CEO, Binance
Interview with Changpeng Zhao (CZ), Founder, Binance and Giggle Academy
In this conversation with Crypto Middle East, Changpeng Zhao (CZ), Founder of Binance and Giggle Academy, shares his perspective on the UAE’s rapid rise as a global hub for crypto, fintech, and innovation.
Reflecting on his journey across major financial markets, CZ highlights what sets the UAE apart, from its forward-thinking leadership to its carefully balanced regulatory approach that supports both innovation and user protection.
He points to the country’s ability to create a secure, well-regulated environment without slowing technological progress, positioning it as a leading destinatio...
About Changpeng Zhao
Changpeng Zhao, founder of Binance, has been active in media appearances discussing his investment in Twitter (now X), his memoir "Freedom of Money," and his views on regulation and jurisdiction. In interviews, Zhao described himself as one of the top three or four investors in Twitter, stating that he backed Elon Musk's acquisition because "free speech is why I backed Elon" and that supporting the platform was "a meaningful cause for a crypto business to support." He characterized figures such as Ray Dalio, Eric Schmidt, and Masa Son as mentors rather than peers. Zhao also discussed his decision to base his life in the UAE, calling it "by far the safest country in the world" and praising its "visionary" leadership and calibrated regulation. He said that during the Biden administration the US was "one of the worst places to live in" for crypto businesses, but that in the last year and a half America has become "one of the best countries to live in" due to a policy reversal. Zhao addressed his legal case and subsequent pardon by Donald Trump, noting that without the pardon he would remain "labeled as a felon" and that his ability to hold financial
Transcript (12 segments)
✨ AI-enhanced transcript with speaker attribution
H
Host0:00
Welcome to Crypto Middle East. Now, today we're about to meet Caesar, who is of course the founder of Giggle Academy and Binance. We're going to be talking to him about the UAE, about regulation, about the future of cryptocurrency, and many more. And of course, about his new book, The Freedom of Money. Cy, it's wonderful to have you here with us. Of course, you are the founder of Giggle Academy and Binance, and we're here today for The Freedom of Money, your much anticipated book.
C
Changpeng Zhao0:30
Thank you for having me.
H
Host0:32
Now, it's fair to say you've had a front row seat in the evolution of finance, whether it's in Asia, US or the Middle East. Looking at the UAE today, what feels fundamentally different here and how does this environment look like? And take some parallels from your Freedom of Money book as well if you can.
C
Changpeng Zhao0:51
Sure. I think one thing that stood out with UAE is that the leadership is visionary very early. I came in 2021. UAE started to be pro crypto even earlier than that. My friends told me, 'Look, CZ, you should come to Dubai, just check out UAE, the leadership is very pro crypto.' Then I came in 2021. This was in the Biden administration, before President Trump. So the forward visionariness of the country is really impressive. I came, I stayed, we got licensing. Binance got licensing in the UAE. That all happened within the last few years and continues to happen. I think UAE is poised to lead multiple industries including crypto, AI, fintech, etc. So I think this is a very unique place to be.
H
Host1:41
Yeah. And on that, let's expand on regulation in crypto can be reactive, it can be restrictive as well, but the UAE seems to be taking a much more structured approach, an enabling approach. From where you sit, how does the balance between protecting users and not holding back innovation look like? And do you think the UAE is setting the right balance when it comes to these two areas?
C
Changpeng Zhao2:05
Absolutely. I think UAE is achieving really, really good calibration between the two. Many global regulators, when they say they want to regulate, they just stop everything. They eliminate all problems, but that also eliminates innovation. I think UAE has always taken a very nuanced approach, very calibrated. But UAE is super safe. Even today, with a war going on, Dubai is safer than most cities in the world. That's actually one of the reasons we're hosting a book signing event in Dubai as the first official one. We have confidence in the safety of the country's environment. This shows both fiscally and in fintech regulations. So I think UAE somehow made that calibration really well. It's a very tough regulator. There are a lot of requirements, but at the same time they allow innovation to happen. When you walk on the street, you feel this is one of the safest cities even with missiles flying. That cannot be said in most other countries or cities. How you feel on the street is actually also how you feel in terms of financial regulation. There are a lot of parallels there. I don't know how to describe it, but it's one of the most well-regulated places in the world.
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Host3:23
Fantastic. And I want to ask you a bit of a personal and professional question. If we fast forward five years, what do you think your impact on the industry will look like and where does this fit into the vision of the UAE as a market hub or something a little bit more than that?
C
Changpeng Zhao3:44
Sure. I think if we fast forward five years, I want to be a facilitator. I don't want to be a founder anymore. I don't want to be the leader of a company. I want to help multiple founders. I want to help other people invest, either be an investor, mentor, consultant, and also resource provider to help other founders grow. I think UAE is one of the best environments for that. Today we live in a digital world. Good policies matter. I think UAE has one of the best policies. UAE's natural environment is a bit hot, but that doesn't matter anymore. We're living in a digital world. So I would encourage people to explore the UAE as their home, as I have done for myself over the next few years.
H
Host4:28
Fantastic. And of course, finally we're here for The Freedom of Money. What should one expect from the book? What should be some key takeaways you want to give to your readers?
C
Changpeng Zhao4:36
I think for me, it's really just my boring story. There are little pieces here and there. There wasn't a central theme in my head that this is the message I want to get out. I just want people to understand what I've seen, how I have seen crypto evolve in different countries and places, some of the challenges we face. I think the story itself is really crazy, so it's fun. But if I want to give people one message, it's consistency. We went through ups and downs. The technology is not going away. We're not going away. We have a very steady mindset to push this industry forward.
H
Host5:16
Well, CZ, thank you very much indeed for joining us and congratulations on the book.
C
Changpeng Zhao5:20
Thank you so much for having me here. Thank you very much.