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ToggleFormer Binance CEO Changpeng CZ(CZ) hosted a one-hour AMA (Ask Me Anything) livestream at Binance Square on April 15, 2026, at 9 PM Taiwan time. The event primarily focused on the community response to the release of his new book, *Freedom of Money*, and Binance co-founder He Yi also made an appearance to lend her support.
The entire AMA was relaxed and down-to-earth. CZ did not give specific price predictions or strongly push up prices. Instead, he sincerely shared his mental journey from facing regulation, imprisonment to regaining his freedom, as well as his long-term investment philosophy in the cryptocurrency market.
Writing a book was a way for me to end my own life; my mindset became even more detached after my release from prison.
Speaking about his new book, *Freedom of Money*, CZ frankly admitted that writing it was a long and unexpected process of self-reflection. The first draft was always terrible, requiring 10 to 20 revisions. The book candidly recounts his real-life experiences, including dealing with regulatory investigations in the US, serving four months in prison, and the death of his father.
"Only after writing down and making the experience public can that chapter truly be turned over." CZ encourages everyone to use writing to achieve self-healing. He humorously remarked that there's a saying that writing a memoir is a good way to offend friends because you have to honestly discuss issues, but he has reached a stage in life where he can calmly accept being "criticized." He also revealed that a lot of "explosive material" was actually cut from the book, and perhaps it will be added back in the second edition.
Looking back on his four months in prison, CZ demonstrated remarkable resilience. He stated that every difficult moment in life offers valuable lessons, and since his release, he has adopted a more detached mindset, firmly believing that "the long run is the true victory." When asked questions on social media, he jokingly remarked:
"Having spent four months in jail, I should be able to handle an hour of spicy questions!"
Bear Market Reveals True Character: CZ's "Long-Termism" Investment Principles
Regarding investment and project selection, CZ offered practical advice that was widely shared in the community. He emphasized that he particularly enjoys investing during bear markets .
- Seek out mission-driven teams: If founders continue to launch products and iterate protocols during market crashes, they are more likely to weather the bear market. The real winners are teams willing to persevere for more than two years.
- Rejecting empty talk and high valuations: CZ bluntly stated his strong aversion to those crazy projects in bull markets that shout about a $100 million valuation without any product or users. Valuations in bear markets are more pragmatic, and teams are more focused.
- Accepting the failure rate: He recalled that Binance was once rejected by all VCs. Investments can't be 100% successful; if you invest in every project, 99.999% will fail. Ideally, the failure rate should be controlled at 70%-80%. As long as successful projects bring 10 to 100 times growth, the overall return is positive.
Regarding entrepreneurship, CZ emphasized that he is not a typical "college dropout entrepreneur," and such extremely successful examples are rare. Before founding Binance, he had worked diligently for 17 years. He advised founders to control risk, and that investment should be a "buy" rather than a "loan" burdened with heavy debt.
Meme coin should be community-driven; Binance should not promote it.
In response to the recent buzz surrounding Meme coin, some users have inquired whether Binance will provide targeted support for native Meme coin.
CZ responded by pointing out that BNB Chain already has mature infrastructure such as PancakeSwap to support the development of Meme coin. However, users should judge and decide for themselves which projects to focus on and how to operate. He reiterated that Binance will not actively pump Meme coin, but rather encourages long-term community building, rather than blindly chasing short-term trends.
At the end of the AMA, to thank the community for their support and interaction, CZ generously gave away 10 autographed copies of "Freedom of Money," bringing this philosophical and insightful conversation to a perfect close.
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