CZ's Latest Interview: From McDonald's to the Pinnacle of Crypto—My Journey Can Be Replicated by Anyone

Original video title: DC Blockchain Summit 2026 Day 2

Original video source: DC Blockchain Summit

Original compilation: WuBlockchain

In a remote interview at the DC Blockchain Summit, Binance founder CZ and Perianne Boring, founder and board chair of The Digital Chamber, reviewed the crypto industry's development over the past decade: from being ignored in its early days, then facing strong regulatory and public opinion pressure, to now gradually gaining regulatory clarity in the US, institutional adoption, and mainstream recognition. Drawing from his upcoming memoir, he discussed how his personal journey mirrored the industry's growth trajectory, emphasizing that technological innovation will ultimately propel the sector into the mainstream.

The conversation also focused on media narratives and legal disputes. CZ believes some traditional media outlets (like The Wall Street Journal) have long engaged in one-sided or even inaccurate reporting about him, Binance, and the crypto industry. He noted that recent US federal court dismissals of related lawsuits show the judicial system relies more on evidence than public opinion. Discussing the US market's prospects, he affirmed the current administration's support for the crypto industry and pointed out that for the US to truly become the "global crypto capital," the key is not just friendly policies but also more robust market competition, lower transaction costs, and a stronger liquidity foundation.

PS: The audio transcription was completed by GPT and may contain errors. Please watch the original video on YouTube. (Starts at 56:48)

Reflecting on Over a Decade of Digital Asset Industry Development

Perianne: In a way, I feel some of the challenges we wanted to solve back then still exist today. But even so, especially in Washington, we have indeed made a lot of progress. Looking back at the digital asset industry's development over the past 10, 12, 15 years, what are your thoughts? How would you measure the industry's success and how far we've actually come?

CZ: Absolutely. I've been doing a lot of reflection and looking back recently because I've been working on that "torturous" book, which is expected to be published in a few weeks. I think we met about 12 or 13 years ago.

I still vividly remember the 2014 Chicago Bitcoin Conference, where you spoke on a panel right before me. You were talking about BitLicense. That topic was very hot at the time, and by the time I got on stage, the audience was almost entirely captivated by your session. That moment is particularly clear in my memory.

Back then, an industry conference might have had around 200 people. Today, depending on the location, it's easy to reach 5,000 or even 10,000 attendees.

Back then, Vitalik was only 19, just talking about Ethereum. Today, Ethereum has grown into an asset worth hundreds of billions of dollars. So in my memory, the industry has indeed come a long way from around 2013 to now.

For the first five years, we were basically ignored. For the next five years, we faced a lot of resistance; there were indeed forces working against us. And now, we are finally starting to be accepted.

Now we see the US taking a leading role globally in crypto regulation, with policy clarity improving day by day. Just in the last couple of days, we've seen more clear signals from the US SEC. This is tremendous progress.

So now, we are finally moving towards the mainstream, and institutional adoption is increasing. The journey has certainly had its ups and downs, but the industry has indeed made it this far.

Writing a Book in Prison: CZ Wants the World to See the Real Him

Perianne: There's no doubt about that. Especially yesterday on this very stage, we heard news about progress in the regulatory environment, which was very encouraging. Only with a clear legal framework can businesses truly build and operate in the US market, and investors can participate with greater peace of mind.

You mentioned your book. It's no "silly book." I know it's coming out soon, and you were kind enough to give me an advance copy, which I've finished reading. It's a memoir, and I must say, it's an incredibly compelling story, very engaging to read.

Even though I've known you for many years, I got to know you more deeply through this book. You shared a lot about your personal life and showed me the difficulties you've faced on both personal and professional paths. What touched me the most was that, despite everything, you've always maintained your principles and never lost your true self. You've always struck me as a very genuine person, not pretending to be someone else for anyone. Whether before Binance, before Bitcoin and crypto, or up to today, you've always been the same CZ. So, why did you decide to write this book? Could you share more about the motivation behind it and what you hope people will learn about you from reading it?

CZ: Of course. I started writing this book while I was in prison. I didn't have much to do, and I thought this project would at least keep me occupied.

But at the same time, I began to seriously reflect on my life. I'm actually just an ordinary person, but my life experiences have been like a rollercoaster, somewhat unique in a way.

I came from a rural village in China and later built one of the world's leading crypto technology companies. There was certainly luck involved, and a lot of hard work, but ultimately, I'm still an ordinary person. I worked flipping burgers at McDonald's when I was 14 for $4.50 CAD per hour. So I've always felt that anyone could walk the path I've walked and achieve what I've achieved.

Through this book, I hope, first, to let people know me better; second, to hopefully give more entrepreneurs, especially young entrepreneurs, some courage and inspiration from my experiences. So what I want to convey is: I'm an ordinary person, but my story might not be so ordinary.

