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Binance (CRYPTO: BNB) founder Changpeng “CZ” Zhao recounted his experience in a U.S. prison in an interview aired Tuesday, shedding light on the system’s inner workings and racial dynamics.
During the All-In podcast with Chamath Palihapitiya, CZ said that while it was “a really bad experience overall,” he never encountered physical harm, fights or extortion threats.
“A bunch of the big media wrote that I’m going to be the richest person to ever go to a U.S. prison,” CZ added. So, given the high-profile coverage, you’re probably the biggest target for potential extortion in prison. So your safety is going to be an issue. So, that’s the thing I was worried about then.”
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The former Binance CEO stated he was strip-searched and then sent to his unit in a low-security prison in a California desert.
“I should have been eligible for a minimum security prison, which is one level lower, where most of the white collar crimes go. But because I’m not a U.S. citizen, they put me into a low [security prison], which is where all the drug lords are,” he said.
CZ shared how a guard warned him that he would need “protection,” and suggested linking up with the “Pacific Islanders” gang.
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CZ said that the prisons were organized by race and ethnicity, something which he found surprising but effective in reducing “conflicts.”
“So I walk in, and then this half-Asian looking dude comes to me and says, ‘Look, my name’s Chino. Welcome to our group,'” he recounted.
The cryptocurrency billionaire said the prison showers were cramped little boxes, where it was “hard to take a shower without touching the wall.”
CZ said he would share more details about his prison life in his upcoming book.
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CZ founded Binance in 2017, which has since grown to become the world’s largest cryptocurrency trading platform. According to Forbes, he owns an estimated 90% of the exchange plus a significant stash of its BNB tokens.