Bitcoin and Binance tokens see a slight decline following CZ's release.

Binance founder Changpeng Zhao was released from custody on September 27. Following his release, Bitcoin's price was at $66,050.37, while Binance's BNB token traded at $612.44, both experiencing slight declines since the start of the trading day. A Forbes report from earlier in 2024 noted that Zhao held 64% of the total BNB supply, giving him an estimated net worth of $61 billion in June 2024, placing him as the 24th richest person globally. Concerns about the token's centralization arose due to Zhao's large holdings. At present, Zhao’s 94 million BNB tokens are valued at roughly $57 billion, down from their June 2024 value when the token price exceeded $700. An analysis by Gray Wolf Analytics and Forbes in 2024 also revealed that 80 million BNB tokens were originally allocated to Binance’s founding team, with the company retaining approximately 46 million of these tokens.