Hurun Includes CZ on Rich List
The release of the 2025 Hurun Rich List on October 28th generated significant attention within both traditional finance and cryptocurrency circles.
Changpeng Zhao (CZ), the founder of Binance, was notably included on the list, ranking 13th. His estimated fortune was reported as 190 billion RMB, approximately $27 billion, marking a 41% increase from the previous year. This inclusion served as a notable acknowledgment of cryptocurrency's growing influence on global wealth accumulation.
CZ and He Yi Respond to Valuation
Reactions from within the cryptocurrency community were mixed following the list's publication.
CZ himself responded with his characteristic brevity, stating, "Nonsense. Divide by 100 maybe." This remark clearly indicated his skepticism regarding the accuracy of the reported figure.
Binance co-founder He Yi also commented, suggesting that traditional wealth ranking systems often struggle to accurately assess the unique structure of cryptocurrency-based wealth.
Their comments underscored a common sentiment: conventional financial rankings face challenges in evaluating the decentralized and volatile nature of digital assets.
Community Voices Divided
The discussion quickly intensified across online platforms.
Some community members argued that Hurun's valuation was significantly underestimated, proposing that CZ's actual net worth could be considerably higher when accounting for his holdings in BNB, Bitcoin, and assets managed by his family office, YZi Labs, which is reportedly handling around $10 billion.
Conversely, others viewed the ranking with suspicion, labeling it a "pig-slaughter list" potentially designed to attract attention or solicit paid adjustments. Some suggested the inclusion was primarily a public relations strategy to generate controversy. For these individuals, being listed alongside established mainland tycoons felt more like unwanted exposure than genuine recognition.
Understanding Binance's Profitability
Further fueling the debate, Binance had recently completed its 33rd quarterly BNB burn on October 27th, destroying approximately 2.09 million BNB tokens valued at $1.208 billion. Given that Binance allocates about 20% of its profits to token burns, this implies a quarterly profit close to $6.4 billion, or roughly $55,000 per minute.
For comparative context, Alibaba reported a Q2 2025 profit of $4.678 billion. This suggests that Binance may already be surpassing one of Asia's most established technology companies in terms of profitability. Considering these figures, Hurun's valuation of $27 billion appears remarkably conservative.
The Challenge of Estimating Crypto Wealth
Accurately measuring wealth within the cryptocurrency space presents substantial difficulties.
Token values are subject to extreme fluctuations, ownership structures can be opaque, and holdings in non-custodial wallets are not publicly visible. Unlike founders of publicly traded companies, CZ is not obligated to disclose his shareholdings or provide audited financial statements. Consequently, any net worth estimate is inherently based on assumptions, incomplete data, and speculation, making both overestimation and underestimation unavoidable.
The True Significance
While the debate raged over whether CZ's net worth was $27 billion, $60 billion, or even $150 billion, Binance continued its profitable operations and expanded its global footprint. The accuracy of Hurun's figure, whether high or low, does not alter the company's market dominance.
This intense focus on billionaire rankings may be misdirecting attention from more crucial aspects of the industry.
The growth of cryptocurrency is not solely dependent on who appears on a rich list but is driven by continuous innovation, persistent development, and the progress of the community. As one community member aptly put it, "Instead of guessing CZ’s wallet size, maybe finish your own work first."
Ultimately, the more relevant question is not the size of CZ's holdings, but the individual progress each person can achieve. Wealth lists may fluctuate, but personal growth and advancement are the metrics that truly matter.