Uploaded April 2026 | Updated September 2026, 1 week ago
Some of you may know the name Changpeng Zhao—or CZ, as he’s almost universally known in the tech and finance worlds—as crypto’s richest man. Forbes calculated his net worth as greater than $110 billion. That puts him ahead of Bill Gates, though CZ denies it.
He founded Binance, the world’s largest cryptocurrency exchange, transforming it from a start-up in 2017 into one of the most powerful companies in finance.
Then, in November 2023, CZ pleaded guilty to violating the U.S. Bank Secrecy Act by failing to maintain an effective anti-money laundering program. He stepped down as CEO and paid a $50 million fine, while Binance paid $4.3 billion.
When I asked him about this charge, he acknowledged that Binance’s “earlier compliance program was weak,” and that Binance “could have done better.”
The case also led to a four-month sentence at a correctional facility in Long Beach, California, where he taught fellow inmates—and even some guards—about cryptocurrency, and wrote his newly released book, Freedom of Money: A Memoir of Protecting Users, Resilience, and the Founding of Binance.
In our conversation, I ask about the DOJ case against him and Binance; the controversy surrounding his pardon and alleged business dealings with the Donald Trump family; what he thinks about President Trump profiting from crypto ventures; whether it is ethical for a president’s family to launch a meme coin; and, more broadly, how he sees the future of the crypto industry.
I also ask whether Sam Bankman-Fried (whose firm CZ once invested in) was treated fairly; why terrorist organizations and criminal networks are drawn to cryptocurrency; and whether there is any effective way to prevent that kind of illegal activity.
We ended by discussing the possibility of a Binance IPO; who he believes Satoshi Nakamoto really is; and why he was just as happy growing up in rural China, in a home with a dirt floor and no running water, as he is today.
I learned a great deal from this conversation, and I think you will too.
Some of you may know the name Changpeng Zhao—or CZ, as he’s almost universally known in the tech and finance worlds—as crypto’s richest man. Forbes calculated his net worth as greater than $110 billion. That puts him ahead of Bill Gates, though CZ denies it.
He founded Binance, the world’s largest cryptocurrency exchange, transforming it from a start-up in 2017 into one of the most powerful companies in finance.
Then, in November 2023, CZ pleaded guilty to violating the U.S. Bank Secrecy Act by failing to maintain an effective anti-money laundering program. He stepped down as CEO and paid a $50 million fine, while Binance paid $4.3 billion.
When I asked him about this charge, he acknowledged that Binance’s “earlier compliance program was weak,” and that Binance “could have done better.”
The case also led to a four-month sentence at a correctional facility in Long Beach, California, where he taught fellow inmates—and even some guards—about cryptocurrency, and wrote his newly released book, Freedom of Money: A Memoir of Protecting Users, Resilience, and the Founding of Binance.
In our conversation, I ask about the DOJ case against him and Binance; the controversy surrounding his pardon and alleged business dealings with the Donald Trump family; what he thinks about President Trump profiting from crypto ventures; whether it is ethical for a president’s family to launch a meme coin; and, more broadly, how he sees the future of the crypto industry.
I also ask whether Sam Bankman-Fried (whose firm CZ once invested in) was treated fairly; why terrorist organizations and criminal networks are drawn to cryptocurrency; and whether there is any effective way to prevent that kind of illegal activity.
We ended by discussing the possibility of a Binance IPO; who he believes Satoshi Nakamoto really is; and why he was just as happy growing up in rural China, in a home with a dirt floor and no running water, as he is today.
I learned a great deal from this conversation, and I think you will too.
