Founder of Cryptocurrency Exchange Binance, Zhao Changpeng (CZ), Shares His Experiences of Four Months in Prison
In a recent interview, Zhao Changpeng (CZ), the founder of the world’s largest cryptocurrency exchange Binance, openly shared his real experiences during his four-month incarceration in the United States. He candidly described this period as “not fun” and “extremely difficult,” prompting him to rethink his priorities in life and deepening his understanding of health and family. For this billionaire who has made waves in the cryptocurrency sector, this ordeal undoubtedly marks one of the most significant turning points in his life.
CZ’s Experience Behind Bars
As background, Zhao Changpeng was sentenced to four months in U.S. prison in 2024 after admitting to violating anti-money laundering regulations as part of a $4.3 billion settlement agreement between Binance and U.S. authorities. He was also forced to resign as CEO of Binance. Recalling his initial days in prison, he described it as “not fun,” noting that he saw tattooed, muscular inmates shouting at each other, which felt “intimidating.” The particularly challenging experience of being strip-searched upon entry was described as “extremely difficult,” expressing that he “would not wish this on anyone,” as it was fraught with reluctance and resistance from the start.
No Special Treatment Due to Status
Because Zhao Changpeng is not a U.S. citizen, he was not placed in a minimum-security prison but served his sentence in a low-security facility. His initial cellmate was housed there for good behavior, despite having been sentenced to 30 years for the murder of two individuals. Nonetheless, Zhao Changpeng reported that he got along well with his cellmate during their weeks together. He claimed that he did not receive any special treatment in prison due to his cryptocurrency status or billionaire identity, stating, “Everyone in prison was nice.” However, he also mentioned that he was under “centrally monitored” conditions, meaning that staff had to take special considerations when dealing with matters concerning him. Still, he maintained contact with several friends from prison, illustrating that even in such an environment, the brilliance of humanity remains present.
The Mental Strain is Heavier than the Physical Burden
For Zhao Changpeng, the most challenging aspect of prison was the mental pressure. He constantly worried that his four-month sentence could be extended at any moment due to new, unforeseen charges. He observed that other inmates also faced similar uncertainties, and this sense of the unknown created a heavy psychological burden. Through this experience, he came to realize that, compared to material comforts (like gourmet food or comfortable beds), the deep longing for his family and the desire for freedom were far more profound sources of anguish and exhaustion.
Reconstructing Life’s Priorities
His prison experience offered him a new understanding of “what is important.” He clearly stated, “Health is the most important, followed by family. Work and other matters come next.” This experience fundamentally changed his worldview, prompting him to reassess his priorities in work and life. Notably, his previous harsh comments regarding FTX founder Sam Bankman-Fried (SBF), whom he referred to as a “mentally ill person,” appear to have softened. After experiencing prison life, he expressed that he would not wish anyone to endure the suffering of incarceration, yet he believes that “bad behavior needs to stop.” At the same time, he indirectly criticized the U.S. prison system for its shortcomings in rehabilitation, arguing that long-term imprisonment often yields little benefit.
CZ’s Future Outlook
Looking ahead, Zhao Changpeng mentioned that his upcoming book will describe his prison experiences in greater detail. He is currently actively engaged in education and investment, having established the Giggle Academy educational platform and YZi Labs. He reaffirmed that he would not return to a leadership role at Binance, stating that that chapter is over. His prison experience has undoubtedly had a profound impact on his current attitude toward life, allowing him to approach the next chapter with a more introspective and cautious stance. Zhao Changpeng’s prison experience is undoubtedly a significant turning point in his remarkable career, transitioning from a prominent figure in the cryptocurrency realm to being incarcerated, and now reflecting on it with newfound calmness.
This painful yet profound experience has not only given him a new understanding of freedom but has also helped him clarify the most precious aspects of life. The importance of health and family has been prioritized, and his reflections on the prison system, along with a new awareness of personal responsibility, hint that this former Binance leader is embarking on the next chapter of his life with a more reserved and prudent demeanor.
