Changpeng Zhao, popularly known as "CZ", the CEO of the worlds largest crypto exchange, Binance, has disputed the claim that he is the third richest man in finance.

What Happened: According to Bloombergs list, CZ has a net worth of $28.2 billion. However, CZ himself dismissed these figures in a tweet on Thursday by writing Numbers all wrong. I dont have anywhere near as much. Dont know why they do this.

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Numbers all wrong. I don’t have anywhere near as much. Don’t know why they do this. ????

Also, never viewed FTX as a rival. We welcome more (well run) exchanges in the space. pic.twitter.com/xfa31RZp7t CZ ? Binance (@cz_binance) April 27, 2023

CZ also sought to clarify his views on rival exchanges. The CEO of Binance went on to state that he does not view FTX as competition, though he does welcome more well-run exchanges in the space.

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Why It Matters: According to Bloombergs report, CZ is a Chinese-born entrepreneur who was raised in Canada. Prior to his founding of Binance, CZ worked on trading systems. The article also noted that Binance reportedly boasts annual revenue that exceeds $12 billion, a figure that has not been confirmed by the company.

One Twitter user, Zoran Kole, responded to CZs tweet. He said, CZ, I have the utmost respect for youI heard that you are actually one of the richest men on earth dwarfing Elon Musk and Vladimir Putin.

No way. I am a small potato in a small (but growing) industry. Those guys are 100x bigger, or more. CZ ? Binance (@cz_binance) April 27, 2023

However, CZ once again disputed the notion that he is among the wealthiest people on the planet. In his response to Kole, CZ wrote, No way. I am a small potato in a small (but growing) industry. Those guys are 100x bigger, or more.

Binance was founded in China in 2017 but later moved its headquarters to Malta due to regulatory issues in its home country. It allows users to trade various cryptocurrencies such asBitcoinBTC/USD andEthereumETH/USD and offers a range of other services such as staking, lending, and margin trading.

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