Binance CEO Denies Bloomberg's Net Worth Report

blockchain.news:

Changpeng «CZ» Zhao, the CEO of Binance, one of the world's biggest cryptocurrency exchanges, has refuted the net worth stated by Bloomberg in its financial rich list. Bloomberg included Zhao on its list of the world's richest people in finance. With an estimated wealth of $28.2 billion, CZ is positioned among the top three financial billionaires in the world, as shown by the ranking. On the other hand, CZ said on Twitter on April 27 that the statistics are all incorrect and that he does not have anywhere near as much money as what is supposed to have been the case for him, notwithstanding what was previously stated.

CZ began his tweet with the number 4, meaning that his worth should fall somewhere between Dan Gilbert's $19.4 billion and Uday Kotak's $13 billion. Uday Kotak is the richest person in India. It should not come as a surprise that CZ would take the initiative to call attention to the falsehoods that have been reported, given that he has been critical of the way that the cryptocurrency business is portrayed by mainstream media sites. He has made a number of denials about the information that was provided by authoritative sources such as Bloomberg and Forbes, often labeling such stories as FUD, which stands for fear, uncertainty, and doubt.

CZ's critical position on the industry's depiction in mainstream media was clear in his reaction to a story published by Forbes, which said that Binance had proceeded with a «backroom maneuver» involving a $1.8 billion transaction in 2022. The article claimed that Binance had done this in order to circumvent regulatory oversight. It was his contention that Forbes «don't know how an exchange works.» In a similar manner, he disproved a story from Bloomberg that said