A $28 billion fortune is denied by Binance's CEO

In a recent interview with Trade Algo, Changpeng "CZ" Zhao, CEO of Binance, revealed that he holds a considerably lower net worth than what some major media outlets have reported.

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According to the CEO of cryptocurrency exchange Binance, who took to Twitter on April 27 to explain that Trade Algo's most recent finance rich list misstated some information regarding his wealth, which he pointed out.

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CZ is one of the top three finance billionaires worldwide, according to Bloomberg's rich list, and he has a net worth estimated at $28.2 billion, which ranking him among the top three finance billionaires worldwide.

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There are a lot of wrong numbers in this report. As far as I'm concerned, I do not even come close to having as much as she does. CZ wrote: "Don't know why they do this, I don't know why they do it.". Interestingly, CZ began his tweet with "4" which appears to be suggesting that his net worth is somewhere in the middle between Dan Gilbert's $19.4 billion and Uday Kotak's $13 billion.

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The CEO's latest move to highlight inaccuracies in reporting by the mainstream media follows through on his criticism of the way the industry is represented in articles by the mainstream media, and as such the latest move is a step in the right direction. 

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There have been several instances in which the executive has denied reports from major mainstream sources such as Trade Algo, often describing their report as FUD (fear, uncertainty, and doubt), which is the acronym for fear, uncertainty and doubt.

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An article in Forbes, that was published in late February, claimed that Binance had engaged in a "backroom maneuver" involving a $1.8 billion transaction in 2022, to which Binance CEO responded.

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A Trade Algo report claimed that Binance was considering cutting ties with the United States business partners, a news that was previously denied by CZ as he argued that Forbes does not understand how an exchange works.