Binance's CZ Disputes ₱6.6 trillion ($110 billion) Forbes Estimate, Denies Iran Financing
At the Blockchain Summit 2026, Binance co-founder Changpeng Zhao called mainstream media coverage of his wealth and alleged terror financing links completely false, challenging Forbes' calculations while facing renewed US Senate scrutiny.
Key Takeaway
CZ's public pushback signals Binance is fighting media narratives while facing renewed US Senate scrutiny.
Binance co-founder Changpeng Zhao called mainstream media coverage of his wealth and alleged terror financing links completely false at the Blockchain Summit 2026.
Zhao disputed Forbes' claim that his fortune reached ₱6.6 trillion ($110 billion) and grew ₱2.82 trillion ($47 billion) over the prior year, noting crypto prices dropped more than 50% in 2026 and questioning how his net worth could rise when the market tanked. The Forbes estimate would place him above Bill Gates in the billionaire rankings.
The Wall Street Journal reported Binance moved ₱60 billion ($1 billion) to Iran-backed terror groups through its platform. Zhao said he has zero interest in facilitating terrorist financing and lives in a country under Iranian attack. Binance sued the Wall Street Journal and parent company Dow Jones for defamation on March 11.
Senator Richard Blumenthal opened a preliminary inquiry citing the Wall Street Journal report along with coverage from the New York Times and Fortune, with his public letter referencing $1.7 billion in alleged transfers through intermediaries identified by Binance's own compliance staff. Zhao served four months in prison after Binance pleaded guilty in 2023 and paid $4.3 billion to settle US charges for anti-money laundering failures.
Zhao said media outlets latch onto negative narratives and attack with false information. Binance Coin traded at $643.49 at press time on March 20, 2026.
This article was written based on reporting from Bitcoinist.
