Changpeng Zhao’s Wallets Reveal $70M in Assets – But Most May Be Worthless
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 Editor-in-Chief of Coindoo and co-founder of Millennial Media Group, with nearly a decade of experience covering financial markets - crypto first, then everything else. It started in 2016 with Bitcoin. Like most people at the time, he didn't fully understand it - so he kept digging. Blockchain, tokenomics, the projects, the cycles. That curiosity never stopped, and eventually pulled him into traditional markets too: equities, commodities, macro. Not because he left crypto behind, but because you can't properly understand one without the other. What drives him is straightforward: he wants to know why something is happening, not just that it's happening. Most market coverage stops at the headline - price up, price down, here's a chart. Alex finds that kind of reporting actively unhelpful. If you walk away from an article without understanding the mechanism behind the move, what did you actually learn? He holds a degree in Tourism from New Bulgarian University - not the most obvious path into financial markets, but markets have a way of pulling in people who are simply too curious to stay out. He has authored over 200 in-depth analyses and more than 10,000 articles across crypto and traditional finance. He still thinks every day in markets teaches him something new. That's probably why he hasn't stopped.
