Changpeng Zhao, widely recognized as CZ, the architect and former CEO of Binance, finds himself back in the public eye with the unauthorized leak of his unpublished memoir, “Freedom of Money.” A major U.S. newspaper reportedly obtained a 300-page draft, unraveling aspects of Zhao’s clandestine discussions with the U.S. Department of Justice, his imprisonment experience, and his enduring rivalry with ex-FTX CEO Sam Bankman-Fried. Through this manuscript, Zhao’s exceptional hold over the cryptocurrency realm is once again spotlighted, offering novel glimpses into these events.
What Does the Memoir Highlight?
The disclosed draft dedicates considerable attention to Zhao’s negotiation techniques with the U.S. Department of Justice, alongside details of his incarceration, which lasted four months. Within, he narrates the fierce competition with Bankman-Fried. Initially, American prosecutors demanded $6.8 billion from Binance, which Zhao countered with $500 million, ultimately settling for $4.3 billion after admitting to breaches in anti-money laundering regulations.
What’s Next After Imprisonment?
After his prison stint, Zhao allegedly faced another detainment by the U.S. Immigration and Customs Enforcement. This time, he spent two weeks under surveillance, marred by ongoing legal maneuvers. His account also recounts meeting former SEC Chair Gary Gensler, whom Zhao approached for a consulting opportunity—an offer Gensler turned down. Their final meeting took place in Tokyo in 2019.
Amid revelations about Sam Bankman-Fried trying to secure billions from Zhao during an FTX crisis, the memoir also addresses U.S. President Donald Trump. It elaborates on Trump’s legal battles over confidential documents and conveys Zhao’s private discussions with his team regarding these controversies.
Voices and Clarifications
In response to the uproar following the draft’s leakage, Zhao remarked on social platform X, saying,
“NYT is already giving my book free publicity.”
He clarified that the draft was prematurely shared without his assent, and its English title might still evolve. His lawyer, Teresa Goody Guillén, further questioned the media’s retelling accuracy, indicating some information possibly not aligning with Zhao’s original content.
From Idea to Paper
Starting in March 2025, CZ unveiled that his initial draft, which exceeded 114,000 words, has been refined to 97,000 words over 300 pages. Preferring the indie route, he plans to self-publish the memoir simultaneously in English and Chinese, with all profits channeled towards charitable endeavors.
– The leaked draft sheds light on crucial negotiations and personal encounters.
– Zhao’s memoir hints at significant competitive dynamics within the crypto sphere.
– His narrative includes intriguing intersections with influential political figures.
CZ’s memoir has generated significant buzz even before its official release, igniting debates about its potential revelations. The crypto community, including Chinese audiences, has kept the title “Freedom of Money” under scrutiny, noting its semblance to works by Li Xiaolai, a noted Chinese crypto influencer. Additionally, a meme-inspired token, named after the leaked memoir, quickly surged in market value. Zhao, distancing himself, reiterated no association with such meme tokens.
The crypto sector keenly anticipates CZ’s memoir, with its release set to offer further insights and confirm the mysterious aspects until now concealed within its chapters.
