Fake Wealth? The Mystery of the Token in Changpeng Zhao’s Wallet According to Arkham Intelligence

Updated

August 19, 2025

Gambar Fake Wealth? The Mystery of the Token in Changpeng Zhao’s Wallet According to Arkham Intelligence

Jakarta, Pintu News – Blockchain analytics firm Arkham Intelligence recently uncovered the on-chain activities of Binance founder Changpeng Zhao, better known as CZ. The findings highlight a significant discrepancy between the theoretical value and market reality of the crypto assets held. Further analysis suggests that much of CZ’s wealth recorded on the blockchain may not reflect its true value.

The Mystery of Bermuda Shorts

Changpeng Zhao richest crypto billionaire — coindesk.com

Most of CZ’s reported wealth comes from a little-known token called Bermuda Shorts (SHORT). Zhao’s wallet shows ownership of nearly 4 trillion SHORT units, with a theoretical value of $68.5 million. However, market data shows that this token has almost no liquidity.

This has led analysts to conclude that the valuation is more illusion than reality. This lack of liquidity raises big questions about the validity and function of such tokens in the crypto ecosystem. In the absence of active buyers and sellers, token values can be highly subjective and often do not reflect true market conditions.

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A More Authentic Portfolio

Outside of SHORT, CZ’s assets seem more realistic and moderate. His most valuable asset is Binance Coin with 956,546 units, which is worth around $800,000 at current prices. In addition, there are several other lesser-known coins with smaller values in his wallet such as SIREN, DOGE BABY, GHIBLI, BUBB, QUQ, XOXO, and BNB CARD tokens.

These holdings show the broader spectrum of crypto investments that individuals in the industry may have. While some assets may not be very valuable, their presence shows diversification and prudence in choosing investments.

CZ Wealth Analysis

Arkham Intelligence’s research underscores the importance of understanding how on-chain wealth tracking works. While wallets associated with CZ show questionable or unsolicited token ownership, the true wealth almost certainly resides elsewhere.

As the architect of Binance, the largest crypto exchange by trading volume, CZ is believed to control a large amount of private assets that are not visible on the public blockchain. Analysts advise against relying solely on wallet trackers to assess one’s wealth, as these systems can easily be manipulated to display greater apparent wealth with tokens that have little to no real value.

Conclusion

The CZ case teaches that appearances on the blockchain can be misleading. It is important for observers and investors to look deeper than just the numbers recorded in digital wallets. With a deeper understanding of how value is determined and maintained in crypto markets, we can get a more accurate picture of a person’s wealth and influence in the industry.

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