CZ's net worth surges to $87.3B as BNB hits new all-time high

The net worth of Binance founder Changpeng Zhao (CZ) has surged to $87.3 billion amid a rally that has pushed BNB to a new all-time high, Watcher.Guru reported on Oct. 6. The increase makes Zhao the 21st-richest person in the world. According to an analysis by the publication, the recent surge is not sudden, as BNB has shown strength for several months. Watcher.Guru suggested the rally could be attributed to a surge in activity on the Binance Smart Chain (BSC) and the growing adoption of the BNB Chain. Other contributing factors may include the growth of DeFi applications and NFTs, an increase in daily users, higher BNB fee payments, and token burns. The publication also noted that the rally is likely to continue in the short term amid the growing possibility of further interest rate cuts by the U.S. Federal Reserve.