Coinspeaker
Nov 8, 2025
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Binance Founder CZ Criticizes Gold’s Verifiability in Response to Peter Schiff

Binance founder Changpeng "CZ" Zhao criticized gold's verifiability compared to Bitcoin, targeting well-known Bitcoin critic Peter Schiff. On November 8, CZ argued that gold is "difficult to verify," highlighting concerns about the lack of transparency in US gold reserves, particularly at Fort Knox.

Fort Knox Gold Audit Concerns

  • Discussion on the verifiability of gold compared to digital assets like Bitcoin.
  • An American user questioned the stalled audit of the US gold reserves at Fort Knox.
  • The US Treasury reportedly holds 261.5 million troy ounces of gold, with no comprehensive audit since 1953.

Gold vs. Bitcoin and Tokenized Gold

  • CZ emphasized Bitcoin's transparency due to its blockchain-based nature.
  • Schiff plans to enter the Real-world Assets (RWAs) tokenization space with a tokenized gold product.
  • CZ argued that tokenized gold does not equate to physical gold, as it depends on third-party trust for asset delivery.