Binance's CZ Criticizes New York Times for Publishing Draft on $4.3B Settlement Negotiations

Unauthorized Draft Release: Binance founder Zhao criticized the New York Times for publishing an unauthorized early draft of his upcoming memoir, which included sensitive details about ongoing negotiations with U.S. authorities and his prison sentence.

Settlement Agreement: The article revealed that Binance agreed to a $4.3 billion settlement with the U.S. Department of Justice after initially facing a proposed penalty of $6.8 billion.

Prison Sentence Details: Zhao's memoir draft recounted his four-month prison sentence and interactions with guards and inmates, as well as a previously unreported detainer issued by Immigration and Customs Enforcement.

Legal Consultation: Zhao consulted numerous lawyers during the negotiation process and ultimately pleaded guilty to a single count of violating anti-money laundering statutes, leading to his sentencing in 2024.