Binance founder CZ made over $25 million per day while in prison, report
Former Binance chief Changpeng Zhao’s four-month prison stay might have actually been a pretty lucrative career move. Indeed, from the moment he entered a California prison earlier this summer to his release last week, the Binance founder might well have made more money than most executives could hope to earn in their lifetime. Although his wealth is mostly derived from equity in privately held companies, Forbes’ calculations of CZ’s net worth indicate that he could have made billions of dollars personally while serving his prison sentence. In fact, according to one such estimate, he may have made $25 million for every day he was in prison . However, it’s important to note that another news agency with a more conservative methodology, Bloomberg, estimates that CZ actually lost money while in prison. Detailed commentary for these estimates appears below. Determining the dates of CZ’s prison term In November 2023, CZ pled guilty to wilful violations of the Bank Secrecy Act tha...