April 21, 2026
By Shubhii Verma
Changpeng Zhao, widely known as CZ, the founder of Binance, has written a memoir called Freedom of Money. In this book, he shares his life story and, more importantly, the inside journey of how the cryptocurrency industry grew from a small, experimental idea into a global market worth trillions of dollars. The book is not written in fancy language, as English is CZ’s second language, but it offers a rare, honest look at the rise of Binance and the evolution of crypto from the perspective of someone who was at the centre of it all.
CZ explains how he first heard about Bitcoin during a casual poker game with a friend. At the time, he was working in traditional finance and technology. Curious about the concept, he began researching Bitcoin and blockchain. He quickly became convinced that this new technology could change the way money moves across the world. Believing strongly in its future, he sold his apartment and invested heavily in Bitcoin. This risky decision paid off over time, even though he had to survive several major market crashes known as “crypto winters.”
His success with Bitcoin became the foundation for launching Binance. The exchange grew rapidly and eventually became the largest crypto trading platform in the world. But this success also brought regulatory attention. During the Biden administration’s crackdown on crypto companies, Binance and CZ came under investigation. CZ eventually spent four months in a U.S. federal prison and stepped down as Binance’s CEO, although he remains its largest shareholder.
In the book, CZ reflects on his time in prison, describing it as a difficult experience that also gave him time to think about how far the crypto industry had come. What started as a niche community project had now become part of mainstream finance. Major financial players like BlackRock, whose CEO Larry Fink once doubted crypto, are now actively supporting blockchain and digital assets. Fink even endorsed CZ’s book, showing how much the industry’s perception has changed.
CZ also shares his side of the story about Sam Bankman-Fried (SBF), the founder of the failed exchange FTX. When FTX was collapsing, SBF reportedly approached CZ for financial help. However, CZ writes that SBF could not clearly explain how much money was needed or provide enough transparency for Binance to evaluate the situation. Within a day, CZ decided not to proceed with any deal. Shortly after, FTX collapsed, and SBF was later sentenced to prison for fraud.
Through his memoir, CZ shows how crypto survived scandals, legal challenges, and market crashes. His story helps readers understand the past, present, and possible future of the crypto industry from the perspective of one of its most influential figures.
