Trump’s Crypto Coup: Pardons Binance Founder CZ, Sparking BNB Surge and Policy Buzz
Picture this: A billionaire crypto kingpin, fresh out of a federal lockup, gets a presidential get-out-of-jail-free card just as digital assets claw back from a rough patch. That’s the scene unfolding today, October 24, 2025, after President Donald Trump issued a full pardon to Changpeng “CZ” Zhao, the ousted CEO of Binance—the world’s biggest crypto exchange by volume.
The announcement hit late yesterday, catching even Wall Street watchers off guard. Zhao, a Canadian tech whiz who built Binance into a $100 billion behemoth since 2017, had been tangled in U.S. regulators’ nets for years. In November 2023, he pleaded guilty to one count of violating anti-money laundering laws by letting the platform process transactions tied to illicit activities like drug trades and sanctions dodges. He stepped down as CEO, forked over a $50 million personal fine (on top of Binance’s $4.3 billion slap), and in April 2024, drew a light sentence: four months in a low-security California prison. He walked free in September 2024, but the conviction hung like a dark cloud over his future moves.
Enter the pardon—Trump’s latest flex in what insiders call a “crypto charm offensive.” Sources say Zhao’s camp lobbied hard since Trump’s January inauguration, pitching his story as a symbol of overreach in Biden-era crackdowns. Ties run deeper: Zhao reportedly funneled support to Trump’s family-linked crypto ventures, like a stablecoin project teased earlier this year. The White House framed it as mercy for a first-time offender who “cooperated fully,” but critics aren’t buying it, labeling the move as payback that blurs lines between politics and profit.
The crypto crowd? They’re popping champagne—or at least HODLing harder. Binance’s native token, BNB, rocketed 8-15% overnight, touching $1,150 before settling around $1,125-$1,130, pushing its fully diluted value to $163 billion. On-chain metrics lit up: BNB Chain’s total value locked jumped 20% to $7.2 billion, daily active addresses spiked 33% to 1.6 million, and spot inflows ballooned 500% to $41 million—mostly buys. The Fear & Greed Index climbed from 29 to 45, with X ablaze: “#CZ” mentions up 400%, “#BNB” by 320%. One trader quipped on X, “Trump pardons CZ—markets recover? Check onchain with @EdgenTech,” tying it to today’s softer CPI print. CZ himself fired off a tweet: “Grateful for the opportunity to continue building.”
Not everyone’s toasting. Legal eagles and Dem lawmakers are crying foul, calling it “corruption that undermines the rule of law.” Elizabeth Warren’s office blasted it as “a green light for crypto crooks,” warning it could stall ongoing probes into Binance’s global ops. Even in crypto Twitter, skeptics grumbled about “optics killing innovation elsewhere,” like the UK’s tight regs.
For everyday Americans dipping toes into Bitcoin or eyeing that next ETF, this pardon packs real punch. It signals Trump’s admin is dialing back the “war on crypto”—regulators have already shelved suits against Binance and peers, paving the way for clearer rules that could unlock trillions in institutional cash. Think easier on-ramps for retirement portfolios, fewer IRS headaches on trades, and a boost to jobs in fintech hubs like Miami or Austin. Broader markets stayed chill (BTC up just 2% to $111,500), but if this green-lights more pardons or policy wins, your 401(k) might soon have a crypto sleeve. It’s a reminder: In 2025’s economy, where tech drives 20% of GDP, one signature can flip the script on innovation versus oversight.
As Zhao eyes a Binance comeback (or fresh ventures), all eyes are on November’s midterms and what other “reforms” Trump has queued. The blockchain’s never been more political—or promising.
By Sam Michael
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