Ultra-Wealthy Fear Missing Crypto Boom; Binance Promises a Fix
The ultra wealthy feel like they’ve missed out on crypto riches — and Binance’s founder says to stop chasing “10x overnight” bets
Changpeng Zhao, the cofounder and former CEO of Binance, used X (formerly Twitter) to push back on a question he says he gets repeatedly: where the next “big opportunities” will be.
Zhao said people should pay attention to how he spends his time rather than pursuing what he described as dubious crypto schemes. He warned against “chasing the ‘10x-overnight opportunity’ with 99.99999% failure rate,” framing the search for quick wins as a poor strategy compared with focusing on areas receiving sustained attention and effort.
The comments land as Binance continues to navigate a complicated global backdrop that mixes growth and scrutiny.
In Nigeria, authorities filed a lawsuit seeking $81.5 billion from Binance for alleged economic losses and back taxes. The lawsuit claims Binance has a significant presence in the country despite not being registered there, and argues that this would make the company liable for corporate income tax.
In the UAE, Binance also has ties to major institutional capital. In 2025, the UAE government’s sovereign-wealth fund Mubadala bought a $2 billion stake in the exchange.
Separately, the broader environment around crypto and related entities remains legally complex. The raw information provided also referenced additional defendants in an unspecified matter, including former White House communications officer Anthony Scaramucci, digital-asset exchange Crypto.com, and political groups such as Mark Zuckerberg-founded FWD.US.
Zhao’s message reflects a common tension in crypto: many investors—particularly those who feel they “missed” earlier gains—continue to look for the next breakout trade, while industry leaders increasingly emphasize the risks of chasing fast returns. At the same time, Binance’s position as a major global exchange keeps it at the center of both regulatory disputes and large-scale institutional deals.
