CZ on All-In Podcast: From McDonald's Flipper to Building a Crypto Empire, the AI + Crypto Future Looks Bright

Binance founder Changpeng Zhao (CZ) joined Chamath Palihapitiya for a two-hour deep-dive interview on the All-In podcast, released February 10, 2026—his most detailed long-form chat since his release. The episode, titled *The Untold Story of CZ: The Rise, Underestimation, and Redemption of Binance Founder*, covers his immigrant background, Binance’s founding, the FTX incident, prison experience, and post-release reflections. ### Key Takeaways: - **Early Days**: At 14, CZ’s first job was at McDonald’s in British Columbia. While the province’s minimum wage was $6/hour then, McDonald’s paid $5.5/hour via a special exemption. - **Post-Release Schedule**: He now has 20+ scheduled meetings/calls daily, plus ad-hoc tasks and social media responses. Though busy, the work feels meaningful—his sense of accomplishment isn’t tied to money or business growth, and it’s hard to put into words. - **SBF & FTX**: CZ first met Sam Bankman-Fried (SBF) at a 2019 Singapore conference. FTX initially proposed a joint venture (JV), which CZ rejected; a later deal led Binance to acquire a 20% FTX stake. Issues arose during the process, including malicious devaluation and employee poaching. CZ exited the investment in July 2021 and wasn’t deeply involved as an investor. Related litigations are ongoing, and FTX’s bankruptcy proceedings and compensation remain unclear. - **AI & Crypto**: The global investment landscape has shifted with AI’s rise. CZ noted AI agents could become major crypto users—millions might run background transactions (e.g., podcast payments, restaurant/hotel bookings). Traditional banks can’t support the high-frequency, high-value transactions these agents would handle. Bitcoin and most cryptos lack privacy (blockchain transactions are traceable), so the industry needs better privacy features—though privacy-focused coins currently have smaller market caps. - **Self-Positioning**: CZ framed himself as an “ordinary person,” emphasizing hard work and luck. Palihapitiya asked friendly questions and didn’t dive into recent FUD or controversies.