Changpeng Zhao loses $12 bn as Bloomberg slashes Binance revenue

Crypto billionaire and Binance Founder Changpeng Zhao's fortune fell by $11.9 billion after the Bloomberg Billionaires Index slashed its revenue estimate for the crypto exchange by 38%. The index slashed the estimate after data showed volumes at Binance declined this year. Bloomberg's wealth index had cut the value of Binance's US exchange to zero in June.