Details of the unpublished manuscript
The New York Times has gotten its hands on a nearly 300-page draft of Changpeng Zhao’s upcoming memoir, “Freedom of Money.” The manuscript, which has not yet been published, covers a fairly sensitive subject. He talks about the secret negotiations between Binance and the US Department of Justice, CZ’s four-month prison sentence, and his complicated relationship with Sam Bankman-Fried.
According to what the Times reported, prosecutors initially wanted $6.8 billion from Binance. The exchange came back with a counteroffer of $500 million. They finally agreed to this $4.3 billion penalty that we’ve all heard about. CZ pleaded guilty to a single count of violating anti-money laundering laws.
The book also describes something that had not been previously reported: CZ got into trouble with Immigration and Customs Enforcement after his release. ICE placed him in detention, saying he overstayed his visa while incarcerated. His lawyers had to intervene, but he still spent his last two weeks in police custody.
From prison to private jet
On the day of his release, in September 2024, the manuscript indicates that CZ left his detention and boarded a private plane. Only 26 minutes passed between release from guard duty and takeoff. It’s a pretty quick transition, I think.
The memoir also covers his interactions with former SEC Chairman Gary Gensler. CZ wrote that he had previously offered Gensler an advisory role at Binance, which Gensler declined. They then met for sushi in Tokyo in 2019.
About Sam Bankman-Fried, CZ recalled that SBF had asked for billions during the 2022 crisis. He wrote that SBF made this request “as if it were asking for a bologna sandwich”. It’s quite a picture.
There is also a passage defending Trump’s handling of classified documents. CZ wrote that he would give a bonus to an employee who brought company files to read in the toilet. When someone quoted this line about X, CZ responded, “That makes sense, right?”
CZ’s response and community reaction
CZ responded on X a few hours after the NYT report. He presented the whole thing as free publicity for his book. “The NYT is already advertising my next book, for free,” he wrote. He added that the Times had obtained “a very early draft, without permission.”
His lawyer, Teresa Goody Guillén, said the New York Times was “writing based on material that appears neither in CZ’s book nor in his words.”
On X, the crypto community largely echoed CZ’s views. Many users agreed that what the Times presented as an expose was actually just great free marketing. The prevailing reaction was that this was essentially a promotional win for CZ.
Chinese users have engaged in debates over how to translate “money freedom”, whether it means financial freedom or monetary freedom. Some have noted that it resembles Li Xiaolai’s book “The Road to Financial Freedom.” Li is a well-known Chinese crypto influencer and author.
Post Details and Memecoin Buzz
The memoir has been in the works since at least March 2025, when CZ revealed a 114,000-word draft. Since then it has been condensed to approximately 97,000 words over 300 pages.
CZ chose to self-publish simultaneously in English and Chinese. According to him, going through a traditional publisher would take too much time. All profits will be donated to charity, which is worth noting.
During the writing process, CZ hinted that the book would explore whether FTX was linked to the collapse of Terra/LUNA in May 2022. But he ultimately held back, writing that he “never saw any concrete evidence.”
The buzz around the memoir even sparked a memecoin. A token called “Freedom of Money” reached a market cap of $8.3 million. On-chain analyst EyeOnChain flagged three wallets that had accumulated tokens ahead of the NYT report. They turned a combined $8,600 investment into $781,000 in unrealized gains.
CZ actually mentioned this possibility in January. When he posted about the Chinese stock 《$币安人生》, he explicitly stated that he did not hold any associated memecoins. “This is not related to any token or meme list,” he wrote at the time.
The memoir is expected to be published in the coming weeks. CZ said the English title could still change and each edition round takes two to three weeks. So maybe we’ll see it soon, but maybe not as soon as people think.
