An analysis of Changpeng Zhao's assets, the founder of the Binance cryptocurrency exchange, reveals that despite significant amounts, many tokens may not be genuine.
The Bermuda Shorts Problem
The largest asset in Zhao’s wallets is a token called Bermuda Shorts (SHORT), valued at roughly $68.5 million. However, analysts note this may be misleading, as the token appears to have been sent to Zhao without his consent, carries negligible liquidity, and may be part of a scam. If Zhao 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.
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 Zhao 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 situation surrounding Changpeng Zhao's assets calls into question the authenticity of the significant amounts associated with his wallets, while also demonstrating the risks associated with unreliable tokens in the crypto industry.
