Changpeng Zhao, the founder and former chief executive of Binance, has released a new memoir detailing his rise in the cryptocurrency industry, legal battles in the United States, and time spent in federal prison.
The book titled ‘Freedom of Money’ offers Zhao’s personal account of building Binance into one of the world’s largest crypto exchanges, while also addressing the regulatory challenges that ultimately led to his resignation and conviction.
Zhao, widely known as CZ, served a four-month prison sentence in 2024 after pleading guilty to violations related to anti-money laundering laws.
His departure from Binance formed part of a broader settlement with U.S. authorities, which also included billions of dollars in penalties for the company.
In the memoir, Zhao reflects on how Binance’s rapid global expansion often outpaced regulatory frameworks, contributing to compliance gaps that later attracted scrutiny from regulators.
A significant portion of the book focuses on his time in prison, where Zhao says he began writing as a way to stay occupied under a tightly controlled routine.
With limited access to shared computers and structured daily schedules, he used the experience to document both his personal journey and the evolution of the crypto industry.
The 364-page memoir traces Zhao’s path from early jobs and entry into technology to launching Binance in 2017 and scaling it during a period of rapid global adoption of digital assets.
Beyond personal reflections, he uses the book to advocate for the broader role of cryptocurrency in expanding financial access, particularly in emerging markets.
Zhao acknowledges the trade-offs and risks associated with scaling such platforms without fully developed regulatory oversight.
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