2023-10-26/binance-founder-cz-loses-12-billion-on-crypto-trading-slump#xj4y7vzkg

7 Likes 4 Shares

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by abhosts(m): 12:14pm On Oct 27, 2023

There is a higher likelihood that you would lose money with crypto than make money.

Stay away from crypto.

258 Likes 27 Shares

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by whippersnapper(m): 3:11pm On Oct 27, 2023

make Dangote lose 12 billion in a year I want to check something

27 Likes 6 Shares

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by Yugoslavia247(m): 3:11pm On Oct 27, 2023

Na billions of dollars wey we dey borrow na him this guy lose.

118 Likes 8 Shares

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by AllDModsAreMaad: 3:11pm On Oct 27, 2023

The probability of making money with this crypto is lesser than you losing money with crypto.

89 Likes 7 Shares

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by DropsMic(m): 3:12pm On Oct 27, 2023

Hmmm

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by emmabest2000(m): 3:12pm On Oct 27, 2023

Danm

17 Likes 3 Shares

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by 99thEnemy(m): 3:12pm On Oct 27, 2023

abhosts:
There is a higher likelihood that you would lose money with crypto than make money.

Stay away from crypto.

7 Likes

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by olaboy33(m): 3:12pm On Oct 27, 2023

1 Like

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by DropsMic(m): 3:12pm On Oct 27, 2023

abhosts:
There is a higher likelihood that you would lose money with crypto than make money.

Stay away from crypto.

Dey whyne yourself

64 Likes 11 Shares

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by EFGH: 3:12pm On Oct 27, 2023

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by PDPdestroyer(m): 3:12pm On Oct 27, 2023*

Crypto is one big scam. It has ruined many lives grin

Meanwhile, the Naira is gaining massively, I'm in trouble grin

48 Likes 9 Shares

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by Robnectar(m): 3:12pm On Oct 27, 2023

abhosts:
There is a higher likelihood that you would lose money with crypto than make money.

Stay away from crypto.

Dumb advice to your fellowdumbos🤢🤢

43 Likes 11 Shares

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by Raskimonojendor: 3:13pm On Oct 27, 2023

Crypto is just gambling.

80 Likes 9 Shares

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by fixedhollies(m): 3:13pm On Oct 27, 2023

No be there him gather the money before? Money simply went back to the source

23 Likes 1 Share

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by davidtuzy(m): 3:13pm On Oct 27, 2023

Crypto Fit Give Somebody Heart Attack 😣😣😣

24 Likes 1 Share

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by chris4gold(m): 3:13pm On Oct 27, 2023

Hmmmm, hope no be wetin I dey think

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by Ayoola171(m): 3:13pm On Oct 27, 2023

That's serious

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by Nwaokunkpara: 3:13pm On Oct 27, 2023

Nawa ooo

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by taiwolomo1: 3:13pm On Oct 27, 2023

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by StOla: 3:13pm On Oct 27, 2023

Yekpaa!

But most currencies have gained massively over the last 4weeks.

BTC gained about $9k moving from $25k to $34k over the 4week period.

34 Likes 6 Shares

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by DARLINGTON869(m): 3:13pm On Oct 27, 2023

E go up today...e crash tomorrow.....hmmm!

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by ecolime(m): 3:13pm On Oct 27, 2023*

People still dey invest in Crypto? shocked

Don't play, you will learn.

31 Likes 2 Shares

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by MorataFC: 3:13pm On Oct 27, 2023

Good news to some grin

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by StOla: 3:14pm On Oct 27, 2023

Raskimonojendor:
Crypto is just gambling.

You are not far from the truth.

17 Likes 2 Shares

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by bigdammyj: 3:14pm On Oct 27, 2023

Noted.

Re: Binance CEO, Changpeng Zhao, Loses $12 Billion As Crypto Market Slumps by netpro(m): 3:14pm On Oct 27, 2023

If those are speculating and stockpile dollars in naira don't sell quick and release dollars back to the system in time, when Naira appreciates, they too will be counting losses.

Soon you will start hearing, Buy the Deep.

34 Likes 3 Shares