Binance founder CZ recently shared his first-hand experience of serving four months in a U.S. prison during an interview with Farokh Sarmad. He candidly described this "not fun" and "extremely difficult" period of incarceration, which prompted him to reconsider life's priorities and gain deeper insights into health and family.
For this crypto billionaire, this experience was undoubtedly one of the most significant turning points in his life.
CZ's Prison Experience
As background, CZ admitted to violating anti-money laundering regulations and, as part of a $4.3 billion settlement with U.S. authorities, was sentenced to four months in U.S. prison and forced to resign as Binance CEO in 2024.
Recalling his initial prison entry, he described it as "not fun", seeing tattooed, muscular inmates shouting at each other, which he found "scary". Especially the strip search process upon entry, he frankly admitted was "extremely difficult", stating he "would not wish it upon anyone", and the experience was initially filled with reluctance and resistance.
Not Treated Differently Due to Identity
As a non-U.S. citizen, CZ was not placed in the lowest security prison but in a low-security facility. His cellmate, who was there for good behavior, had previously been sentenced to 30 years for murdering two people. Despite this, CZ coexisted with him for several weeks without issues.
CZ claimed he was not specially treated due to his crypto status or billionaire identity, stating "everyone in prison was nice". However, he mentioned being "centrally monitored", meaning staff needed special consideration when handling his matters. Nevertheless, he maintained contact with several prison friends, demonstrating that human compassion exists even in extraordinary circumstances.
Mental Challenge is a Heavier Burden Than Physical Hardship
For CZ, the most challenging aspect of prison was mental stress. He constantly worried that his four-month sentence could be extended due to unforeseen new charges. He observed similar uncertainty among other inmates, which brought a heavy psychological burden.
Through this experience, he deeply realized that longing for family and craving freedom were more profound torments than material comforts like high-quality food or comfortable beds.
Reshaping Life Priorities
His imprisonment experience led to a new understanding of "what is important". He clearly stated, "Health is most important, followed by family. Work and other things come after." This experience fundamentally changed his life perspective, prompting him to reposition work and life priorities.
Notably, his attitude towards previously calling FTX founder Sam Bankman-Fried a "psychopath" seems to have softened. After experiencing prison life, he expressed not wanting anyone to suffer prison's pain, while believing "bad behavior must stop". He also indirectly criticized the U.S. prison system's lack of rehabilitation, believing long-term imprisonment is usually ineffective.
CZ's Future Outlook
Looking forward, CZ mentioned an upcoming book that will detail his prison experience. He is currently actively involved in education and investment, having established Giggle Academy and YZi Labs. He reaffirmed he will not return to Binance's leadership, stating that chapter is closed. His prison experience undoubtedly profoundly influenced his current life attitude, allowing him to start a new chapter with a more introspective and cautious approach.
CZ's prison experience is undoubtedly a crucial turning point in his tumultuous career. From a crypto mogul to being imprisoned, to now reflecting calmly.
This painful yet profound experience not only gave him a new understanding of freedom but also helped him clarify life's most precious things. Health and family are now prioritized, and his reflections on the prison system and new understanding of personal responsibility suggest that the former Binance leader is embarking on the next chapter of his life with a more introspective and cautious attitude.
