The crypto world just got a fresh dose of drama, and it’s served up with a side of literary ambition. Binance founder Changpeng “CZ” Zhao’s new memoir, “Freedom of Money,” isn’t just a retrospective; it’s seemingly a gauntlet thrown directly at his long-time rival, OKX founder Star Xu.
Instead of a mere stroll down memory lane, CZ’s autobiographical debut has reignited old hostilities, prompting a swift and fiery rebuttal from Xu. This isn’t just about personal recollections; it’s a very public airing of grievances that dates back to the wild west days of cryptocurrency exchanges.
A Page-Turning Retelling of Old Wounds
Within the pages of “Freedom of Money,” CZ doesn’t shy away from revisiting the intense rivalries that shaped the early crypto landscape. He recounts a particular contractual dispute stemming from his tenure at OKCoin, implying a pattern of antagonism. More broadly, he paints a picture of a nascent industry rife with cutthroat tactics, where competitors allegedly employed “fear, uncertainty, and doubt (FUD)” campaigns to undermine his professional standing, even branding him an “unskillful chief technical officer.” It’s an assertion that suggests a deliberate effort to sabotage his upward trajectory.
But perhaps the most explosive revelation within the memoir comes in the form of an alleged statement from Huobi founder Leon Li, reportedly made in 2025. This statement, as presented in CZ’s book, implicates Star Xu in possibly reporting Li to regulatory authorities – a claim that, if true, would be a stunning betrayal within the closely-knit, albeit competitive, crypto founder circle.
Xu’s Digital Counter-Attack: “A Habitual Liar”
Predictably, Star Xu has not taken these literary jabs lying down. His digital platforms have become the battlefield for a vociferous defense, transforming the memoir’s release into a full-blown public dispute. Xu has consistently, and vehemently, denied any involvement in reporting Leon Li, painting CZ’s narrative as a fictionalized smear campaign.
In a direct and personal attack, Xu recently labeled CZ a “habitual liar” in online postings. He didn’t stop there, using the opportunity to resurrect his own long-standing accusation: that CZ had previously falsified contract documents. This isn’t a new claim from Xu, but its re-emergence in response to the memoir underscores the deep-seated animosity and the perception of a deliberate attempt by CZ to control the historical narrative. The ball, it seems, is now firmly in the court of public opinion, tasked with sifting through these dueling accounts of crypto history.
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