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Cryptoprowl / Canadian billionaire Changpeng "CZ" Zhao has hit out at U.S. Senator Elizabeth Warren concerning her comments about a federal bailout of the cryptocurrency industry.

Zhao, who co-founded the Binance cryptocurrency exchange, took to social media after Senator Warren cited him by name in a letter she wrote arguing against a government bailout.

"Crypto never needed a bailout, never will," wrote Zhao on X, citing Warren's letter to the U.S. Federal Reserve that requests assurances against any kind of a bailout for the crypto industry.

Warren's letter referenced Zhao alongside Coinbase Global (NASDAQ: $COIN ) CEO Brian Armstrong, Strategy (MSTR) executive chairman Michael Saylor, and U.S. President Donald Trump.

The Senator's letter said all the people she mentioned are high-profile crypto executives who have suffered paper losses during the current market downturn.

Warren added that these "crypto billionaires" shouldn't expect any government support.

"Other major Bitcoin investors have also seen losses, including Binance founder Changpeng Zhao, who reportedly lost nearly $30 billion…" reads Warren's letter.

Zhao apparently took offense to the Senator's letter and has taken to social media to rebut her worries about a cryptocurrency bailout.

Warren has also criticized the pardon Zhao received from President Trump. Zhao served four months in a U.S. prison for failing to maintain an anti-money laundering program at Binance.

It is not known how much Zhao may have lost as Bitcoin's price has fallen from a record high of $126,000 U.S. last October to $68,000 U.S. today.

At the end of 2025, Zhao's net worth was estimated to be around $60 billion U.S., most of which is due to his continued ownership stake in Binance, the world's largest crypto exchange.

Binance is privately held and its stock doesn't trade on a public exchange.

Zhao is a Canadian citizen, having grown up in Vancouver, British Columbia and earned a degree from McGill University in Montreal.