Binance's CEO Disputes Reported $28B Net Worth: "Numbers All Wrong"

On April 27th, Binance CEO Changpeng "CZ" Zhao took to Twitter to comment on Bloomberg's recent finance rich list.

Based on the screenshot included in Zhao's tweet, the man behind the crypto exchange Binance is the third wealthiest billionaire globally, with an estimated net worth of $28.2 billion.

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However, Zhao claimed that the list contained inaccurate information about his wealth.

In response to these claims, Binance's CEO noted:

Numbers all wrong. I don't have anywhere near as much. Don't know why they do this.

Starting his tweet with "4," Zhao linked the information provided by Bloomberg to his January 3rd tweet, urging the crypto community to "ignore FUD, fake news, attacks, etc."

The Binance CEO also clarified that he never considered the collapsed FTX cryptocurrency exchange as a competitor, stating, "We welcome more — well-run — exchanges in the space."

Under his tweet, Zorax Capital founder Zoran Kole asked Zhao about his wealth, claiming that he heard that Binance CEO is "one of the richest men on earth dwarfing Elon Musk and Vladimir Putin." However, Zhao responded to these claims by stating: 

No way. I am a small potato in a small (but growing) industry. Those guys are 100x bigger, or more.

CZ's recent tweet addressing reporting inaccuracies aligns with his critical view of mainstream media's portrayal of the crypto industry. He has repeatedly denied information from major sources like Bloomberg and Forbes, often labeling their reports as FUD, or fear, uncertainty, and doubt.

At the beginning of March, Zhao took to Twitter to deny claims that spread widely on the Chinese messaging platform WeChat claiming Zhao was shot by the Federal Bureau of Investigations (FBI).

CZ's ongoing battle against mainstream media inaccuracies underscores the need for accurate and fair reporting in the crypto industry.