In today's ever-changing financial world, every wealth giant may be overshadowed overnight. Bloomberg reported that the personal wealth of Chinese business tycoon Zhao Changpeng has suffered a major blow recently, shrinking by as much as $11.9 billion! What kind of changes are hidden behind this astonishing figure? Let us open a new chapter of the story together.

From currency security to declining trading volume, the challenges faced by Zhao Changpeng are not only numerical losses, but also the unveiling of a business chaos. Currency security has always been one of the most sensitive topics in the financial field, and Zhao Changpeng's wealth shrinkage is precisely caused by currency security issues. With digital transactions becoming more and more frequent today, currency security is particularly critical. The security measures that Zhao Changpeng's team once prided themselves on actually seemed powerless in this storm, which makes people feel sorry for it.

In addition, the issue of currency security has also directly led to a sharp drop in the trading volume of Zhao Changpeng's company. The once busy trading hall has now become deserted. This change is not only a gap in numbers, but also the collapse of the entire business empire. The decline in trading volume brings not only losses, but also a heavy blow to the company's reputation. How Zhao Changpeng can stay calm and regain his strength in such a predicament is worth our in-depth discussion.

At the same time, Zhao Changpeng's company is also facing an unprecedented wave of resignations. Executives choose to leave one after another, as if to warn, foreshadowing the turmoil within the company. Behind the resignation wave are employees' concerns about the company's prospects, doubts about the leadership's ability to deal with crises, and doubts about the future development direction. How to retain talent at this critical moment has become a pressing issue that Zhao Changpeng has put on the table.

However, crises are often accompanied by opportunities. Although Zhao Changpeng's shrinking wealth is shocking, it also gives him the opportunity to re-examine his business model, the way the team operates, and the company's development strategy. Perhaps this storm will allow Zhao Changpeng to regain the lost $12 billion, and it is more likely to allow him to find a more stable business path.

In the tide of the business world, Zhao Changpeng's experience may be just the tip of the iceberg. Behind every success, there are countless bitterness and ups and downs. In this storm, the tenacity and wisdom shown by Zhao Changpeng may become a role model for countless business elites. Let us look forward to how he will resolve the current crisis and create a brighter future!

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Coin Circle (120BTC.CoM) News: () Binance can be said to be facing severe regulatory challenges in 2023. First, in March, the U.S. Commodity Futures Trading Commission (CFTC) filed a civil lawsuit against Binance and its founder Zhao Changpeng (CZ), and in June it was heavily sued by the U.S. Securities and Exchange Commission (SEC), and then its business in European countries was constantly blocked.

 Zhao Changpeng's personal wealth has shrunk by US$11.9 billion 

Bloomberg reported on Friday (27th) that its Billionaires Index showed that according to data, the decline in trading volume this year has led to a 38% reduction in the exchange's revenue valuation, which has also reduced Zhao Changpeng's wealth by about US$11.9 billion to about US$17.2 billion.

Bloomberg explained that the data uses spot and derivative commodity trading data from crypto data websites Coingecko and Coinpaprika to calculate Binance's revenue.

According to data from research firm CCData, Binance once gained more than 62% of the entire crypto market share in the first quarter of this year through the "zero transaction" activities for popular trading pairs, but with the end of the activities, its share will also be reduced to 51% at the end of the third quarter.

In addition to the decline in Binance's global market share, the main reason for the sharp drop in overall exchange revenue may come from the obstruction of Binance US (Binance.US)'s business. Since being sued by the SEC in June, Binance US Exchange has announced that it will no longer trade in US dollars, and its trading volume has shrunk sharply, and the Bloomberg Wealth Index has also reduced its value to zero.

It is worth noting that Zhao Changpeng's net worth reached a peak of US$96 billion in January 2022. In other words, Zhao Changpeng's current personal wealth has shrunk by 82% compared to the peak, and Binance US was valued at US$4.7 billion in a round of financing in March of the same year.

The exodus of Binance executives continues to spread

On the other hand, Binance has not only seen a decline in trading volume, but has also recently experienced a large number of senior executives leaving the company. Several key executives in Binance have resigned, which has also caused the community to worry about whether their departure will really affect Binance's operations and compliance.

Following the resignation of Jonathan Farnell, head of the UK business, announced last week, this is the 12th senior executive to join the exodus since the exchange was sieged by regulators.