CZ denies $28 billion wealth

Changpeng Zhao (“CZ”), CEO of the prominent cryptocurrency exchange Binance, claims to have a much lower net worth than some mainstream media outlets have reported.

The CEO of Binance took to Twitter on April 27 to inform his followers that Bloomberg’s most recent wealthy list contains incorrect information about his wealth.

According to Bloomberg’s wealthy list, CZ is one of the top three finance billionaires in the world, with an estimated net worth of $28.2 billion.

“Numeric errors galore. I do not possess nearly as much.” I’m not sure why they would do this,” CZ wrote.

Also, he began his tweet with a “4”, implying t Koohat his wealth should fall somewhere between Dan Gilbert’s $19.4 billion and Uday Kotak’s $13 billion.

The CEO of Binance also stated that he never regarded the defunct FTX cryptocurrency exchange as a competitor. CZ added, “We welcome more well-managed exchanges in space.”

The most recent action by CZ to call attention to inaccurate reporting is consistent with the CEO’s critical view of how the industry is portrayed in mainstream media articles.

The executive has repeatedly refuted information from mainstream sources such as Bloomberg and Forbes, frequently referring to their reports as FUD, or fear, ambiguity, and doubt.

In late February, the CEO of Binance responded to a Forbes article that alleged the company engaged in a “backroom maneuver” involving a $1.8 billion transaction in 2022.

CZ argued that Forbes lacks knowledge of how an exchange operates. Previously, the CEO had refuted a Bloomberg report claiming that Binance was contemplating severing ties with its business associates in the United States.