A 93% drop in value within a year? Changpeng Zhao responded

“Forbes” recently listed the “Crypto Rich 2022 Assets Shrinking Ranking List”, showing that the 17 richest investors and founders in the cryptocurrency field will lose a total of about US$116 billion in personal wealth in 2022, of which Zhao Changpeng’s net assets have increased compared to March. It fell 93.07%, shrinking to 4.5 billion US dollars, after March “Forbes” showed that Zhao Changpeng’s net worth was 65 billion US dollars. Binance founder Zhao Changpengjin responded to this. He believed that “Forbes” overestimated the value of encrypted assets in March, ignored the loss, and they still overestimated the current net worth. At the same time, Changpeng Zhao emphasized that the ranking is based on “estimates” or out of “opinions.” “If you don’t suffer a large loss, you can’t be called an insider in the encryption industry.” Zhao Changpeng said. | Related reading (Interface News)

He Weihang

After reading this news, I can’t help but think of the time when it was rumored that Changpeng Zhao became the richest man in the Chinese. At that time, the source of the news was doubtful, and the estimation of Changpeng Zhao’s personal wealth was also doubtful. Estimate because the prices of cryptocurrencies fluctuate all the time.

However, among various rumors at the time, Changpeng Zhao did not come out to clarify that his wealth was not that much, and many of them were valuation bubbles. At this time, when Forbes said that Changpeng Zhao’s net worth had shrunk by 93%, Changpeng Zhao came out to clarify that cryptocurrency assets were overvalued in March. From this, we can see how afraid Changpeng Zhao was of being said to have “lost everything.”

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