Binance founder Changpeng Zhao, better known as CZ, said most of the first draft of his 374-page autobiography, titled Binance Life, was written while he was in prison. He said computer access was limited to 15-minute sessions, with no copy-and-paste function, forcing him to wait in line for a device and write in short bursts.
CZ also revisited Binance’s November 2023 settlement over violations of the U.S. Bank Secrecy Act. Binance paid $4.3 billion, while Zhao himself was fined $150 million and stepped down as CEO. He said that if he had not taken on that responsibility, Binance and the broader crypto industry could have faced a bigger impact, and described the choice as worth it.
He added that the hardest part of his time in custody was the uncertainty. According to Zhao, both the fine amount and prison term changed during the process, and U.S. Immigration and Customs Enforcement issued detention orders three times. He said the experience showed him that freedom is not absolute, while strengthening his belief in what he called “financial freedom.”
Binance founder Changpeng Zhao, or CZ, said most of the first draft of his 374-page autobiography, Binance Life, was completed while he was in prison. He said he had access to a computer for only 15 minutes at a time, could not use copy and paste, and had to wait in line for a device before writing in short stretches.
Zhao also looked back on Binance’s November 2023 penalty for violating the U.S. Bank Secrecy Act. Binance paid $4.3 billion, while Zhao was personally fined $150 million and stepped down as CEO. He said that if he had not taken responsibility, Binance and the wider industry might have faced a bigger impact, adding that the decision was “worth it.”
He said the most difficult part of his time in custody was the uncertainty. During that period, the fine amount and prison term changed, and U.S. Immigration and Customs Enforcement issued detention orders three times.
Zhao said the experience led him to realize that freedom is not 100%, but it also made his belief in “financial freedom” stronger.
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