Arkham Intelligence has shed light on the holdings of Binance founder and former CEO Changpeng Zhao (CZ), identifying more than $70 million worth of cryptocurrency spread across his known wallets.
However, closer inspection shows that most of this value is tied to highly questionable tokens.
The Bermuda Shorts Problem
The largest asset in Zhao’s wallets is a token called Bermuda Shorts (SHORT), valued on paper at roughly $68.5 million. Data shows CZ holds nearly 4 trillion units of the coin, but analysts note this is almost certainly misleading. The token appears to have been sent to Zhao without his consent, carries negligible liquidity, and may be part of a scam. If CZ attempted to sell, it would likely be worth little to nothing.
Genuine Holdings Much Smaller
Beyond SHORT, Zhao’s wallets contain a modest balance of more recognizable tokens. The only significant holding is 956,546 Binance Coin (BNB), valued at around $800,000. Other assets include:
- SIREN: $150,070
- BNB CARD: $114,380
- DOGE BABY: $114,000
- QUQ: $100,390
- GHIBLI: $57,990
- BUBB: $40,570
- XOXO: $32,300
Arkham notes that many of these smaller assets were most likely “airdropped” to Zhao by token creators hoping to boost visibility by associating their projects with a well-known figure in crypto.
Actual Wealth Likely Far Higher
The report stresses that these findings only reflect Zhao’s publicly known wallets. Given his central role in building Binance into the world’s largest crypto exchange, analysts widely believe CZ controls far greater private holdings than what has surfaced on-chain.
For now, though, the data highlights how misleading wallet trackers can be — a billionaire on paper may still hold bags of worthless tokens they never asked for.
The information provided in this article is for informational purposes only and does not constitute financial, investment, or trading advice. Coindoo.com does not endorse or recommend any specific investment strategy or cryptocurrency. Always conduct your own research and consult with a licensed financial advisor before making any investment decisions.
Alex is an experienced financial journalist and cryptocurrency enthusiast. With over 8 years of experience covering the crypto, blockchain, and fintech industries, he is well-versed in the complex and ever-evolving world of digital assets. His insightful and thought-provoking articles provide readers with a clear picture of the latest developments and trends in the market. His approach allows him to break down complex ideas into accessible and in-depth content. Follow his publications to stay up to date with the most important trends and topics.
Source: https://coindoo.com/changpeng-zhaos-wallets-reveal-70m-in-assets-but-most-may-be-worthless/