Former Binance (CRYPTO: BNB) CEO Changpeng Zhao released his memoir “Freedom of Money” globally, revealing he voluntarily faced DOJ charges to protect Binance and the crypto industry.

Why He Came To The U.S.

Zhao was living in the UAE, a non-extradition state, and could have stayed there indefinitely.

However, he chose to face charges because staying away would have severely damaged Binance, hurt BNB holders, and negatively impacted the broader crypto industry.

Zhao said he didn’t expect to go to jail. His lawyers couldn’t find a single case where a single BSA violation landed someone in prison. 

He expected home confinement at worst, similar to what former BitMEX CEO Arthur Hayes received.

The Sentencing Shock

The DOJ asked for 36 months just one week before Zhao’s April 30, 2024 sentencing hearing. 

His lawyer called the request outrageous—even under the most severe sentencing guidelines, his sentence should have been 10 to 16 months.

The judge gave him four months, which Zhao called surprising but within the realm of possibilities. 

He said the physical aspect was manageable, but the mental stress was overwhelming because he didn’t know what would happen next.

Writing The Book In Prison

Zhao wrote most of the memoir while in federal prison on a shared computer with only 15-minute access slots per day.

He said he wanted to keep himself busy rather than play dominoes with other inmates.

“I thought that might be a good time to share that experience,” Zhao said. “I’m pretty transparent about it. I’m pretty comfortable sharing what I went through, what I pleaded to, what I agreed to, what I didn’t agree to,” he added.

He lost 10 kilograms during his four-month sentence and maintained a strict workout routine that he continues today.

The Presidential Pardon

President Trump granted Zhao a pardon in 2025. Zhao said the pardon provides vindication and shows the U.S. can reverse course 180 degrees on crypto policy.

He warned that the previous administration’s direction would have left the U.S. without a crypto blockchain industry, adding that any country missing major technological shifts like the internet, blockchain, or AI will be severely disadvantaged.

Life After Prison

Zhao launched Giggle Academy, a free learning platform that now serves 240,000 students, and Wise Labs, a $10 billion investment vehicle supporting builders in Web3, AI, and biotech. 

He’s donating all book proceeds to nonprofit organizations.

Zhao explained that prison made him realize what matters most. When everything was taken away, he missed his family more than anything else—not comfortable beds, good food, or freedom of movement, but the people he loved. 

He now spends significantly more time with his family and encourages other founders to prioritize quality time with loved ones despite busy schedules.

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