CZ Overtakes Bitmain’s Latest Hurun Rich List co-found...
Binance, Blockchain

CZ Overtakes Bitmain’s Latest Hurun Rich List co-founder

A new report reports that while China now has a greater total number of billionaires than the US and India, Binance CEO could have more wealth than any cryptoelectric human.

The annual list of the wealthiest billionaires in the world released Chinese media Report (Hurun), Changpeng Zhao has overtaken Binance CEO Bitmain, the co-founder of the cryptocurrency mining firm Bitmain.

The latest Hurun Survey, published on February 26th, features 6 people who have made their wealth from blockchain and crypto business, including 2,816 global billionaires.

The former co-founder of Bitmain lost over $1 billion per year

Similarly to the Hurun Research Institute’s previous compilations, the Hurun World Rich List 2020 features well-known brand names such as Binance’sCZ, the creators of OKCoin, Xu Mingxing and Chris Larsen, Ripple’s co-founder and former CEO.

However, the new Hurun blockchain ranking of billionaires is undergoing a major transformation— Bitmain’s exiled co-founder Micree Ketuan Zhan, a long-term listed member, has fallen short of CEO Binance. Zhan rated the world’s top-billionaire among five Crypto and blockchain billionaires from a previous annual list of the world’s biggest billionaires, Hurun Global Rich List 2019. In the latest Hurun list, Zhan has slipped to the second rank, with net worth standing at $1.6 billion.

At the same time, Binance CEO’s rank has notably surged from $1.3 billion in 2019 to $2.6 billion in 2020, according to the publicly available lists.

The six wealthiest blockchain and crypto people in the latest Hurun list are:

  1. Binance CEO Changpeng Zhao ($2.6 billion).
  2. Bitmain’s ousted co-founder Micree Zhan Ketuan ($1.6 billion).
  3. OKCoin’s founder Xu Mingxing ($1.4 billion).
  4. Ripple’s Chris Larsen ($1.3 billion).
  5. Huobi’s founder Leon Li ($1.1 billion).
  6. Brian Armstrong, co-founder, and CEO of major United States crypto exchange Coinbase ($1 billion).

In late 2019, Zhan was removed from Bitmain

The co-founder of Bitmain’s dip in the Milliardaire Hurun rating is after Zhan was dropped in November 2019 as the company’s legal representative. Zhan has been fired by new Bitmain CEO Jihan Wu. In January 2020, Zhan publicly opposed Bitmain’s reported lay-offs, which would decrease the Bitcoin (BTC) halving by 50 percent in May 2020. Zhan has allegedly begun a legal procedure for recovering the company’s voting rights against Bitmain owners.

Zhan’s deletion of Bitmain followed news that in December 2019, his market share for hash rate fell from 75% to 66%.

In the meantime, in the crypto world, the CZ of Binance has become the first-class crypto-man in the top 100 rankings. In the same period, CZ has recently faced reputational problems due to the unplanned maintenance of Binance on 19 February, which was a major problem on the website.

Leave a Comment

Your email address will not be published.