Changpeng Zhao's autobiography, released on April 8, delves into Binance's history, FTX's collapse, and his encounters with Gary Gensler.
Changpeng Zhao, founder of Binance, has launched his autobiography titled Freedom of Money on April 8, 2026. The book explores his journey in establishing the cryptocurrency exchange, personal hardships, the downfall of FTX, and a notable interaction with Gary Gensler, former chairman of the SEC.
In a tweet, Zhao announced that the book is already available in some regions and will be accessible worldwide at midnight, with all proceeds going to charity.
— CZ 🔶 BNB (@cz_binance)
The memoir emphasizes the significance of cryptocurrencies in promoting financial freedom, especially in areas with limited banking options. It is illustrated with personal photographs from Zhao's life, including his family's immigration to Canada and key moments in Binance's history.
Insights on FTX's Collapse
Zhao recounts a phone call from Sam Bankman-Fried in November 2022, where Bankman-Fried casually requested "a couple of billion dollars" from Binance, which Zhao had no intention of fulfilling. He describes the acquisition discussions as protective measures for users rather than genuine interest in FTX.
"I had no desire to own FTX... but I thought we might need to intervene to protect users and the industry," Zhao stated.
Zhao attributes the FTX collapse to Caroline Ellison's public offer to buy Binance's FTT tokens at $22, which led traders to short the asset, causing its value to plummet.
After Binance withdrew from acquiring FTX, a run on the exchange ensued, resulting in $7 billion being withdrawn in a single day. Despite initial fears, Zhao noted that user deposits eventually returned to Binance.
Encounter with Gary Gensler
Zhao also shares an anecdote about meeting Gary Gensler in 2019, when he invited Gensler to join Binance as an advisor, a proposal that was declined. This meeting occurred before Gensler became SEC chairman and initiated regulatory actions against Binance.
"I did not anticipate the future SEC chairman's crackdown on cryptocurrencies," Zhao reflected.
Additionally, Zhao touches on his interactions with other industry figures, including Huobi's Li Lin, who claimed to have been arrested due to a tip-off from OKX's Star Xu—an assertion Xu vehemently denies.
In the book, Zhao recalls past controversies, including accusations of contract forgery against him, which he attributes to damaging rumors in the cryptocurrency space. He also notes a recent court ruling dismissing a lawsuit against Binance and himself related to terrorism financing.
