Translation: Ordinary Blockchain

Once, he was the "Godfather of Cryptocurrency" leading a trillion-dollar crypto empire; in the blink of an eye, he ranked among the highest-priced deceased in American history.After experiencing a shift from global financial elite to the Alexandra Detention Center, Zhao Changpeng (CZ) returns to the public eye with his new book "The Freedom of Money".

This is not just an exclusive wealth review written from behind bars, but a profound game about truth, interstellar currency, and AI privileges. In this lengthy interview, he discloses, for the first time in full, how in a prison with only rudimentary terminals, forced to disconnect every 15 minutes, he pieced together his desire for freedom word by word; he honestly dismantles his “strange” relationship with money and predicts a future economy of a thousand-fold scale soon to be reconstructed by AI agents.

If money is no longer the destination, where will Zhao Changpeng head next? Is it the AI labs of Silicon Valley, the longevity of biotechnology, or that “home planet Elon Musk wants to return to” that he speaks of? Open this interview to see how this most controversial entrepreneur delves into his crypto starry seas.
 

The Birth of "The Freedom of Money" from Behind Bars

Host: This week I have been telling you that I am going to meet a mysterious guest in a secret location. I can't confirm who the guest is or reveal the place, but now we have finally arrived. The mysterious guest is Zhao Changpeng (CZ), and we successfully conducted this exclusive interview with him at this secret location. Zhao Changpeng, it's great to see you. I think this is the first time we have sat down to chat since you left us. The last time we met was three years ago, right?

Zhao Changpeng:About that, yes, it's been a long time.

Host: We are here today because you have published a new book called "The Freedom of Money". When did you start writing this book?

Zhao Changpeng:I started writing in prison. At that time, I had a lot of time but not many resources. I couldn't go online and had to use a very rudimentary terminal, only able to use it for 15 minutes at a time before being logged off. The terminal couldn't copy and paste; I could only type, and I couldn't delete anything. If I deleted something, I had to retype it. At that time I poured out all my thoughts from my brain and then emailed my colleagues and a friend. After being released, it took me about a year and a half to finally complete it. The writing process took about six months, but it was revised many times, and each revision of a 400-page book took two to three weeks.

Host: What did you want to prepare before writing the book? Why choose to write a book? Were you scared, nervous, or anxious at that time?

Zhao Changpeng:There were several reasons. In prison, I just wanted to keep myself busy, and writing a book was a great way to spend time. I didn't need anything else; just to immerse myself in my thoughts. At that time, I was also thinking of ways to get online, always waiting in line. But more importantly for me, writing the book was actually a conversation with myself, reviewing my life experiences. You reflect on what things are important and meaningful. I was inspired by reading others' memoirs, like Anne Lamott, who said you have to write for yourself. After being released, I felt it was a natural turning point in my life. I wanted to publish it right after getting out, but the process of pardon and waiting took some time. When the pardon really came through, I was a bit surprised and felt it was a perfect punctuation mark for the book, so I quickly finished it.

Host: Tell me about the specific feeling of writing a book in prison. What was enjoyable there?

Zhao Changpeng:We have 200 cells in our area, three stories high. There are only four terminals, and you have to wait in line to use them, and each time it's only for 15 minutes. The computers can’t go online, only have an instant messaging software, where you can send messages to pre-approved dry cleaners, with a maximum of 30 people. I had two dry cleaners, one was assistant Li, and the other was my friend Michael Sanetos. I wrote one segment for 15 minutes each year, then had to wait a few hours to queue again. Every day, I had to write three or four segments this way. I would bring pen and paper to note the points I wanted to write next, and when on the computer, I would carefully pour my thoughts onto the page.

Host:You were there for four months?

Zhao Changpeng:I actually only waited for 76 days, but then was sent to a halfway house, and my movements were still regulated. I stayed there for three to four weeks, and then the last 14 days were again locked up until my sentence ended. Those last 14 days were really terrifying, and I couldn't write at all because I had no contact.

Host: What was the scariest part of being in prison? Was it the moment you walked in?

Zhao Changpeng:Before you go in, you don’t know what will happen. The newspapers wrote that I was the richest prison inmate in American history and the only one sentenced to prison for violating the Bank Secrecy Act (BSA). My lawyer told me I could easily become a target for extortion, which made me very worried. Once inside, it was indeed a bit scary to have those two hundred captured men watching. But in fact, most of the people were quite reasonable; they had their own rules. What I worried about next was whether they would keep me locked up forever, looking for other charges to add. Especially after arriving at the halfway house, the police handcuffed me again to take me back to the detention center; that kind of mental pressure was enormous. On the day I left, I kept waiting for the plane to fly over American airspace before I dared to call for help.

