CZ Binance Denies $300B Wealth Estimate, Calls It “Way Too Off”

Changpeng Zhao (CZ), the co-founder of the largest crypto exchange Binance, has refuted claims that the crypto custodian firm has a valuation of up to $300 billion. According to him, such an amount is “way too off.”

The wealth estimates are probably off (way too much), but thanks for the story. Just the beginning.

— CZ 🔶 BNB (@cz_binance) September 10, 2025

CZ’s comment was in response to an X thread from CryptoJargon, an Indian crypto handle managed by crypto enthusiast Neel Kukreti. The X thread shared insights into CZ’s background and how he emerged as one of the most prominent crypto billionaires. The post also pinpointed some hurdles the Binance co-founder faced along the way.

CZ’s Background

The X thread stated that CZ grew up poor. After moving from their home in China to Canada, his father took a job as a dishwasher, while CZ worked at the fast food chain McDonald’s. Zhao also worked in places like gas stations to support his family financially.

During the early days of crypto, he held C-level roles in blockchain-focused firms such as Blockchain.info and OKCoin.

Fast-forward to 2017, CZ launched Binance exchange after becoming a renowned developer. Although other crypto exchanges existed before its launch, Binance won the hearts of the crypto community due to its diverse range of products and services. For instance, features like Binance Earn, Binance Pay, and futures and options trading. Binance also onboarded numerous crypto assets, making it a go-to place for those seeking exposure to trending digital assets.

Another product that attracted users to Binance was the BNB cryptocurrency and its accompanying Binance Smart Chain (BSC), founded in 2020. Two years later, the BSC network rebranded into BNB Chain. Over the years, Binance has emerged as the leading crypto exchange by traded volume and user base. The layer-1 BNB Chain also ranks as one of the leading blockchain networks, while BNB sits as the fifth-largest crypto by market capitalization.

In 2023, Binance’s regulatory scrutiny heightened, forcing Zhao to step down as CEO. Following his four-month incarceration, CZ founded Giggle Academy, an educational institute.

Binance is Not Valued at $300B

According to CryptoJargon, CZ’s net worth rose to $64 billion, a figure that the Binance co-founder disputes is incorrect.

On the other hand, he discarded popular opinion among crypto users that Binance is valued at $300 billion. This means that the leading crypto exchange is valued at a lesser undisclosed amount.