Trump pardons Binance founder Zhao: BNB token crashes!

Trump pardons Binance founder Zhao: BNB token crashes!

Today, October 24, 2025, the news of Binance founder Changpeng Zhao's pardon by President Donald Trump is making waves in the crypto world. This extraordinary decision overturns Zhao's 2023 conviction for anti-money laundering law violations and has caused the Binance token BNB to rise by 15% to around $1,150, as Daily Hodl reported.

The full and unconditional pardon frees Zhao from possible further punishment after he has already spent four months in prison and paid a $50 million fine. Zhao had pleaded guilty to failing to maintain an effective money laundering program at Binance, which resulted in enabling illegal activities, including drug trafficking and terrorist financing.

Binance’s legal challenges

In 2023, Binance was embroiled in serious legal troubles that eventually led to a settlement with the Department of Justice. The company was forced to pay a $4.3 billion fine, considered the largest fine in cryptocurrency history. These developments led to a massive upheaval within the company, as Zhao stepped down as CEO but still retained majority ownership of Binance.

The pardon now opens the door for Zhao to potentially reclaim the leadership. Insider information suggests that he has plans to further expand Binance in the US market.

Market reactions and future prospects

Reaction to the pardon was mixed. While the rise of the BNB token sparked joy among investors, there are also concerns about the long-term consequences of this decision. Critics point out that the pardon could set a dangerous precedent, particularly regarding compliance in the financial sector.

Nevertheless, the prospect of Zhao and Binance establishing themselves as strong players in the US crypto market remains an absolute topic of interest. Daily Hodl highlights that the pardon could strengthen Zhao's position in the market, potentially leading to a stabilization of the cryptocurrency industry.