Recently, The New York Times published an in-depth interview with Binance founder Changpeng Zhao. During the interview, Zhao Changpeng sent out a series of opinions on personal wealth valuation, early investment logic, current state of industry ecology, and direction of supervision. In response to Forbes' estimate that his net worth exceeds 114 billion US dollars, Zhao Changpeng proposed a correction. He said that the valuation is clearly inflated, and his real assets are in the range of 10 billion to 30 billion US dollars. In his view, the marginal utility of wealth is diminishing; only 10 million US dollars is enough to support a comfortable daily life. Wealth exceeding this amount has limited significance for improving the quality of personal life. Looking back at the starting point of personal investment, Zhao Changpeng revealed in an interview that in 2013, he first heard about Bitcoin in a game in Shanghai. After months of research, he sold a three-bedroom property in Shanghai and invested all of his 900,000 US dollars in Bitcoin. At the time, he determined that Bitcoin represents financial technology without borders and is in line with the long-term trend of cross-border finance. Even if the investment fails, he can still get a high-paying job in the traditional financial field again. The interview mentioned MGX's $2 billion investment deal on Binance, which valued Binance at $75 billion. Zhao Changpeng originally wanted the transaction to be settled in Bitcoin, but investors in the UAE are concerned about transaction risks caused by sharp fluctuations in Bitcoin prices and prefer to use stablecoins to complete the payment. There have been reports in the market that Binance chose to use the USD1 stablecoin settlement, which had no market verification at the time. Zhao Changpeng denied this, saying that the choice was made independently by MGX. He expressed his opinion on stablecoins in this regard: as long as stablecoins have good reputation and do not go back to zero overnight, he won't get too confused about specific varieties. At the corporate governance level, Zhao Changpeng stressed that he is no longer involved in the daily operation and management of Binance, but only as a passive shareholder. Regarding Binance's previous lawsuit against the “Wall Street Journal”, Zhao Changpeng said bluntly that this lawsuit was extremely expensive. Even if the lawsuit was won, it would be difficult for Binance to obtain real benefits, and it was an unnecessary consumption. Binance has since withdrawn the lawsuit.

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