Binance co-founder and former CEO Changpeng Zhao, also known as “CZ” weighed in on Peter Schiff’s upcoming tokenized gold product, arguing that such assets are not truly “on-chain” but instead rely on trust in third-party custodians.
CZ Calls Tokenized Gold “Trust-Me-Bro” Tokens After Peter Schiff’s Launch Plans
23 October 2025 - 14:59 CEST
CZ said in a post on X that tokenized gold represents “trust that someone will give you gold later, maybe decades later, after management changes or even during a war,” calling it a “trust-me-bro” token. His comments came after Schiff announced plans for a gold-backed digital product that allows app-based transfers or redemptions for physical gold.
The remarks came amid debate around real-world asset tokenization, with traders noting that custodial risk remains the biggest hurdle to mass adoption. While tokenized gold offers accessibility, skeptics say true decentralization still depends on verifiable, on-chain collateral rather than off-chain promises.
