Binance CEO CZ Says He Might Give Away up to 99% of His Wealth in the End

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Changpeng Zhao (CZ), the CEO of the leading cryptocurrency exchange, Binance, has recently revealed that he intends to give away a significant portion of his wealth in the end, up to 99%.

The Binance boss made this revelation during an interview with the Associated Press on Tuesday.

He noted that he is financially free on a personal level and does not need a lot of money. CZ, whose net worth is reportedly around $2 billion, then went on to disclose that he is planning to give away up to 99% of his wealth.

“Personally, I’m financially free. I don’t need a lot of money, and I can maintain my lifestyle in this way. I do intend to give away most of my wealth like many wealthy entrepreneurs or founders did from Rockefeller until today. I do intend to give away 90, 95, or 99% of my wealth.”

CZ also pointed out that he has sort of built credibility over time using Binance, such that even if he decides to develop a new project, there would be willing investors.

“If I say I’m going to do another project, I believe my credibility is there for other people to invest a lot of money.”

Interestingly, CZ had earlier revealed that he will be willing to step down as Binance CEO if the exchange finds someone with a strong regulatory background to lead it through its ongoing regulatory woes.

CZ Reveals That He Holds Bitcoin

During the interview, the Binance boss also disclosed that he holds an undisclosed amount of bitcoin that he had purchased earlier in 2014.

He noted that although he had spent out of his bitcoin stash over the past seven years, he still holds most of them down to this day.

He said,

“I bought some Bitcoins in 2014. I spent a little bit of it over time, but I held onto most of it. I did not sell.”

CZ had seen bitcoin’s price go from below $1,000 back in 2014 to trading near $70,000 last week. That explains why he admitted that he will not be surprised if bitcoin gets to $10 million.

CZ pointed out that he only has bitcoin and Binance Coin (BNB) in his portfolio.

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