Binance CEO Changpeng Zhao has denied having a personal fortune of $28 billion, following his ranking on Bloomberg’s Newly Rich in Finance list. He also said he does not see FTX as a rival, as reported by Bloomberg.
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Changpeng Zhao denies holding $28 billion
A new ranking established by Bloomberg simply titled “The New Riches of Finance” did not please Changpeng Zhao. Indeed, the CEO of Binance, the world’s largest cryptocurrency exchange by daily trading volume, is credited with a personal fortune of $28 billion.
So, Changpeng Zhao appears in 3rd place out of a total of 26 individuals evolving in the financial sector, behind Ken Griffin and his Citadel fund, then Jeff Yass, the founder of the trading company Susquehanna International Group.
The person formally denied the facts on Twitterindicating that he did not hold such a sum.
4
Numbers all wrong. I don’t have anywhere near as much. Don’t know why they do this. 🤷♂️
Also, never viewed FTX as a rival. We welcome more (well run) exchanges in the space. pic.twitter.com/xfa31RZp7t
— CZ 🔶 Binance (@cz_binance) April 27, 2023
« 4 [Le symbole de CZ signifiant qu’il ne faut pas écouter les rumeurs, NDLR] The numbers are wrong. I don’t have that many. I don’t know why they do this. Besides, I never considered FTX as a rival. We welcome other (well run) exchanges in this space. »
According to Bloomberg’s presentation, Binance would generate, according to recent figures, over $12 billion in annual profits. Furthermore, the financial reporting group does refer to ” the rival exchange FTX “, a qualifier that Changpeng Zhao does not seem to agree.
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Changpeng Zhao, enemy of mainstream media
Binance’s CEO is unfortunately used to this kind of ranking and risky information. Indeed, last July, CZ had filed a complaint against Bloomberg because of ” false, malicious and defamatory statements » about him, the title of the article in question was titled « Changpeng Zhao’s Ponzi Scheme “.
Going back further, the Bloomberg Bilionaires Index put the net worth of CZ’s fortune at $96 billion in January 2022. A few months later, Forbes media estimated around 65 billion dollars. A difference which, moreover, seems to prove that the calculation methodologies tend to vary significantly.
Following his recent response to Bloomberg, someone publicly asked Binance’s CEO on Twitter if he was “ one of the richest men on the planet “, at point ” overtake Elon Musk and Vladimir Putin “, which would be a good thing to advance the industry, according to him.
To this, Changpeng Zhao simply replied:
” It is not so. I’m a small potato in a small (but growing) industry. These people are 100 times bigger, if not more. »
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Source: Bloomberg
Image source: Web Summit via Flickr (CC BY 2.0)
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Maximilien Prue
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