Changpeng Zhao, better known as CZ, the head honcho of Binance, recently decided it was time for a little bit of truth-telling after the mainstream media painted a pretty imposing picture of his wealth. On April 27, CZ took to Twitter to challenge Bloomberg’s rich list, which claimed he was worth a staggering $28.2 billion, placing him among the top three finance billionaires globally. But CZ, ever the iconoclast, declared,
“Numbers all wrong. I don’t have anywhere near as much. Don’t know why they do this.”
The Real CZ: A Billionaire’s True Worth?
In a twist worthy of a soap opera plot, CZ hinted that his net worth might actually fall somewhere between Dan Gilbert’s $19.4 billion and Uday Kotak’s $13 billion. Now, that’s a lucrative gap, but not quite the legendary status that some headlines would imply.
Rivalry? No Thanks!
Moreover, CZ made it clear that he doesn’t see the defunct FTX exchange as a competitor. In fact, he invited a wealth of well-run exchanges into the cryptocurrency ecosystem, stating,
“We welcome more — well-run — exchanges in the space.”
A noble sentiment that rekindles hope in the chaotic world of crypto exchanges!
Media Misrepresentations: A Continuous Struggle
This latest pushback against inaccurate reporting aligns with CZ’s ongoing battle with how mainstream media presents cryptocurrency and its key players. More often than not, he’s found himself at odds with the likes of Bloomberg and Forbes, labeling their content as FUD — fear, uncertainty, and doubt.
A Clash with Forbes: The $1.8 Billion Debate
The skirmishes didn’t stop there. Earlier this year, Forbes ran a piece insinuating that Binance made a shady $1.8 billion financial move in 2022. CZ was quick to call out the publication, asserting they didn’t understand how an exchange operates. And honestly, who doesn’t love an underdog rising against the journalism giants?
Conclusion: The Battle for Accurate Representation
As CZ continues to navigate the turbulent waters of cryptocurrency, one thing is clear: he’s not just about building Binance but also about making sure the narrative surrounding him and the industry is as accurate as possible. As the crypto landscape grows, one can only hope that the media might find a way to keep pace — accurately, of course!
