Binance CEO’s Net Worth Estimated At $28B: Bloomberg – April 27

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Current Bitcoin Price$29,099

Bitcoin price has had a turbulent 24 hours of action, as price plummeted to the $27,000s yesterday, before bouncing straight back to the $29,000 range.

Top-20 altcoins are down for the day, as Ethereum falls 3%, BNB also drops 3% and Cosmos was the outlier with a small 1% gain.

Top Stories for April 27, 2022 🔥

👉 Binance CEO’s Net Worth Estimated At $28B: Bloomberg

Bloomberg has estimated the net worth of Binance CEO Changpeng Zhao at $28.2 billion – a figure which Zhao has quickly denied, saying the “numbers all wrong.”

This is not the first time Zhao has challenged estimates of his wealth. There have been several estimates of Zhao’s wealth over the years, with some industry analysts once even estimating his net worth to be $200 billion.

Binance and Zhao were notably sued by the US Commodity Futures Trading Commission last month for allegedly operating an “illegal” exchange and a “sham” compliance program.

👉 Kraken Fights Back In Court Against IRS Demanding Customer Information

Crypto exchange Kraken is seeking federal court intervention in response to the US Internal Revenue Service’s (IRS) demand for user information, citing Coinbase’s 2017 case as an example of the IRS going too far beyond its intrusive summons.

The IRS had demanded additional user information from Kraken in February relating to any user who made at least $20,000 in crypto trades in any single year between 2016 and 2020.

Kraken’s request asks the court to back off the demand, calling it an “unjustified treasure hunt” by the IRS.

👉 Google Cloud Partners With Polygon To Assist Its Web3 Ecosystem

Google Cloud is partnering with Polygon Labs to bring its Blockchain Node Engine to the Ethereum-based layer 2 blockchain.

The move is aimed at helping developers build, launch and grow their Web3 products and decentralized applications on the Polygon ecosystem. The partnership will increase transaction throughput, paving the way for more businesses to embrace blockchain technology.

Additionally, the collaboration will help Polygon advance its zero-knowledge innovation strategy, potentially making transactions cheaper and faster.