Binance Founder CZ Clarifies Tokenized Gold Is Not On-Chain Gold
Following President Trump’s pardon of CZ, the Binance founder and gold advocate Peter Schiff plan a public debate on Bitcoin versus Schiff’s tokenized gold project.
Binance founder Changpeng Zhao (CZ), recently pardoned by U.S. President Donald Trump, has agreed to debate economist and gold proponent Peter Schiff on the merits of Bitcoin versus tokenized gold. Schiff, who is launching a blockchain-based gold platform called Tgold, claims it offers a stable, asset-backed alternative to Bitcoin’s volatility, with physical gold purchasable via app and redeemable digitally. Gold prices have recently hit a record $4,380 per ounce before settling near $4,128. CZ counters that tokenized gold relies on custodians and lacks Bitcoin’s decentralization and trustless design, dismissing it as a “trust-me-bro” token. A debate date has not yet been set.
- Tokenized Gold: A blockchain-based digital token representing ownership of physical gold stored in secure vaults, typically requiring a custodian to manage redemption.
- On-Chain Asset: An asset whose existence, transactions, and ownership are directly recorded and verified on a blockchain without reliance on third parties.
- Self-Custody: Holding and managing digital assets directly without third-party intermediaries, allowing owners full control over their private keys.