Binance CEO Changpeng Zhao ‘CZ’ calls Bloomberg Rich List entry fake news Samuel Wan · 7 hours ago · 2 min read CZ said his personal fortune is much less than Bloomberg’s purported $28.2 billion figure — denoting it as fake news.2 min read Updated: April 27, 2023 at 1:10 pm Cover art/illustration via CryptoSlate Binance CEO Changpeng Zhao (CZ) responded “4” to his recent Bloomberg rich list entry.CZ added that the numbers were all wrong.He also corrected the supporting text, saying he never viewed the now-defunct FTX exchange as a rival.
“4” signifies ignoring fear, uncertainty, doubt (FUD,) fake news, and attacks — as set out in a January tweet in response to a period of sustained criticism, particularly over rumors of insolvency.“In the future, would appreciate if you can link to this post when I tweet “4”.“ CZ ranks third on Bloomberg Rich List Bloomberg published its Finance Rich List on April 25, giving a rundown of the top 26 money moguls ranked by their purported wealth.
Ranked first is Citadel’s Ken Griffin at $35 billion, followed by Jeff Yass of trading firm Susquehanna International Group — said to be worth $33.1 billion.CZ came third on the list with a $28.2 billion valuation.Giving a summary of his journey to becoming CEO of the world’s largest crypto exchange, Bloomberg stated Binance has an annual turnover of more than $12 billion.
It also included details of increased regulatory scrutiny following the collapse of “rival exchange FTX” — subsequently being sued by the U.S.Commodity Futures Trading Commission (CFTC) over charges of operating an illegal exchange.The numbers are all wrong In his response to the Rich List entry, CZ began by denoting it as fake news.He clarified that the reported $28.2 billion valuation is inaccurate, saying his actual worth is much lower.
Additionally, the Binance CEO expressed concerns over the motives behind inflating the number.“Numbers all wrong.I don’t have anywhere near as much.Don’t know why they do this.“ A commenter implied that the Bloomberg valuation is understated and that CZ is among the wealthiest in the world alongside “Elon Musk and Vladimir Putin.” Downplaying the comment, CZ humbly said he is a “small potato” in a burgeoning industry and not in the same league as those mentioned.“No way.I am a small potato in a small (but growing) industry.Those guys are 100x bigger, or more.“ Latest CZ Stories Leave a Reply [Cancel reply](/people/binance-ceo-changpeng-zhao-cz-calls-bloomberg-rich-list-entry-fake-news/#respond) Leave a Reply Culture Hedge fund billionaire Ray Dalio doesn’t ‘think a lot of Bitcoin’ but still holds ‘a little bit’ Hedge fund billionaire Ray Dalio doesn’t ‘think a lot of Bitcoin’ but still holds ‘a little bit’ Samuel Wan · 9 hours ago · 2 min read Ray Dalio agrees crypto investing can negatively impact mental well being.
2 min read Updated: April 27, 2023 at 2:03 am Cover art/illustration via CryptoSlate American investor Ray Dalio said he holds a little Bitcoin (BTC) but is not a fan – instead, preferring gold.Not a fan of Bitcoin Sharing his thoughts with former model turned Podcaster Chris Williamson, Dalio said while he prefers gold, Bitcoin still offers things the metal cannot, such as transaction tracking and “not being liked by the government.” At the same time, he questioned why Bitcoin, with a smaller market cap than Microsoft, gets more attention – conceding, “Who knows, maybe there’s some element of it I don’t understand.” “Its size is about 30% of the size of Microsoft, and Microsoft is one stock among many stocks.[But] it’s given a lot more attention.” Explaining his preference for gold over Bitcoin, the famed investor said behind dollars and euros, gold is the third highest reserve asset among central banks – adding that the yellow metal is timeless and universal.Dalio, who is a billionaire and founder of the hedge fund Bridgewater Associates, stated that he does hold “a little bit” of Bitcoin.But given its extreme volatility, he intentionally keeps his BTC allocation low to limit downside exposure.Espousing a prudent investment strategy, Dalio said, “I don’t think a lot of Bitcoin.” Sanity-sapping? Williamson offered his take by saying being a crypto investor comes at the expense of mental well-being.He interpreted Dalio’s preference for gold as a bias toward “less sanity-sapping forms of investment.” “There is a price that you pay because of the volatility.
But the price that you pay is with your own sanity.” Dalio agreed with the assessment, saying he has seen people get very rich with crypto, but at the same time, also some who became broke because of it.Honing in on mental health, Dalio was asked about ways to cope with the unpredictable world we live in.
The famed investor pointed out that typically in depressions and war, most people remain employed and alive/uninjured – calling on people to keep things in perspective.He also recommended people be in places of goodness, harmony, and beauty, such as being in nature.When pressed on the inability to disconnect from the chaos and constant bad news – particularly negative financial news, Dalio maintained that disconnecting in nature and turning off the TV helps – adding that friends and family are much more important than money.What is CryptoSlate Alpha? A web3 membership designed to empower you with cutting-edge insights and knowledge.Learn more › Connect via Access Protocol Access Protocol is a web3 monetization paywall.
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People Bitcoin creator mystery continues: Dorian Nakamoto speaksout, unveils government contracting past Bitcoin creator mystery continues: Dorian Nakamoto speaksout, unveils government contracting past Samuel Wan · 1 min ago · 2 min read Dorian Nakamoto is seeking to clear his name — denying any involvement in the development of Bitcoin (BTC).2 min read Updated: April 24, 2023 at 10:24 am Cover art/illustration via CryptoSlate Dorian Nakamoto denied involvement with Bitcoin’s development.In a video shared by @CryptoNewsYes, Dorian Nakamoto clarified that he had nothing to do with building Bitcoin (BTC) — stating that he was “just an engineer doing something else.” “The main reason I’m here is to clear my name; that I have nothing to do with Bitcoin, nothing to do with developing.” Furthermore, he revealed that during the early development of Bitcoin in 2001, he was working as a government contractor — he did not state the nature of this role.When presented with copies of messages — presumably from the Bitcointalk.org forum in which Satoshi Nakamoto communicated development progress — Dorian Nakamoto said, “I never communicated with Bitcoins” — adding that in 2010, when the messages were dated from, “I was at home.” Satoshi Nakamoto mystery The identity of Bitcoin creator Satoshi Nakamoto is shrouded in mystery.The Bitcoin community has put forward several likely candidates, including the late Hal Finney – a cryptographer who was extensively involved in the development of Bitcoin.Finney was the first recipient of a BTC transfer, and some speculate that he sent those first Bitcoins to himself.Programmer Nick Szabo is another popular choice.Szabo had already developed a decentralized, proof-of-work virtual currency called “Bit gold,” publishing its paper in 1998 — more than a decade before Bitcoin rolled out.
More recently, with the discovery of the Bitcoin whitepaper embedded in every Mac operating system from Catalina onwards, there has been renewed speculation connecting Steve Jobs to Satoshi Nakamoto.However, the individual or group that created Bitcoin is widely considered technically competent at coding and cryptography — which Jobs was not.Apple co-founder Steven Wozniak said Jobs never coded but was proficient enough at it “to alter and change and add to other designs” occasionally.Wozniak describes Jobs more as a visionary.“Steve didn’t ever code.He wasn’t an engineer and he didn’t do any original design.” Dorian Nakamoto Public information on Dorian Nakamoto described him as an American-Japanese physicist who had adopted libertarian views after being fired from jobs multiple times.
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