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Changpeng Zhao (CZ), the founder of Binance and one of the most influential figures in the cryptocurrency world, made striking statements on a wide range of topics in a program he participated in, from his time in prison to the future of Bitcoin, his famous dialogue with Sam Bankman-Fried, and the concept of financial freedom.

In an interview given to promote his new book “Freedom of Money,” CZ discussed the industry’s past and future.

CZ stated that it is wrong to view cryptocurrency solely as an investment vehicle whose price is increasing. Describing the technology as “the internet for finance,” CZ argued that the fundamental goal of blockchain technology is to increase financial freedom.

He stated that he doesn’t see a war between traditional finance (TradFi) and crypto, but rather that the technology will eventually integrate into the entire financial system. He specifically attributed the change in opinion regarding crypto, particularly among figures like Larry Fink (CEO of BlackRock), to the inevitable adaptation of the technology.

One of the most striking parts of the interview was his conversation with FTX founder Sam Bankman-Fried (SBF) before the collapse. CZ described SBF’s attitude when he called to ask for billions of dollars in aid as “bizarre.” CZ said, “If you ask someone for billions of dollars, you have to have a definite figure. But he first said 2 billion, then 6, then 4 billion. This showed me that he didn’t know what was going on either.”

Speaking about his four-month prison sentence for violating the Bank Secrecy Act, CZ said the experience made him a more humble person. He mentioned that while in jail, he missed human relationships and his health the most, and that he cried when he was forced to step down as CEO of Binance, but now the situation has opened new doors for him.

CZ stated that he currently has no plans to return to managing Binance, saying the current team is doing a great job, and that he spends his time coaching other entrepreneurs and dealing with investments.

When asked about the identity of Bitcoin founder Satoshi Nakamoto, CZ responded, “I don’t know, and I think it’s better that we don’t know.” He argued that Nakamoto’s anonymity makes Bitcoin more decentralized and protects its founder from potential legal targets.

*This is not investment advice.

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