The New York Times obtained a nearly 300-page draft of Changpeng Zhao’s unpublished memoir, detailing secret DOJ negotiations, prison life, and his rivalry with Sam Bankman-Fried.
But what NYT framed as a critical exposé, CZ and the crypto community quickly recast as the year’s best free book promotion.
Inside the Manuscript
The New York Times reported on Feb. 27 that it obtained a draft of CZ’s upcoming memoir, “Freedom of Money.” The manuscript details secret negotiations with the US Department of Justice, his four-month prison sentence, and rivalry with Sam Bankman-Fried.
According to the NYT, prosecutors initially demanded $6.8 billion from Binance. The exchange countered with $500 million. They ultimately settled on a $4.3 billion penalty. CZ pleaded guilty to a single count of violating the anti-money-laundering law.
The memoir also describes CZ’s previously unreported run-in with Immigration and Customs Enforcement after his release. ICE placed a detainer on him, claiming he had overstayed his visa, while incarcerated. His lawyers intervened, but he spent his final two weeks under police custody.
On the day of his release in September 2024, CZ left detention and boarded a private plane. Only 26 minutes elapsed between leaving custody and takeoff, according to the manuscript.
The book also covers CZ’s interactions with former SEC Chair Gary Gensler. CZ wrote that he once offered Gensler an advisory role at Binance, which Gensler declined. They later met for sushi in Tokyo in 2019.
On FTX founder Sam Bankman-Fried, CZ recalled that SBF asked for billions during the 2022 crisis. CZ wrote that SBF made the request “as if he were asking for a bologna sandwich.”
President Trump pardoned CZ last fall. The memoir draft contains passages defending Trump’s handling of classified documents. CZ wrote that he would give a bonus to an employee who took files to read in the bathroom.
Notably absent from the manuscript are details about CZ’s pardon campaign and Binance’s business ties with the Trump family’s crypto venture.
CZ Responds: ‘Free Advertising’
CZ responded on X within hours of the NYT report. He framed the coverage as an unpaid promotion for his book.
“NYT is advertising my upcoming book already, for free,” CZ wrote. He added that the Times obtained “a very early draft, without permission.”
His lawyer, Teresa Goody Guillén, said the NYT was “writing based on material that is neither in CZ’s book nor in his words.”
The manuscript also contains a passage defending Trump over his classified documents prosecution. CZ wrote that he would give a bonus to an employee who took the company files to read in the bathroom. When a user quoted that line on X, CZ replied: “make sense, right?”
CZ said the English title remains subject to change. The Chinese edition is tentatively titled 《币安人生》. He indicated publication may be delayed, noting each round of editing takes two to three weeks.
Road to Publication
The memoir has been in the works since at least March 2025, when CZ revealed a 114,000-word draft. The manuscript has since been condensed to roughly 97,000 words across 300 pages.
CZ chose to self-publish simultaneously in English and Chinese. He said going through a traditional publisher would take too long. All proceeds will go to charity.
During the writing process, CZ hinted that the book would explore whether FTX was connected to the Terra/LUNA collapse in May 2022. He ultimately held back, writing that he “never saw hard evidence.”
Community Reacts
On X, the dominant reaction framed NYT’s critical report as free book marketing. Multiple users echoed CZ’s own characterization.
Chinese-speaking users debated how to translate “Freedom of Money” — whether it means financial freedom or monetary liberty. Some noted its resemblance to Li Xiaolai’s book “The Road to Financial Freedom.” Li is a prominent Chinese crypto influencer and author.
The memoir buzz also triggered a memecoin. A token called “Freedom of Money” surged to an $8.3 million market cap. On-chain analyst EyeOnChain flagged three wallets that had accumulated tokens before the NYT report. They turned a combined $8,600 investment into $781,000 in unrealized gains.
CZ had preemptively addressed this possibility. In a January 8 post about the Chinese title 《币安人生》, he explicitly stated he holds no related memecoins. “This is not related to any meme tokens or listings,” he wrote at the time.
CZ’s memoir is expected in the coming weeks.
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