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Trump pardons Binance founder: Bitcoin and BNB explode!
President Trump Pardons Binance Founder CZ; Bitcoin rises above $110,000. A look at the background and effects.
Trump pardons Binance founder: Bitcoin and BNB explode!
On October 23, 2025, the US government under President Donald Trump made a far-reaching decision that could significantly impact the crypto industry. Trump granted a pardon to Changpeng Zhao, also known as CZ, the founder and former CEO of Binance. The news was announced on Thursday by White House Press Secretary Karoline Leavitt and has already started to have an impact on markets.
The pardon follows the conviction of Zhao by the Biden administration, which sentenced him to four months in prison in 2024 for violations of anti-money laundering laws. During this time, he resigned from his position as CEO and Binance was fined $4.3 billion. In a post on X, CZ expressed gratitude for the pardon and highlighted the issues of fairness, innovation and justice that are important to him.
Market reaction to the pardon
The pardon has sent Bitcoin (BTC) and Binance token (BNB) prices higher. Bitcoin gained over 3% to surpass $110,500, while BNB rose 5% to over $1,100. These developments suggest a positive market reaction, potentially reinforced by confidence in a pro-active crypto policy from the Trump administration.
Back in March, there were rumors that CZ was working toward a presidential pardon while working on crypto deals with members of the Trump family. CZ initially dismissed these speculations, but later confirmed in May that he had applied for a pardon.
Political context
CZ's pardon is not the first of its kind under President Trump. In January of this year, Ross Ulbricht, the founder of Silk Road, was also pardoned. These decisions come in the context of a political shift toward pro-crypto policies that challenge the Biden administration's previously existing restrictive measures.
In addition to Zhao's pardon, the US Securities and Exchange Commission (SEC) dropped its lawsuit against CZ and Binance in May, further stabilizing the company's legal situation. With increasing regulatory easing, the crypto industry could benefit from renewed interest and a potentially more favorable market environment in the coming months.
Overall, the development signals a profound change in how crypto companies are treated in the US and could take the market to new heights. Analysts and investors are eagerly awaiting how these political decisions will play out in practice.
For more details on the pardon and its consequences, read the full article FXStreet.