The New York Times obtained and reported on a nearly 300-page draft of former Binance CEO Changpeng 'CZ' Zhao's unpublished memoir, titled 'Freedom of Money'. The manuscript details secret negotiations with the U.S. Department of Justice that led to a $4.3 billion settlement for Binance, down from an initial DOJ demand of $6.8 billion. CZ pleaded guilty to a single count of violating anti-money-laundering laws and served a four-month prison sentence.
The draft also reveals personal anecdotes, including CZ's brief detention by Immigration and Customs Enforcement (ICE) after his release, an offer of an advisory role to former SEC Chair Gary Gensler, and his recollections of FTX founder Sam Bankman-Fried's request for billions during the 2022 crisis. It contains passages defending former President Donald Trump, who pardoned CZ in the fall of 2025. Notably, the manuscript omits details about CZ's pardon campaign and Binance's business ties with the Trump family's crypto venture.
In response to the NYT report, CZ framed it as 'free advertising' for his upcoming book, noting the paper had obtained a very early draft without permission. His lawyer, Teresa Goody Guillén, stated the NYT was writing based on material not in the final book. CZ is self-publishing the memoir simultaneously in English and Chinese, with all proceeds going to charity. Publication, initially expected in the coming weeks, may be delayed as editing continues.
The crypto community on X largely echoed CZ's sentiment, treating the critical report as promotional. The buzz also spawned a memecoin named 'Freedom of Money', which surged to an $8.3 million market cap. On-chain analysts identified wallets that turned an $8,600 investment into $781,000 in unrealized gains ahead of the report. CZ had preemptively denied any connection to such tokens.
