{"id":90243,"date":"2025-10-24T14:14:44","date_gmt":"2025-10-24T11:14:44","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=90243"},"modified":"2025-10-24T14:16:15","modified_gmt":"2025-10-24T11:16:15","slug":"changpeng-zhao-counters-bitcoin-critic-peter-schiff","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/changpeng-zhao-counters-bitcoin-critic-peter-schiff\/","title":{"rendered":"Changpeng Zhao Counters Bitcoin Critic Peter Schiff"},"content":{"rendered":"

Renowned cryptocurrency critic Peter Schiff discussed a new RWA<\/a> product, only to face sharp criticism from Binance founder Changpeng Zhao (CZ).<\/p>\n

Schiff Gold is developing an application for purchasing physical gold with subsequent tokenization<\/a> of ownership rights, Schiff stated in a recent interview<\/a>.<\/p>\n

According to him, users will be able to make payments in portions of precious metal using debit cards. He described gold as the “perfect asset for blockchain” and tokenization as a “bridge between traditional values and the digital economy.”\u00a0<\/p>\n

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“Now all of you can carry precious metal in your smartphone,” he noted.\u00a0<\/em><\/p>\n<\/blockquote>\n

“This is not an on-chain asset”<\/h2>\n

CZ criticized the idea, emphasizing that tokenized gold is “backed by empty promises.” \u00a0\u00a0<\/p>\n

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Saying the obvious. Most people \u201cin crypto\u201d know this, most people \u201cnot in crypto\u201d may not understand yet. <\/p>\n

Tokenizing gold is NOT \u201con chain\u201d gold. <\/p>\n

It\u2019s tokenizing that you trust some third party will give you gold at some later date, even after their management changes, maybe\u2026 https:\/\/t.co\/KMYfz2dG04<\/a><\/p>\n

\u2014 CZ \ud83d\udd36 BNB (@cz_binance) October 23, 2025<\/a><\/p><\/blockquote>\n