Zhao Changpeng Claims Real Assets Range from $10 Billion to $30 Billion, External Valuation is Overstated

In an exclusive interview, Zhao Changpeng stated that the external estimate of his net worth exceeding $114 billion is clearly overstated, with his real asset scale being around $10 billion to $30 billion. He believes that wealth has diminishing marginal utility, and that $10 million is sufficient to support a comfortable daily life, with limited improvement in quality of life beyond that amount. Zhao revealed that after first hearing about Bitcoin in Shanghai in 2013, he sold a three-bedroom property after several months of research and invested the entire $900,000 from the sale into Bitcoin. Regarding the $2 billion investment transaction from MGX into Binance, he stated that this transaction raised Binance's valuation to $75 billion, and he originally hoped to settle in Bitcoin, but the UAE investors preferred to use stablecoins due to the risk of price fluctuations. Zhao denied the claim that Binance designated USD1 for settlement, stating that the settlement currency was chosen autonomously by MGX. He mentioned that as long as the stablecoin has a good reputation and will not lose value in the short term, he would not pay too much attention to the specific type. Zhao is no longer involved in the daily operations and management of Binance, serving only as a passive shareholder; Binance has previously withdrawn the lawsuit related to the relevant reports.

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