Changpeng Zhao Clarifies Cryptocurrency Holdings

Former Binance CEO Changpeng Zhao has clarified that he does not buy any new cryptocurrencies.

Zhao has reiterated that he only holds Bitcoin (BTC) and BNB, the native token of the Binance exchange. He mentioned that he purchased Bitcoin when it was trading at roughly $600.

CZ Yet to Buy Single Meme Coin

The meme coin culture is facing growing criticism following the $4 billion collapse of the controversial Libra (LIBRA) token, which ended up being a shameless rug pull. Zhao stated that he was not invested in the LIBRA token and has not bought any meme coins despite their popularity. Earlier this month, he revealed the name of his dog but stopped short of launching the dog’s official meme coin.

Looking for “Long-Term Impact”

Zhao emphasized that he is not “short-term opportunistic,” instead focusing on the long-term impact. He has no reason to chase short-term gains with dubious meme coins since he is considered the richest cryptocurrency mogul, with a personal net worth estimated at $64.3 billion by Forbes. The charismatic entrepreneur remains the largest shareholder of the Binance exchange but has been prohibited from running the trading giant again due to a plea deal with U.S. authorities. Following his release from prison, he has been mainly focused on educational efforts.