⭐️ CZ releases a book about Binance
Binance founder Changpeng Zhao has released a book called Freedom of Money.
He wrote part of it while serving his prison sentence in the U.S.
In the book, he shares behind-the-scenes stories from the crypto industry — from the launch of Binance to the collapse of FTX.
Here are some of the most interesting moments:
🔥 Binance almost failed in its first minute
When trading opened, almost all BNB orders were sells. The price started dropping immediately.
🔥 CZ sold his apartment to buy Bitcoin
Before Binance, he sold his apartment in Shanghai and put the money into BTC when the market was widely considered dead.
🔥 Binance was a major investor in FTX
The exchange once owned about 20% of FTX, which was later bought back for roughly $2B.
🔥 One tweet triggered the FTX collapse
After CZ announced Binance would sell its FTT holdings, users withdrew around $6B within days.
🔥 Binance almost bought FTX
During the crisis, CZ announced a deal to acquire the exchange — but backed out after reviewing its balance sheet. FTX filed for bankruptcy the next day.
🔥 Binance survived a massive bank run
When U.S. investigations began, users withdrew about $7B in a single day — and the exchange held up.
🔥 Binance became a “company without a country”
After China banned crypto exchanges, Binance began moving between jurisdictions and effectively operated without a headquarters.
🔜 Read the full book