CZ Says His Real Wealth Is Around $10–30 Billion, External Valuations Are Clearly Inflated

Odaily News: In a recent interview, Changpeng Zhao (CZ) stated that external estimates of his net worth exceeding $114 billion are clearly inflated, and that his actual wealth is approximately $10 billion to $30 billion. He believes that wealth has diminishing marginal utility, noting that $10 million is already enough to support a comfortable daily life, and that beyond that amount, the improvement in personal quality of life is limited. CZ revealed that after first hearing about Bitcoin in Shanghai in 2013, he spent several months researching it, then sold a three-bedroom property and invested the entire $900,000 from the sale into Bitcoin. Regarding MGX's $2 billion investment in Binance, he said the deal valued Binance at $75 billion. He originally hoped to settle the transaction in Bitcoin, but the UAE investor preferred stablecoin payment due to concerns about price volatility. In response to claims that Binance designated USD1 for settlement, CZ denied this, saying the settlement currency was chosen independently by MGX. He also stated that as long as a stablecoin has a solid reputation and will not lose value in the short term, he does not pay much attention to the specific type. CZ is no longer involved in Binance's daily operations and management and serves only as a passive shareholder; Binance has withdrawn its previous lawsuit regarding related reports.