A recent Forbes report has revealed that former Binance CEO Changpeng Zhao, widely known as 'CZ', owns a staggering 64% of Binance Coin’s (BNB) circulating supply, amounting to approximately 94 million BNB tokens. This substantial holding significantly contributes to Zhao's net worth, which Forbes estimates at $61 billion, positioning him as the 24th richest person globally.

The forensic analysis conducted by Gray Wolf Analytics and the financial publication found that 80 million BNB tokens were initially allocated to the Binance founding team, with the company retaining control over 46 million of those original tokens. The report highlights that Binance and CZ together hold 71% of the 147 million BNB currently in circulation. Zhao's 90% equity stake in Binance, along with his substantial crypto holdings, has propelled him to the top echelons of global wealth.

BNB, the native token of the Binance exchange, is integral to the platform, used primarily for transaction fees and rewards. With a maximum supply cap of 200 million tokens, over 153 million BNB are currently circulating in the market. As of the latest data, BNB is trading at $593 per token, giving it a market capitalization exceeding $91 billion. The token has experienced a bullish trend, with prices soaring from around $290 in January 2024 to a peak of $724 in June.

In 2023, the U.S. Department of Justice (DOJ) brought indictments against Zhao and Binance, accusing them of violating sanctions and engaging in money laundering activities. As part of a plea deal with U.S. prosecutors, CZ admitted guilt to violating the Bank Secrecy Act and agreed to resign from his CEO position. Richard Teng subsequently took over as CEO of Binance. The settlement included a $50 million fine for Zhao and a hefty $4.3 billion fine for Binance. Moreover, the DOJ appointed the Forensic Risk Alliance, an independent consulting firm, to monitor Binance's activities over the next three years.

On April 30, Zhao was sentenced to four months in prison by U.S. federal judge Richard Jones. This sentence was significantly less than the three years recommended by U.S. prosecutors, reflecting the severity of Zhao’s alleged involvement in sanctions violations and money laundering facilitation.

Despite these legal challenges, Binance and BNB have maintained robust performance in the market. The significant stake held by Zhao and Binance in BNB underscores their influence and control over the token’s future. The ongoing monitoring by the Forensic Risk Alliance aims to ensure compliance and transparency in Binance's operations moving forward.

This week's revelations about Zhao's vast holdings and legal outcomes provide a comprehensive view of the complexities and challenges faced by one of the most prominent figures in the cryptocurrency world. As the industry continues to evolve, the impact of these developments on Binance and the broader crypto ecosystem will be closely watched.