- Binance CEO Changpeng Zhao has denied a Bloomberg report claiming his web value is over $28 billion.
- Zhao stated the numbers within the report are flawed and he does not have that a lot wealth.
- The CEO additionally took challenge with the report’s description of his alternate’s buying and selling actions.
Binance CEO Changpeng Zhao has denied a latest Bloomberg report, which claimed his web value exceeded $28 billion. Bloomberg’s Wealthy Record, which was launched earlier this week, named the Binance chief because the third-richest individual in finance with a reported web value of $28.2 billion.
Changpeng Zhao took to Twitter earlier as we speak to handle the difficulty and clarified that his wealth fell far wanting what the report claimed. Binance CEO tweeted “4”, which is commonly utilized by him to flag sure reviews as pretend. “The numbers are all flawed. I haven’t got that many. I do not know why they’re doing this,” Zhao added.
Zhao additionally took challenge with the report’s characterization of FTX as a “rival alternate.” He revealed that he by no means thought of FTX a rival. In accordance with him, well-run crypto exchanges are welcome within the crypto house. Responding to a Twitter consumer who claimed Zhao was richer than Elon Musk and Vladimir Putin, the Binance chief stated he was “a small potato in a small (however rising) trade.
The report additional claimed that, primarily based on Bloomberg estimates as of April 5, 2023, Binance had earned over $12 billion in annual income. Zhao didn’t reply to this declare. Changpeng Zhao has lengthy been one of many richest individuals in crypto. He was beforehand joined by the likes of FTX founder Sam Bankman-Fried within the billionaires membership earlier than his alternate collapsed in November final yr.
Together with spotlighting Zhao’s wealth, the report highlighted his authorized troubles, the newest being the lawsuit filed towards him by the US Commodities and Futures Buying and selling Fee (CFTC) for allegedly serving to shoppers escape commerce restrictions.