Binance CEO Announces His Portfolio!

Changpeng Zhao, CEO of Binance, the world's largest cryptocurrency exchange, recently shared the weight ratios of cryptocurrencies in his portfolio.

Stating that he prefers to keep all of his money in crypto assets at every opportunity, the CEO was known to hold Bitcoin and Binance Coin (BNB). Responding to a follower's comment that "Cz will be the richest person in the world in the future", Cz said, "My assets: 99% BNB and 1% Bitcoin". https://twitter.com/MCS_Shayne/status/1550960575013949441

What Is Binance Coin (BNB)?

Binance Coin is a cryptocurrency issued by the Binance exchange and traded under the symbol BNB. Binance Exchange is the world's largest cryptocurrency exchange with a volume of $7.6 billion as of Q2 2022. Binance coin originally ran on the Ethereum blockchain with the ERC 20 standard, but has since become the native coin of the Binance chain. It was launched in July 2017 during an initial coin offering (ICO) and has a maximum of 200 million BNB tokens. Angel investors were offered 10% or 20 million BNB tokens, the founding team 40% or 80 million tokens, and the remaining 50% or 100 million tokens were offered to various participants throughout the ICO process. Almost half of the funds raised during the ICO process were used for Binance branding and marketing, while about a third was used to build the Binance platform and make necessary upgrades to the Binance ecosystem. BNB was originally based on the Ethereum network but is now the native currency of Binance's own blockchain, the Binance chain.

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BNB is trading at $284, while Binance's CEO has increased his posts on BNB amid signs of a turnaround in Bitcoin. Considering that BNB was $30 at the beginning of 2021 when the bull market started, we see that the price is still 10 times higher despite the harsh winter of 2022. Especially recently, while many cryptocurrency exchanges have been experiencing liquidity problems and laying off workers, Binance's increase in the number of employees and the message that "we have enough money" reinforced the confidence in the exchange. Binance's announcement that it will not take commission from Bitcoin trading due to the crypto winter was interpreted as the most obvious indicator that the exchange does not have a liquidity problem. With these moves, Binance sends the message that we are strong despite the crypto winter, while BNB continues to maintain its solid foundation, influenced by these messages.