The net worth of Coinbase CEO Brian Armstrong and Binance CEO Changpeng Zhao have suffered losses of 11.8% and 5.1% respectively following lawsuits by the SEC. Zhao’s net worth fell by $1.33 billion within 30 hours of the SEC suing Binance on June 5, while Armstrong’s net worth was slashed by $289 million after the SEC sued Coinbase on June 6. Despite the recent fall, both CEOs have seen net worth increases well above the 9% year-to-date returns for others on Bloomberg’s rich list.
– The net worths of Coinbase CEO Brian Armstrong and Binance CEO Changpeng Zhao have suffered heavy blows due to recent lawsuits by the United States securities regulator.
– Armstrong’s net worth was slashed by $289 million and Zhao’s by $1.33 billion within a span of 30 hours after the Securities Exchange Commission (SEC) sued Binance on June 5 and then Coinbase on June 6.
– Despite the recent fall, both CEOs have seen net worth increases well above the 9% year-to-date returns for others on Bloomberg’s rich list.