Why Negative Narratives About Crypto Haven't Stopped

Perianne: That is truly a remarkable precedent. Coming from a very ordinary background in rural China, you ultimately founded, launched, and successfully operated one of the largest companies in the industry. That's incredibly inspiring. I believe this story will continue to resonate with many people for years to come and inspire children worldwide, showing them that with hard work, determination, and a focus on education, they can accomplish great things and change their own destinies. I think you embody that spirit.

And I believe your personal journey actually mirrors the development of the crypto industry, Bitcoin, and digital assets very well. We all came from very early, very humble beginnings. You and I both experienced the industry's earliest days. When the entire asset class was just starting, it faced intense scrutiny and skepticism. That's why we founded the Digital Chamber back then, because there were so many concerns, criticisms, and regulatory actions surrounding this space, with many forces trying to kill Bitcoin.

I specifically say Bitcoin because back then, there was almost only Bitcoin. There wasn't the later proliferation of crypto assets and other digital assets. Everything started from there. It's just that today, we've become a larger community.

But a core issue we wanted to address back then was that, after Silk Road and Mt. Gox, the media kept declaring "Bitcoin is dead." But it didn't die. Even today, they're still saying it, which is, of course, chaotic, wrong, and not factual. At the same time, the media kept pushing a narrative that this technology was only suitable for illicit finance, that it was the currency of choice for criminals. And these arguments still resurface today.

So let's talk about the media and today's headlines. Many headlines are almost identical to what we saw 10, 12 years ago—the same playbook, the same narrative.

Personally, I think it's clear that there are forces deliberately pushing a specific narrative, spreading misinformation with the goal of slowing down the industry and suppressing innovation in the digital asset space. Even today, despite seeing a crypto-friendly Congress, even bipartisan attention to crypto issues, and the first US President openly supportive of the industry, there are still strong forces trying to suppress it, and a large part of that happens at the media level.

And many of the attacks are focused on you. Of course, not just you, others too. But as someone who has known you for a long time, when I see what's said about you externally, I feel a strong sense of disconnect because I know much of it is simply inaccurate. What do you think is the biggest misconception the media has about you? For those who haven't had the chance to meet you or truly spent time getting to know you, what is the thing they understand the least about you?

CZ: Of course. First, I think the media itself is divided. Crypto industry media actually understand me because I've spent a lot of time communicating on Twitter. But I haven't engaged much with traditional media, which might be one reason for the misunderstandings.

We also know there are one or two traditional journalists whose career paths seem to be built on continuously writing negative stories about the crypto industry, about me, about Binance, and even about the current administration because they support crypto. I don't engage much in US politics, but we have indeed seen public declarations of a so-called "war on crypto." In my view, there's clearly a partisan element to this. The US political system is built on two opposing forces, so one side instinctively attacks what the other side supports.

And at this stage, the negative narratives around crypto have become more complex. I've heard arguments that some US-based participants might be worried about competition from Binance entering the US market, so they push opposition behind the scenes. They are also influenced by lobbying from traditional banking, for example, around issues like stablecoin interest rates. There are many different interest groups intertwined here, leading to various media narrative angles.

I'm not a media expert, but I always focus more on the technology itself. I think it's very clear that this technology is revolutionary and will become a fundamental part of the future. So no matter what the media says, I think they've been wrong about many things, for various reasons.

For me, I haven't spent enough time communicating with traditional media. Maybe that's something I should do more of in the future. But it's not my expertise. My expertise has always been building platforms that people actually use. Now, even though I'm no longer managing Binance, I'm still helping more entrepreneurs do similar things through investments, mentoring, etc. That's what I'm mainly focused on.

As for media narratives, I believe they will eventually change over time. Especially as crypto adoption continues, there will come a day when crypto becomes mainstream. At that point, other things will become the fringe, and the narrative will naturally have to change.

CZ: Many Things Said About Me Are Simply Untrue

Perianne: I think maybe you should indeed spend a bit more time with those journalists who are always writing about you but often publish things I know aren't true. Anyone who has spent real time with you, I think, can clearly feel that you are not only generous but also a very kind person.

I remember a small detail from over the years. I saw you at an event once, and someone was standing next to you. A gust of wind blew a plastic piece off his coffee cup lid. It hit you first and then fell to the ground. So there was a piece of someone else's litter right in front of you. Yet you specifically bent down, picked up that piece of trash, and helped dispose of it, all while smiling, very naturally and gently.

I think that really speaks to your character. How a person handles the most ordinary daily小事 and treats ordinary people around them often reflects how they conduct themselves professionally and in life. I believe this is precisely the aspect of your personal image that is most easily misunderstood by the outside world.

