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Changpeng Zhao (CZ), the founder of Binance and one of the most influential figures in the cryptocurrency world, made striking statements in his first comprehensive interview in a long time, covering everything from his career at McDonald’s to his time in federal prison.
Changpeng Zhao, the founder of Binance, the world’s largest cryptocurrency exchange, appeared on the All-In Podcast and shared previously unknown details about his personal history and recent legal battles. In the nearly two-hour broadcast, CZ touched on a wide range of topics, from his time in prison to his expectations for the Donald Trump era.
In the interview, CZ reminisced about his childhood, recounting his migration story from China to Canada and how he worked at McDonald’s to make ends meet as a young man. He stated that he initially entered the software world “just for a job,” but his passion for efficiency and low-latency systems led him to financial technologies and ultimately to Bitcoin. He described selling his apartment and investing all his assets in Bitcoin in 2013 as a “turning point in his life.”
CZ, who served four months in prison following a plea deal with the US Department of Justice, expressed concerns about security in prison. He stated that he hired “prison counselors” and was warned about the risk of “blackmail and being targeted” due to being the richest person to be imprisoned in US history.
CZ, who described the prison conditions as “lack of luxury,” said the following:
“The plate of fruit I saw when I came out was a real luxury for me. It was so hard to find fresh fruit and decent protein inside. Even being able to shower without touching the wall was one of the greatest freedoms outside.”
CZ, who is no longer at the helm of Binance, announced that he is dedicating his time to his new project, Giggle Academy. He stated that he aims to democratize education through gamification and artificial intelligence by creating a free digital education platform that targets 1.2 billion uneducated people worldwide. He also announced that he will continue his personal investments in biotechnology and artificial intelligence.
Arguing that being a billionaire doesn’t bring as much happiness as people think, CZ said, “Money is just a variable. After a certain point, more money isn’t more valuable than your health, your family, or your peace of mind,” and advised young entrepreneurs to lead a balanced life.
CZ concluded by saying that his autobiography, which he began writing in prison and which has reached approximately 95,000 words, will be published soon, and that he hopes to clear up any misunderstandings about him in it.
*This is not investment advice.