In his new book, *Freedom of Money*, Changpeng Zhao – often known as CZ – shares his life story, from growing up in rural China to founding the cryptocurrency exchange Binance. The book also dives into the world of crypto, looking at its growth, the challenges it’s faced, and what the future might hold for financial independence.
Key Takeaways:
- Changpeng Zhao’s 2026 book details Binance’s 2017 rise, shaping views on crypto leadership.
- CZ covers FTX and Terra crashes, highlighting risks that pushed stricter industry oversight.
- Binance’s $4.3 billion U.S. settlement signals regulation ahead as CZ backs broader crypto adoption.
CZ’s Memoir Reveals Binance’s Rise and Crypto Turmoil
Changpeng Zhao, widely known as CZ, has released Freedom of Money, a memoir that traces his journey from modest beginnings to leading one of the largest crypto exchanges in the world.
The book blends personal history with a broader view of the crypto industry. CZ recounts his childhood in rural China, where he lived without modern amenities, and his move to Canada as a teenager. From there, he worked part-time jobs, studied computer science, and built a career in finance and technology.
His early years shaped his approach to business. At Bloomberg, he moved quickly into leadership roles. Later, he returned to Asia to start companies and eventually discovered bitcoin in 2013. He made a bold decision to go all-in, even as the market crashed during the Mt. Gox collapse.
My research then turned to Binance. Launched in 2017, the exchange quickly became a major global platform, attracting hundreds of millions of users. In my interviews, CZ highlighted crucial decisions that fueled Binance’s growth, emphasizing speed, building user trust, and consistently innovating with new products.
The book covers significant events in the crypto world, including the failure of FTX. CZ explains why he decided against trying to save FTX after looking at its finances, and he also shares his thoughts on the Terra crash, detailing why Binance didn’t sell its assets even as the situation became more dangerous.
Another key topic is regulation. CZ discusses the attention Binance has received from U.S. regulators, including the legal case that led to a $4.3 billion settlement and a four-month prison sentence for him. He emphasizes that the case wasn’t about criminal activity like fraud or money laundering, but stemmed from the company not fully following the rules when it was first starting out.
This memoir shares personal insights into leadership and how to make tough choices. CZ highlights the value of staying disciplined, planning for the future, and making quick decisions, especially when the market is unpredictable.
Initial readers have praised CZ for his honest and open memoir, noting that it doesn’t portray him as perfect, but instead reveals how he remained true to himself throughout his journey.
At its core, Freedom of Money is about access. CZ argues that crypto can expand financial inclusion, especially in regions where traditional banking systems fall short.
The book is being released globally, with all proceeds directed to charity.
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2026-04-08 17:28