Prison Life Under Special Treatment and Life Reflections

Host: It sounds like you have post-traumatic stress. You thought you wouldn't go to prison, but then the situation changed at the last moment. Do you feel like the rules could change at any moment?

Zhao Changpeng:Absolutely correct. Any lawyer would tell you that throughout American history, no one has been sentenced to prison for serious violations of the Bank Secrecy Act; I am the only one because I was treated specially. Just five days before my sentencing, Elizabeth Warren declared war on cryptocurrency during Biden's administration. My judge also said he could not follow precedent; my case was unique.

Host: How do your fellow inmates see you? Do they respect you?

Zhao Changpeng:When I first went in, a few people recognized me, but they didn’t come up to talk. Those who recognized me were mostly educated; most inmates do not read the Wall Street Journal or Bloomberg. But everyone quickly found out that I came from a good family, as my family sent me 80 to 90 dollars each week, which is the highest pardon in prison. There is a small economic system in the prison; they would say this guy comes from a good background. When it comes to financial crimes, they automatically assume it involves fraud; I tried to explain that there was no fraud, but they took it seriously. People showed me a certain level of respect, and later through word of mouth, they realized I was a big deal. I quickly integrated into a group composed of Asians, Native Americans, and Pacific Islanders, which provided a certain level of protection.

Host:What was the scariest thing you experienced there?

Zhao Changpeng:There were many new experiences and uncertain conditions. Once a guard called me into a small room and left me there for two hours without explaining why; later I found out I violated a dress code. They were playing psychological warfare. I did not face physical threats; although there were a few fights, they weren’t serious, and there were no knives.

Host:Did you make any friends there?

Zhao Changpeng:Yes, I am still in contact with two of them. One guy robbed 12 banks, but he developed it himself at Cisco. He was sentenced to 25 years for the weight he carried; after serving 17 years, he is about to be released. He is an IT professional, gentle in nature, and when he was young, if he lost money while playing, he would rob banks without doing any research or changing his clothes, which is why he got caught.

Host:Outside you are a big shot, but inside it’s just a number, do you feel anger or resentment?

Zhao Changpeng:I was actually treated the same as others; I didn't want anyone to know who I was, nor did I want to wield power in prison. Being an ordinary person was actually very important; I just wanted to end it all and be back with my family.

Host:What do you miss the most?

Zhao Changpeng:What you miss the most are people; your family, children, loved ones. You miss food and the awkward washing of friends, but the most you miss are people. This made me realize that reputation and brotherhood are not important; I don’t care how others see me; what I care about is how I see myself when I grow old.

Host:Are there any benefits to prison life?

Zhao Changpeng:My body became healthier and stronger, and I continued to maintain that after being released. It also made me more aware of what is most important. I used to decide to work 20 hours a day for eight years; I don't regret that time, but I'm glad I was forced to change my rest direction for a while. Different stages of life will involve doing different things.

From Binance CEO to Giggle Academy Transformation

Host: Do you still miss the busy days? Reflect on your 100% state today.

Zhao Changpeng:I am still very busy now, but it is much more relaxed. I currently have four equally important things: Giggle Academy, Easy Labs, the BNB blockchain project, and government consulting work. These take up about 80% to 90% of my time, with the rest spent with my family. I now spend quality time with my family, and when we're together, I don't use my phone. I have five children; the older ones have just graduated from college, and the younger ones are 7, 5, and 3 years old.

Host: How do you plan to raise your children? Will you leave them with a current billion-dollar inheritance?

Zhao Changpeng:I agree with Warren Buffett's philosophy: give your children enough money to make them feel they can do nothing, but not so much that they feel they can do anything. I will not give them a lot of money. If you want luxuries, commercial air travel, and private jets, you have to earn it yourself. I will support their basic living. I intend to leave them a few thousand dollars to be distributed through a trust fund at different levels. If by the age of 50, they have not achieved something, then perhaps I will give more, but it won't be their number. I hope to use most of the money while I am alive so that it can have a social impact.

Host: Specifically, what projects do you want to invest that money in?

Zhao Changpeng:Besides charity, the most significant impact is improving existing technologies. I heavily invest in artificial intelligence and biotechnology. AI can sort massive amounts of data efficiently, while biotechnology can enhance the quality of human life. Although I am not a biologist, I can make an impact with funds.

Host:Let’s talk about cryptocurrency. Are you still passionate about it?

Zhao Changpeng:Absolutely. I believe the internet, blockchain, and artificial intelligence are the three most critical technologies of our efficient contemporary era. Blockchain is the technology of currency, and we need a freer, more global currency.

Host: What do you think will be the killer application of blockchain?

