Changpeng Zhao, CEO of crypto exchange Binance, has revealed how he distributes his assets.
The founder and CEO of Binance, the world’s largest cryptocurrency exchange by trading volume, has announced that he keeps almost all of his net worth in crypto. .
Zhao, better known as CZ, said in a Twitter chat with a follower that 99.99% of his assets are in crypto or Bitcoin. He also said that he pays all of his expenses, including living expenses for the whole family, through cryptocurrency.
The conversation was started by a Twitter user with the question: “How many of you hold more than 90% of your net worth in crypto or Bitcoin?”. “99.99%,” CZ quickly replied. This response caught the attention of many crypto enthusiasts and market watchers.
Another follower questioning CZ’s financial setup asked if all of his expenses, including expenses for his family, are paid for in crypto. In response, CZ noted that there are several ways to convert crypto to fiat for everyday spending:
“Yes, there are ways to ‘convert at checkout’. Payers pay in crypto, buyers receive in fiat. Binance (and others) can be middleware.”