Trying to make a comeback after his debacle debate with Peter Schiff at the Binance Blockchain week, Changpeng ‘CZ’ Zhao, the enigmatic former CEO of Binance, decided to bare it all and have an unfiltered conversation with the packed hall at Bitcoin Mena Conference in Abu Dhabi.
Fresh off a presidential pardon and now touted as the crypto whisperer because of his role as advisor to many governments, CZ shared tales of his jail time, regulatory warfare, and his unwavering pitch for global crypto adoption.
CZ vs. Schiff’s viral moment
After explaining to the host his decision to spare gold bug Peter Schiff, CZ revealed his intention was to use Schiff’s recently launched tokenized gold token as bait. “The more he gushed about blockchain’s efficiencies, the more he had to admit its superiority over dusty bullion. I just kept looping back: “So, you like tokens better than gold?’ The clip exploded online. “It was fun… almost like viral gold. Pun intended,” CZ quipped.
CZ’s prison tales
Zhao went on to recount his 4-month imprisonment, where he was made the prime target for “Operation Chokepoint 2.0.” he said that Binance’s exponential growth made it easier for them to come under regulatory scrutiny. “There was no precedent, no playbook – just us out front, eating the scrutiny.” He had never seen anyone go to jail for a single banking secrecy violation before, but he had to do it; otherwise, they would go after many others in Binance and the crypto industry. “As long as I could tweet, I’d survive,” he said. But prison shattered that illusion, no Wi-Fi, just echoing uncertainty. “The scariest part was not knowing if it was a slap on the wrist or life in the shadows.”
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Then came the pardon, which was a thunderbolt from President Trump’s desk. CZ described it as a “pure emotional moment.” His first reaction to safety. “Relief. Justice. Finally, America feels fair again, the land of the free, for real.”
Post-prison CZ has become a globe-trotting crypto evangelist, teaching governments on the ‘how’ and not ‘why’s of crypto. Speaking of which, he said that “there was a lot more work to do,” and he plans to do that through the Giggle Academy. This is a gamified, free edtech platform that has schooled 98,000 kids in a year on a budget of barely $2-3 million. But donations have come pouring in, getting ~$11 million in a month, and as CZ puts it, “I’m getting back much more than I invested in.”
CZ or Saylor, who’s the bigger BTC bull?
Regarding the widespread adoption of Bitcoin and its potential future inflows, CZ described it as a transformative tool that has transitioned from a once-failed payment concept to its current status as a dominant ETF. “ICOs? NFTs? DeFi summers? Total curveballs.” Institutional inflows this cycle thrill him; he sees them bridging the grassroots grit and bringing in the Wall Street capital. However, he suggests that it’s better to consider the 4-year cycle dead and that we may be experiencing a ‘super cycle’ instead.
So will he be remembered as crypto’s ultimate sales guy? CZ said, “I want to look back and say, ‘I did my best. I left the world a tad brighter. I want to be remembered as the guy who increased crypto adoption.” When asked about who is a bigger BTC bull, CZ or Michael Saylor? He said, “It would have to be B, as Saylor is more focused on Bitcoin,” whereas he wants to support innovation. “Invest in innovation; measure the success of Bitcoin; if you can outrun it, then that’s true success. Otherwise, just buy Bitcoin.”
