Binance co-founder CZ previously retweeted data from a media outlet on platform X, which reported that the UAE holds $40 billion worth of Bitcoin. Subsequently, some users in the community claimed that CZ is the main architect of the UAE crypto market. In response, CZ stated that he has indeed invested significantly here (I certainly did a lot of shilling here), but he was not aware that the local holdings were so large (the numbers are so big), nor does he know how much of it can be attributed to his efforts. CZ also mentioned that when he first arrived in Dubai in 2021, there were only a few cryptocurrency companies locally, but within a few months, hundreds emerged, and now there are even thousands.