{"id":49208,"date":"2023-06-07T04:44:55","date_gmt":"2023-06-07T04:44:55","guid":{"rendered":"https:\/\/lydian.io\/?p=49208"},"modified":"2023-06-07T04:44:57","modified_gmt":"2023-06-07T04:44:57","slug":"sec-lawsuits-are-eroding-the-net-worth-of-coinbase-and-binance-ceos","status":"publish","type":"post","link":"https:\/\/lydian.io\/sec-lawsuits-are-eroding-the-net-worth-of-coinbase-and-binance-ceos\/","title":{"rendered":"SEC lawsuits are eroding the net worth of Coinbase and Binance CEOs","gt_translate_keys":[{"key":"rendered","format":"text"}]},"content":{"rendered":"
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The web worths of Coinbase CEO Brian Armstrong and Binance CEO Changpeng Zhao (CZ) have taken a success amid current lawsuits from the US Securities and Trade Fee. <\/p>\n
Armstrong's internet price was slashed by $289 million and Zhao's by $1.33 billion in 30 hours after the Securities Trade Fee (SEC) listed first Binance on June 5 after which Binance on June 6 June sued Coinbase Data<\/a> from the Bloomberg Billionaires Index and Forbes.<\/p>\n Zhao \u2014 the richest man within the crypto business and the 54th richest particular person general \u2014 had his fortune fall<\/a> 5.1% to $26 billion this week.<\/p>\n The SEC's lawsuit in opposition to Binance has helped Zhao drop two spots within the Bloomberg Billionaire Index. Supply: Bloomberg<\/p>\n Though the Binance CEO's internet price has rebounded over 106% this 12 months, he is nonetheless over 73% beneath his peak internet price of $96.9 billion in January 2022.<\/p>\n Zhao's internet price has fallen from almost $100 billion to $26 billion since January 2022. Supply: Bloomberg <\/p>\n