Just-In: Binance CEO “CZ” Reacts To Bloomberg’s Data On His Wealth and FTX

Binance CEO Changpeng “CZ” Zhao has denied Bloomberg data on his wealth, claiming the numbers are wrong and his net worth isn’t even near to the data revealed in Bloomberg’s new rich list.

While Binance does not publish any annual financial disclosure on its revenues and CZ’s stake, Bloomberg estimated that CZ is worth $28.2 billion and ranked him 3rd in the top 25 rich list. Meanwhile, Forbes rich list estimates that CZ is worth $10.5 billion.

Binance CEO Denies Worth Estimated by Bloomberg

Binance CEO CZ took to Twitter on April 27 denying Bloomberg’s data on his net worth and FTX rivalry. He said the numbers, including his wealth and the crypto exchange’s annual revenue, are “all wrong.” Further, he claims that FTX was never seen as a rival, saying “We welcome more (well run) exchanges in the space.”

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

Also, never viewed FTX as a rival. We welcome more (well run) exchanges in the space. pic.twitter.com/xfa31RZp7t

— CZ 🔶 Binance (@cz_binance) April 27, 2023

Bloomberg in the “New Finance Rich List” ranked Binance CEO “CZ” third, followed by Citadel CEO Ken Griffin and trader Jeffrey Yassa among the 25 financial leaders. Bloomberg estimated “CZ” net worth at $28.2 billion and Binance’s annual revenue at around $12 billion. The list is led by computer-driven trading companies.

Notably, Binance does not publish its financial data and stake Binance CEO “CZ” own in the crypto exchange. The US Commodity Futures Trading Commission (CFTC) sued Binance and its CEO CZ on allegations of helping customers hide their locations to evade trading restrictions, failing to implement effective compliance policies, and violating derivatives regulations.

Also Read: US House Investigating Potential Operation Choke Point 2.0 To De-Bank Crypto