Changpeng Zhao recently seemed to ignore his number 4 rule of keeping it simple in 2023, and engaged FUD and fake news.
CZ reacts to FUD contrary to his rule
In a recent Twitter post, the Binance head commented on some “fake news and FUD,” ironically ignoring his number 4 rule on FUD. Zhao was reacting to a Bloomberg 2023 finance-rich list posted recently.
The Bloomberg post noted that Zhao’s net worth is at least $28.2 billion. Mr. Zhao commented, completely disagreeing with the estimate posted by Bloomberg. He said in part, “Numbers all wrong. I don’t have anywhere near as much.”
The Bloomberg report also insinuated that the Binance CEO was rivaling the FTX crypto exchange, to which the CEO disagreed. He mentioned that they welcome more properly run exchanges into the cryptocurrency landscape.
However, what stood out in the Binance CEO tweet was his use of the number 4 at the start of his tweet. This referenced his four rules of keeping it simple in 2023, the dos and don’ts.
The rules include education, compliance, product and services, and 4 “Ignore FUD, fake news, attacks, etc.”
However, in what seems to be an interesting disregard of his 4th rule, Changpeng Zhao failed to ignore the FUD and fake news. Instead, the Binance head reacted. This was surely an ironical disregard for his own words.
At the end of his tweet about four rules, the Binance head told the community to remember his use of the number 4. Under his tweet, many people responded with the number 4, indicating their understanding of the FUD.
Zhao’s wealth limbo
Based on reports, this is not the first time Zhao has disagreed with estimates of his wealth. Some news reports, including Forbes, Bloomberg, and The Guardian, have highly estimated Zhao’s net worth.
For instance, in mid-2022, Guardian alleged that Zhao’s network had dropped by over $75 billion to about $20.6 billion.
The Guardian quoted a Bloomberg Billionaires Index estimate which estimated Zhao’s wealth at $96 billion. Zhao denied the estimate, saying, “I actually have no idea how they come up with those numbers.”
Others estimated that Zhao’s network is about $200 billion, with some arguing that he might be challenging Elon Musk.