In Freedom of Money —part memoir, part manifesto—Changpeng Zhao (CZ) recounts his journey from a poor childhood in rural China, to immigrating to Canada, building Binance into the world's largest cryptocurrency exchange, and facing legal challenges in the US and a prison sentence.
What makes this book noteworthy is not only CZ's name, but also the way he recounts his entire journey from a boy growing up in a mud-floor house with no running water, to becoming a crypto billionaire and appearing on the Forbes list with a massive fortune.
Notably, CZ stated that all proceeds from the book will go to charity. This detail makes Freedom of Money not just a story, but also a book with personal and community significance.
Besides recounting the story of building Binance from almost nothing, the book also promises to reveal many previously undisclosed behind-the-scenes details, including relationships, conflicts, and major turning points in the crypto industry. These include frequently mentioned details such as Binance's interest in hiring Gary Gensler, private messages from Sam Bankman-Fried during the early stages, and insights into the collapse of FTX.
CZ also devoted a significant portion to discussing the decisions that helped Binance thrive in a fiercely competitive market, from personnel selection and team building to scaling and maintaining a pace of innovation. Alongside this were his views on transparency, user trust, and the Vai of crypto in expanding financial access, especially in developing countries.
Another noteworthy aspect is the period when Binance was under investigation by US authorities. CZ recounts his prosecution, his decision to plead guilty, his sentence, his time in prison, and his experiences after his release. This is also what makes the book appealing to readers outside the crypto community, as it touches on the themes of power, legal issues, money, and the price of rapid growth.
Looking at it from a broader perspective, Freedom of Money is not just the story of CZ or Binance. It's a snapshot of an entire era of crypto craze, where opportunity, ambition, failure, and controversy all occurred simultaneously.
Beyond the life story and behind-the-scenes narrative of Binance, the book also offers a practical perspective on operational thinking, decision-making, and how CZ views the market during periods of significant volatility.
