Changpeng Zhao, better known as CZ, the founder and former CEO of the world-leading cryptocurrency exchange Binance, has once again landed in the spotlight thanks to the leaking of his unpublished memoir, “Freedom of Money.” An American newspaper obtained a 300-page draft of the book, revealing new details about secret negotiations with the U.S. Department of Justice, Zhao’s prison experiences, and his fierce rivalry with former FTX CEO Sam Bankman-Fried. CZ’s extraordinary influence over the cryptocurrency industry continues to make headlines, now with insights from his personal lens.
Main Threads in the Memoir
According to the leaked draft, Zhao dedicates substantial space to describing his negotiating tactics with the U.S. Department of Justice, recounting his four months behind bars, and outlining the long-running competition with Sam Bankman-Fried. The book reveals that American prosecutors initially demanded $6.8 billion from Binance, while the company countered with a $500 million offer before finally agreeing to a $4.3 billion settlement. Zhao ultimately pleaded guilty to violating anti-money laundering laws.
After Detention and Notable Encounters
After his release from prison, Zhao was reportedly detained again by the U.S. Immigration and Customs Enforcement services, spending his last two weeks under close police supervision due to legal wrangling by his attorneys. On the day he was freed in September 2024, he boarded a private jet and left the country just 26 minutes after official clearance. CZ’s book also recounts a meeting with former SEC Chair Gary Gensler, whom Zhao once approached for a consulting role—an offer Gensler ultimately declined. The two are said to have last met in Tokyo in 2019.
The memoir includes anecdotes about Sam Bankman-Fried, notably allegations that SBF sought billions of dollars from Zhao during FTX’s crisis. Stories touch on U.S. President Donald Trump, delving into his legal disputes over classified documents, and detail private comments CZ reportedly shared with his team regarding Trump’s case.
Reactions from CZ and Legal Team
Following the media stir over the leaked manuscript, Zhao responded on social platform X with, “NYT is already giving my book free publicity.” He emphasized that this was a very early draft, acquired without his permission, and cautioned that the English title may still change. His attorney, Teresa Goody Guillén, clarified that some details in the media report did not originate from Zhao himself or the book, raising questions about the accuracy of some circulated information.
Writing and Publishing Journey
CZ revealed that he began working on a 114,000-word draft in March 2025, which, after revisions, now stands at about 97,000 words across 300 pages. He intends to self-publish the memoir in both English and Chinese simultaneously, steering clear of traditional publishers. All proceeds from book sales, he insists, will be donated to charity.
The draft also briefly addresses speculation about FTX’s possible involvement in the May 2022 Terra/LUNA collapse, though Zhao writes that he found no solid evidence linking the two events.
Industry and Community Response
Key revelations from the leaked manuscript quickly rippled through the crypto community. Many users interpreted the reporting as an inadvertent, cost-free marketing campaign for the memoir. Chinese-speaking commentators hotly debated the phrase “Freedom of Money,” questioning both its intended meaning and similarities with previous publications—pointing specifically to the work of Chinese crypto influencer Li Xiaolai.
The book’s leak even prompted the swift launch of a memecoin named after the memoir, with the token’s market value soaring to millions almost overnight. In response, Zhao has reiterated in past statements that he has no ties or involvement with any meme token projects linked to his name or book.
The crypto world now eagerly awaits the official publication of CZ’s memoir, expected to hit the shelves in the coming weeks.