Zhao Changpeng:We need to redefine what a better currency is. In the past 15 years, cryptocurrencies have been heavily suppressed by the government, and only in the last year and a half has America begun to support them genuinely. Many applications were aborted before they could accumulate. I think "proxy currency" is about to come. In the world of artificial intelligence, everyone will have hundreds of proxies, and there will be a billion proxies globally doing microtransactions, which will create an unimaginably huge economy.

Host: What currency will these proxies use?

Zhao Changpeng:It will definitely be blockchain. It could be the secondary network of Bitcoin or Lightning networks, which have network effects and are not state-controlled. On the other extreme, if AI companies launch their own blockchain or tokens, it will be highly centralized. Protecting the AI revolution is of great significance, as AI proxies need to conduct automatic transactions, and without blockchain, none of this can be realized.

Host:Do you think cryptocurrency is undervalued right now?

Zhao Changpeng:Undervalued to an absurd extent. If it is the trajectory of future financial transactions, and the financial market is going to grow a thousandfold, the current $2 trillion in this asset class is clearly too small. The future economic scale will be a thousand times that of now; the underlying value index must grow. If we become an interstellar species in the future and trade on Mars, we won't need to rely on the currency of Earth's credit system.

Investment Philosophy and the Ultimate Definition of Money

Host:How does your investment company, Easy Labs, operate? What kind of founders are you looking for?

Zhao Changpeng:I am now an investor and mentor. I am looking for very fundamental things: having a product, having revenue, of course; but prior to that, I emphasize whether the team is strong and harmonious. I focus particularly on two points: technical capability and mission-driven. If you just want to make money, you won't become the greatest company. What I find are those who can do this even without better money.

Host:As a partner, what can you offer founders?

Zhao Changpeng:In addition to funding, we also have a simple, vast user community, as well as professional advice on token economics, unlocking plans, and market-making connections. For cryptocurrency projects, especially those related to trading and wallets, I can provide a lot of specific advice.

Host:What is your current relationship with Binance? Can't you operate Binance anymore?

Zhao Changpeng:I am still a shareholder and will participate in matters that affect shareholder rights, but I don't spend much time on it. Regarding whether I can resume operations, there are some legal opinions on that. Currently if I do this, I would have to go through lawyers. Obtaining a pardon is very important; otherwise, as a felon I cannot obtain financial licenses around the world.

Host:How did you obtain a pardon from President Trump? Was there a monetary exchange behind it?

Zhao Changpeng:Absolutely no trade; my lawyer emphasizes this. I submitted a petition; my case was very persuasive because the U.S. wants to become the cryptocurrency capital, and I am the only one imprisoned for BSA. Competitors have indeed lobbied against me to try and prevent me from obtaining a pardon, but it may have increased my visibility.

Host:If you could go back in time, what would you change?

Zhao Changpeng:Aside from spending more time with family, it is very simple from a business perspective. If I could do it all over again, I would build two completely independent platforms from the start: Binance U.S. and binance.com, and ensure the U.S. platform was compliant. Even if I would earn 30% less profit, it could completely avoid the troubles I face now. At that time, there was no clear regulatory framework; everyone was exploring like cowboys. Now I understand how strong the retroactive nature of U.S. law is.

Host:Are you more cautious in tweeting now? How is your relationship with money now?

Zhao Changpeng:I will think twice, but I won't have all tweets reviewed by lawyers. I will now hire more lawyers to handle business affairs. Regarding money, I am still a modest billionaire. I wear Skechers shoes that cost between $50 to $100, a fashion watch, and pants that are basic from Amazon. I don't have the money that I believe can make you happy. After surpassing a certain exemption (for instance, $50 million), the change that comes with it will fade away.

Host:How do you define "enough" money?

Zhao Changpeng: Ten million dollars achieve freedom; over 100 million becomes meaningless. If you are obsessed with obtaining happiness through financial wealth, you are destined to be unhappy. Health is the most important; a single injury or illness can turn you from a billionaire to having nothing.

Host:How do you want to be remembered?

Zhao Changpeng:I value legacy; I just hope that when I am on my deathbed, I feel that I have done my best to contribute to the world, leaving it a bit better than when I came.

Host:What do you think of Elon Musk?

Zhao Changpeng:I have a theory; Elon doesn’t care about money at all; he is an alien who wants to return to his home planet. Tesla, SpaceX, solar energy, robots, all are to survive further away on Mars. Mars is just his stepping stone. Although it's a joke, it makes sense logically. I have never met him in person; we occasionally text, but everyone is too busy, and we only connect when something important arises.

Host:It’s great to see you. I'm glad we could spend time in such a secret place.

Zhao Changpeng:Thank you for the invitation.

Article link: https://www.hellobtc.com/kp/du/05/6314.html

Source: https://www.youtube.com/watch?v=2X5P6jJhQcc