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- Binance CEO Changpeng Zhao has denied a Bloomberg report which claimed his web value is over $28 billion.
- Zhao said that the report’s numbers are incorrect and that he doesn’t have wherever close to as a lot wealth.
- The CEO additionally took subject with the report’s description of his alternate’s enterprise actions.
Binance CEO Changpeng Zhao has denied a latest report from Bloomberg, which claimed that his web value exceeded $28 billion. Bloomberg’s Wealthy Listing, which was launched earlier this week, named the Binance Chief because the third richest particular person in Finance with a supposed web value of a whopping $28.2 billion.
Changpeng Zhao took to Twitter earlier at the moment to handle the matter and clarified that his wealth was nowhere near what was purported by the report. The Binance CEO tweeted “4”, which is commonly utilized by him to flag sure stories as false. “Numbers all incorrect. I don’t have wherever close to as a lot. Don’t know why they do that,” Zhao added.
Zhao additionally took subject with the report’s characterization of FTX as a “rival alternate”. He revealed that he by no means seen FTX as a rival. In keeping with him, effectively run crypto exchanges are welcome within the crypto area. Responding to a Twitter consumer who claimed that Zhao was richer than Elon Musk and Vladimir Putin, the Binance Chief said that he was “a small potato in a small (however rising) trade.
The report additional claimed that based mostly on Bloomberg’s estimations on April 5, 2023, Binance raked in an annual income of greater than $12 billion. Zhao didn’t reply to this declare. Changpeng Zhao has lengthy been one of many wealthiest people in crypto. He was beforehand accompanied by the likes of FTX founder Sam Bankman-Fried within the billionaire membership earlier than his alternate collapsed in November final yr.
Aside from the highlight on Zhao’s wealth, the report highlighted his authorized troubles, the newest being the lawsuit filed in opposition to him by the U.S Commodities and Futures Buying and selling Fee (CFTC) for allegedly serving to purchasers evade buying and selling restrictions.