CZ: Thank you for remembering such a small detail. I vaguely remember it myself but can't recall which specific event it was. But thank you for bringing it up.

Going back to your earlier question, I actually momentarily forgot the main point. Some of the things the media says about me now are completely false.

For example, Forbes tried to portray me as someone who has become wealthier in the past six months, which is simply impossible. I don't even know how they calculated that.

Then there are reports like those in The Wall Street Journal, describing me as if I were trying to assist Iran-related terrorist financing activities. I have zero interest in that. I currently live in a country that is under attack by Iran, so the claim itself is absurd. Not to mention, even before that, I would never have been interested in such things.

And I can say very clearly that no trading platform, no legitimate business, would want to touch such things because there's simply no benefit. It's just a tiny bit of transaction fees, completely not worth it.

So the logic of these narratives is basically the same: they latch onto any negative point and try to launch an attack. There are indeed many misunderstandings out there. As for the motivations behind these attacks, I can understand them to some extent because different people have different positions and goals.

But the problem is, the way they launch attacks is often based on completely wrong, baseless information. I hope this situation will slowly change in the future.

However, I believe the truth will eventually surface. We've already seen that truth emerges in court through evidence, and what they rely on is not evidence. This process is already happening.

Judicial Rulings Reflect Unfair Media Allegations

Perianne: Let's talk about that, and thank you for bringing it up. The core narrative about this technology and the entire industry has always been that the only use for Bitcoin and crypto technology is to be a tool for illicit finance. Now, this narrative is constantly projected onto you personally and the company you founded, like Binance. There have been many related allegations in the media recently.

But as you just mentioned, these matters have actually entered the court system. Perhaps you could talk about the status of these cases. You recently achieved a very significant victory. I also find it a bit strange that the media and journalists who have been highly focused on you, Binance, and the so-called "illicit finance" issue always provide blanket coverage when negative narratives emerge; but once you or Binance make progress in a case, they suddenly go silent, not updating the follow-up at all.

And these developments are actually very crucial but have hardly been widely reported. So why don't you directly tell everyone what's happening now. Because from the court's perspective, judgments based on facts and evidence clearly don't always align with the image the media tries to塑造 about you andBinance.

CZ: Of course. First, a disclaimer: I'm not a lawyer, so what I say next might not be legally precise, just based on my personal understanding.

I personally, and Binance, sometimes including Binance US, have been sued together, with allegations related to terrorist financing. They usually name all three of us as defendants. I believe these cases fall under ATA cases, a type of lawsuit related to counter-terrorism. They try to link these cases to my 2023 plea agreement with the US government, while also piecing together media content to construct the narrative they want as much as possible.

But the court ultimately relies on evidence. Just in the past two weeks, two US federal courts have dismissed these cases. The judges essentially said the plaintiffs submitted a 900-page document but didn't provide real evidence. I recall the court used phrases like "lengthy and unnecessary." That is, they just wrote 900 pages, over 3,000 paragraphs, trying to strengthen their argument by piling on content, but didn't present substantive evidence.

So honestly, I'm actually very grateful for the US court system. I think the US judicial system is well-designed overall; it's independent and values evidence. The media can write all sorts of negative narratives, but the court looks at evidence, and in the end, the court dismissed these cases twice. This has happened twice in the past two weeks in two different US courts, which speaks volumes.

But as you said, the mainstream media has almost no coverage of this. From that, you can clearly see how biased they are.

For me, the matter is actually very clear. I just hope more people can see this. Unfortunately, there is still a significant portion of people who only follow so-called traditional media, and this does affect their perception and judgment of us. That's a pity. We can only continue to make more efforts to correct these biases.

Keys to US Crypto Competitiveness: Competition, Liquidity, and Infrastructure

Perianne: Yes, I think your statement was quite restrained and gracious. But I agree with your assessment. We are in the US, attending the DC Blockchain Summit, and the core theme of this event is, of course, changes in policy and regulatory frameworks. I know you're not keen on commenting on US politics, but the US now explicitly wants to become the "global crypto capital," a direction pushed by the current administration. You have also publicly stated your support for this goal.

So, what does the US need to do to remain competitive in this field? Over the past few years, there have been forces trying to push this industry out of the US, force it overseas, and they were somewhat successful in that. How should we maintain a competitive environment where digital asset investors and businesses are willing to continue operating and developing in the US?

CZ: Of course. First, I think the current US administration has actually done an excellent job. As you said, the previous administration basically pushed many entrepreneurs, startups, and innovators outside the US. I've seen many people go to the UAE, like Abu Dhabi, Dubai, some to Singapore, even to Hong Kong and other places worldwide.

But recently, we've started to see a trend reversal: these