CZ Challenges Peter Schiff’s Tokenized Gold Claims
Binance founder Changpeng Zhao has publicly disputed economist Peter Schiff's plans to launch a tokenized gold product. Schiff, a long-time gold advocate, claims his offering WOULD allow users to transact directly in gold via a linked debit card—automatically converting holdings to cover payments.
Zhao countered that such products remain dependent on third-party redemption, calling them "trust-me-bro" tokens rather than true on-chain assets. While acknowledging crypto natives grasp asset bridging concepts, he emphasized the steep learning curve for mainstream adoption.
The debate highlights divergent views on asset tokenization. Schiff positions Gold as an ideal monetary instrument, while Zhao maintains only natively on-chain assets achieve crypto's trustless promise. No specific cryptocurrencies or exchanges were directly implicated in the exchange.
