Changpeng Zhao’s ‘Freedom of Money’: A 26-Page List of Questionable ‘Principles’

Changpeng Zhao (CZ), the founder of Binance, has released an autobiography titled Freedom of Money. The book is widely regarded as poorly structured and difficult to read, with critics noting that its disorganized presentation becomes apparent within the first few sentences. Despite its flaws, the book has been read in full by at least one reviewer—who nearly abandoned it after 270 pages—only to discover that the appendix was not an appendix at all, but a 26-page list titled “CZ’s Principles.”

The contents of this list have sparked significant debate. Rather than offering clear, actionable principles, the list reads as a mishmash of opinions, statements of fact, and questionable advice. Many of the entries do not qualify as principles at all, instead functioning as personal observations or assertions. For example, CZ suggests that individuals should prioritize having many friends, yet admits to maintaining only a select few due to time constraints. He also claims that Binance is the most global organization in the world, operating at an unprecedented scale in terms of user base, team, and mindset.

The list includes several statements that critics argue are contradictory or culturally insensitive. For instance, CZ notes that definitions such as “money laundering” vary by jurisdiction—citing China’s $50,000 annual threshold as an example—while also making sweeping generalizations about cultural norms, such as the legality of polygamy in some regions. These entries do not align with traditional definitions of principles, which typically provide consistent, actionable guidance.

CZ’s so-called principles also include contradictory financial advice. He repeatedly emphasizes that time, not money, is the most limited resource, discouraging a focus on wealth accumulation. However, he later contradicts this stance by stating that “money shouldn’t be an unlimited supply asset,” leaving readers confused about his actual views on money and its role in business.

Critics have also pointed out that some of CZ’s statements in the book have drawn controversy in the past. For example, he has previously been accused of being a “habitual liar” by the founder of Huobi, and his claims about Binance’s operations have faced scrutiny from regulators, including a U.S. Senator who questioned whether Binance misled Congress regarding its dealings in Iran.

Had CZ employed a professional editor, many of these inconsistencies and issues might have been addressed. However, the book’s final form reflects a lack of editorial oversight, leaving readers to sift through a disjointed collection of opinions and assertions.