04-27-2023 icon

Binance’s CZ Zhao Refutes Claims of $28B Net Worth

By Lucy Adegbe

Changpeng “CZ ” Zhao, the owner of prominent digital currency trading platform Binance, declares that he owns way less wealth than alleged by a known publication outlet. 

The platform’s chair uploaded a tweet, on Thursday, informing his followers that Bloomberg’s recent finance net worth record portrays some wrong data concerning his net worth.

As earlier published by Bloomberg, CZ ought to be one of the three richest finance billionaires globally, with an aggregated monetary worth of $28.2 billion.

“Numbers all wrong. I don’t have anywhere near as much. Don’t know why they do this,” CZ noted. In addition, he tweeted “4,” inferring that his net worth hangs around Dan Gilbert’s $19.4 billion and Uday Kotak’s 13 billion.

The protocol’s chair further clarified that he never saw the currently defunct FTX trading platform as a contender as the market is wide enough to accommodate many more crypto trading platforms.

CZ’s recent action to spot errors in publications follows the protocol chair’s view on how the crypto space is portrayed by mainstream publication outlets.

The CEO has continuously refuted news from main publication sources such as Bloomberg, and Forbes, frequently identifying their publications as fear, uncertainty, and doubts.

CZ had formerly refuted allegations reported by Bloomberg that his trading platform was planning to permanently end its business relationship with its US allies.