Binance founder and former CEO Changpeng Zhao (CZ) recently spoke in detail for the first time about his prison experience in an interview with Rug Radio's Farokh Sarmad. He admitted that "this period was very scary and extremely difficult", but it also brought him closer to his family.
Four months imprisonment
CZ previously pleaded guilty last year to violating U.S. anti-money laundering laws, and a $4.3 billion settlement was reached between him, Binance and U.S. authorities, as a result of which CZ resigned as CEO and was sentenced to four months in prison. CZ said in an interview:
"When I first walked in, I saw a room full of tattooed guys with tattoos all over their faces and heads. Everyone was shouting and it was really not fun,"
CZ described the body search upon entry into prison as "extremely embarrassing" and admitted, "I don't want anyone to go through this."
Fear and unexpected friendship in prison
Since CZ is not a U.S. citizen, he cannot be placed in a minimum-security prison and is instead sent to a low-security facility. And his first roommate was a felon serving a 30-year sentence for a double murder. Changpeng Zhao described:
"My roommate was in prison for murdering two people, but he was allowed to live in a low-security facility for good behavior. I lived with him for a few weeks and we got along well."
He also mentioned that despite being a well-known figure in the cryptocurrency community and having huge wealth, he did not receive special treatment from other prisoners. "Everyone is actually very friendly. I even keep in touch with several of them. There are good people everywhere."
Mental stress and life reflection
CZ said the hardest part for him was the psychological pressure and the fear that his sentence might be extended by other unexpected charges. "I saw other friends in there being suddenly charged with additional charges, and it was really scary."
This experience also made him realize that the most important thing is health and family, followed by work and other things. CZ revealed that his upcoming book will further share this prison experience.
Softening attitude towards SBF
Talking about his former "opponent", SBF, the founder of FTX who was sentenced to 25 years in prison, CZ said that his views on long-term imprisonment have changed.
"I don't want anyone to go through jail time. But the bad behavior has to stop."
But CZ believes that long-term imprisonment does not do much to correct bad behavior, and those sentenced to 10 years usually begin to regard prison life as the norm and no longer think about reforming.
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