Oh, look who’s back! Peter Schiff, the golden goose of doom, is slapping a NFT on gold like it’s the latest fashion trend. “Tokenized gold,” he says, because nothing says “trust” like a vault and an app. 🤷♀️
But wait! Changpeng Zhao (CZ), Binance’s man of the hour, is here to drop the mic. “Tokenized gold isn’t actual gold on-chain,” he quips. “It’s like saying your IOU for a pizza is the same as a Margherita. Spoiler: It’s not.” 🍕
Gold Tokenization: CZ’s “Trust Me Bro” Warning
Peter Schiff, ever the OG goldbug, revealed his shiny new plan: “Buy gold on your phone, store it in a vault, and transfer it like it’s a TikTok dance.” 📱💎 Sounds thrilling until you realize it’s just a glorified gold storage app with a blockchain veneer.
Peter Schiff’s tokenized gold pitch
“You’ll be able to buy gold on an app through your phone, the gold will be stored in a vault and then you will be able to effortlessly transfer ownership of gold to people you know or redeem it for physical gold”
– Tengen (@Crypto_Tengen) October 23, 2025
CZ, ever the crypto realist, called out the “trust me bro” vibes. “Tokenized gold is just a promise wrapped in code. And promises? They’re like crypto airdrops-exciting until they vanish.” 💸
Saying the obvious. Most people “in crypto” know this, most people “not in crypto” may not understand yet.
Tokenizing gold is NOT “on chain” gold.
It’s tokenizing that you trust some third party will give you gold at some later date, even after their management changes, maybe…
– CZ 🔶 BNB (@cz_binance) October 23, 2025
Of course, Schiff hit back like a gold-plated grump. “Brinks hasn’t lost an ounce of gold in 160 years! How hard is this?” 🤬 Meanwhile, CZ is busy plotting Bitcoin’s takeover of the gold throne. “Bitcoin > gold, eventually,” he smirks. 🚀
Gold’s Volatility: A Warning for Bitcoin? 😬
GOLD DROPS 6.5% IN ONE DAY. Peter Schiff, ever the alarmist, warns: “If gold can crash, Bitcoin can crash harder. Buckle up, everyone!” 🚨 He’s also eyeing Bitcoin stocks like they’re about to turn into crypto confetti. 🎉
People have trusted third parties to hold their gold for centuries. Brinks has been storing gold for over 160 years and has never lost an ounce. However, tokenized gold is the same custodial concept as stablecoins. Does this mean that you are against that entire industry too?
– Peter Schiff (@PeterSchiff) October 23, 2025
In the end, it’s CZ vs. Schiff: trustless code vs. vaults and goldfish memories. Who wins? Probably whoever laughs the loudest. 😉
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2025-10-23 15:50