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Changpeng Zhao, often known as CZ, a Binance co-founder and its former chief executive officer, has made a public statement regarding Binance Coin (BNB) and a recent important development to do with it.
CZ also commented on a recently exposed dormant BNB whale who has made tens of millions of dollars by investing just $300 during the Binance ICO. Meanwhile, BNB has smashed a new all-time high price.
BNB overtakes Union Bank of Switzerland (UBS)
Zhao Changpeng commented on the news of Binance Coin (BNB) surpassing the world’s largest private bank, UBS, in terms of market capitalization value. CZ proudly retweeted that X post, adding his comment that it is time for banks to adopt BNB: “Banks need to adopt BNB.”
However, the cryptocurrency market is known for its volatility and price jumps. Currently, the market capitalization of Union Bank of Switzerland (UBS) stands at approximately $129 billion, while BNB’s constitutes $130.9 billion. But the latter is constantly changing, moving slightly higher or lower. Overall, the overtaking may be considered valid. Besides, recently, BNB reached several new all-time highs. The most recent one took place today, Sept. 13, and there were also two yesterday — together they pushed the coin's market cap up to surpass that of UBS.
BNB hits new ATH; CZ spotlights dormant BNB rich whale
Today, Sept. 13, BNB surged, having once again reached a new historic price peak. This time, it hit $940 per coin. The previous ATH was hit a day earlier, a dollar away from today’s record.
The BNB price has been surging this year, taking into account Bitcoin’s price increase, the overall surge in institutional interest in crypto and CZ’s active role as a crypto consultant for the governments of Pakistan and Kazakhstan. As the founder of Binance, he remains a major voice and influencer in the crypto space even though he does not formally spearhead Binance any longer.
As the new ATH was reached, CZ commented on a tweet that exposed the fortune of a dormant BNB whale. This guy invested just $300 in BNB back in 2017, the year when Binance launched through an ICO, selling BNB coins. The amount of BNB this whale holds now exceeds $25 million. That’s a staggering increase of 8,599,660%.
CZ commented with just two words on that, asking, “Which address?”
Dan Burgin
Vladislav Sopov
U.Today Editorial Team