Binance CEO denies $28B wealth: ‘I don’t have anywhere near as much’

Changpeng “CZ” Zhao, CEO of major cryptocurrency exchange Binance, claims to hold a method less net worth than reported by some mainstream media.Binance CEO required to Twitter on April 27 to inform its fans that Bloombergs latest financing abundant list has some unreliable information concerning his wealth.According to Bloombergs abundant list, CZ is expected to be ranked in the leading 3 financing billionaires worldwide, holding a net worth approximated at $28.2 billion.” Numbers all incorrect. I do not have anywhere near as much. Dont understand why they do this,” CZ wrote. He also started his tweet with “4,” obviously suggesting that his wealth should be somewhere between Dan Gilberts $19.4 billion and Uday Kotaks $13 billion.Source: TwitterBinance CEO also discussed that he has actually never seen the collapsed FTX cryptocurrency exchange as a competitor. “We invite more– well-run– exchanges in the area,” CZ added.Related: Arkham rejects buggy Mt. Gox notifies to blame for 7% Bitcoin rate crashCZs most current transfer to highlight reporting errors can be found in line with the CEOs vital position on the method how the industry is represented in short articles by mainstream media. The executive has consistently denied information from major mainstream sources like Bloomberg and Forbes, frequently characterizing their reports as FUD, or unpredictability, worry and doubt.in late February, Binance CEO responded to a short article by Forbes declaring that Binance continued with a “backroom maneuver” including a $1.8 billion deal in 2022. CZ argued that Forbes “dont know how an exchange works.” Formerly, the CEO likewise rejected a Bloomberg report declaring that Binance was considering cutting ties with the United States organization partners.Magazine: Crypto Twitter Hall of Flame, Gabriel Haines: Shirtless shitposting and searching SBF on the meme streets

Other Questions People Ask

What did Binance CEO say about his reported $28B wealth?

Binance CEO Changpeng "CZ" Zhao publicly denied claims that his net worth is $28.2 billion, stating that the figures reported by Bloomberg are inaccurate. In a tweet, he expressed confusion over why such inflated numbers are circulated, emphasizing that he does not possess anywhere near that amount. CZ suggested that his actual wealth is likely between $19.4 billion and $13 billion, based on his comments.

How does Binance CEO view the competition in the cryptocurrency market?

Changpeng Zhao has indicated that he does not see the collapsed FTX exchange as a competitor, highlighting a more welcoming stance towards well-managed exchanges in the cryptocurrency space. He believes that more exchanges can contribute positively to the industry, rather than viewing them as threats. This perspective aligns with his broader vision of fostering a healthy and competitive market environment.

What has Binance CEO said about media reporting on his wealth?

CZ has been vocal about his dissatisfaction with how mainstream media reports on his wealth and the cryptocurrency industry. He has labeled many reports from outlets like Bloomberg and Forbes as FUD—fear, uncertainty, and doubt—suggesting they often misrepresent facts. His recent comments aim to correct what he sees as misleading information regarding his financial status.

Why did Binance CEO respond to Bloomberg's wealth list?

The response from Binance CEO Changpeng Zhao was prompted by Bloomberg's inaccurate portrayal of his net worth, which placed him among the top billionaires globally. By addressing this issue directly on Twitter, CZ aimed to clarify misconceptions and assert that the reported figures were exaggerated. His proactive approach reflects his commitment to transparency in an industry often plagued by misinformation.

What previous claims has Binance CEO disputed regarding media reports?

In addition to denying the inflated wealth estimates, CZ has previously refuted claims made by Forbes about Binance's financial maneuvers and other operational aspects. He criticized Forbes for lacking understanding of how cryptocurrency exchanges function, indicating a pattern of challenging narratives that he believes misrepresent Binance. This ongoing dialogue underscores his dedication to setting the record straight in the face of misleading journalism.