Zhao Changpeng denied Forbes's logic in estimating his net worth, emphasizing that he has never shorted his stock or attempted to "suppress prices."
PANews reported on March 12 that Binance founder Changpeng Zhao responded again to Forbes' previous valuation of his net worth at $110 billion in an article published on the X platform. Zhao stated that as a shareholder, he welcomes an increase in Binance's valuation, but the reality is that Binance's valuation cannot rise when crypto prices fall. As the largest crypto exchange, Binance's fortunes rise and fall with the industry; a crypto winter means reduced trading volume, and lower prices lead to decreased transaction fee revenue. For this obvious reason, Binance and he himself have always hoped for industry growth and higher prices for mainstream crypto assets. He stated that he has never shorted or attempted to "suppress prices," and even after stepping down from managing Binance, he continues to promote cryptocurrencies to governments in many countries.
Changpeng Zhao stated that while he appreciates Forbes' high praise of Binance, he believes it lacks logic to extrapolate his net worth increase based on Binance's recent valuation growth. He concluded by pointing out that beyond a certain threshold, more wealth does not necessarily bring more happiness; there are more meaningful things in life, such as health, family, and making a positive impact.
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