CZ’s “Freedom of Money” Book Revives China’s Ugliest Crypto Feud

Binance founder Changpeng Zhao (CZ) launched his 457-page memoir “Freedom of Money” on April 8. The book has already triggered a public war of words with OKX founder Star Xu. The autobiography covers CZ’s journey from rural China to building the world’s largest crypto exchange. However, its most explosive claims involve fellow Chinese crypto titans, including Huobi founder Li Lin and Tron (TRX) founder Justin Sun. The Roots of a Decade-Old Rivalry CZ joined OKCoin, the predecessor of the OKX exchange, as Chief Technology Officer in mid-2014. His tenure lasted less than a year. According to the memoir, CZ left in early 2015 after Star Xu attempted to renegotiate the 10% equity stake CZ held in the company. The departure was not clean. A bitter contract dispute erupted shortly after, centered on the management of the Bitcoin.com domain name. CZ had brokered a deal between OKCoin and early Bitcoin (BTC) investor Roger Ver. Ver entrusted the domain’s operation to the exchange in return for monthly payments. Two versions of the contract existed. Ver and CZ both claimed OKCoin had forged a modified version adding a six-month termination clause. Xu blamed CZ for the forgery. I have cryptographic proof of @OKCoinBTC forging my signature onto a fake contract, and then trying to present it as the truth. More soon…— Roger Ver (@rogerkver) May 23, 2015 That 2015 feud drew in Ver, who sued OKCoin for $570,000. It also saw CZ publicly accuse OKCoin of inflating trade volumes with bots and manipulating a proof-of-reserves audit. Xu fired back by questioning CZ’s credentials and accusing him of deceit. The dispute eventually faded, but neither side forgot. From Old Grudges to New Allegations In “Freedom of Money,” CZ revisits the 2020 Chinese regulatory crackdown that shook the country’s crypto industry. He describes OKCoin announcing an indefinite suspension of withdrawals on October 16, 2020. Star Xu was reportedly placed under “soft detention” by Chinese police. Xu was releas...