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Binance boss CZ pardoned: crypto market on a rollercoaster ride!
Binance's Changpeng Zhao receives a pardon from Trump as large XRP transactions and Bitcoin activity energize the market.
Binance boss CZ pardoned: crypto market on a rollercoaster ride!
On October 23, 2025, Changpeng Zhao, better known as CZ, founder of the Binance cryptocurrency exchange, received a full pardon from President Donald Trump. This decision, reported by the Wall Street Journal on Wednesday, is causing a stir in the financial world. “CZ’s pardon could mark a turning point for cryptocurrency regulation,” commented Fox Business’s Charles Gasparino. He had previously reported that Binance was close to getting a pardon.
In response to the news, the price of Binance-owned token BNB rose 5.1% to reach an intraday high of $1,138. CZ confirmed that its lawyers had already filed an application for a pardon, which was further boosted by positive market developments. Crypto market analysts noted a number of large transactions carried out by so-called “whales” that piqued investor interest.
Massive XRP transfer and speculation achieved
A standout event in the crypto sector was a massive XRP transfer of over $506 million that was completed between anonymous wallets. This event coincided with the overall recovery of the crypto market, fueling speculation about future price movements. Observers suggest that these transactions may indicate strategic investments.
In addition to this transfer, a Satoshi-era wallet holding 4,000 BTC worth approximately $440 million was reactivated after over 14 years of inactivity. The wallet dates back to the earliest phase of cryptocurrency (January 2009 to December 2011) and is therefore attracting a lot of interest. Experts believe that possible activity surrounding the Bitcoins held in the wallet is also due to Satoshi's dwindling Bitcoin holdings, which recently suffered a $20 billion loss in value.
Crypto market on the rise
The events surrounding CZ and the massive XRP transaction suggest that the crypto market is recovering. Many investors seem to be optimistic about the future price development of cryptocurrencies. In the coming weeks, market participants will continue to closely monitor how the regulatory changes and new reprieves will impact the industry.
These developments could be crucial not only for Binance but for the entire cryptocurrency landscape. The return of large Bitcoin wallets to active business could attract many investors and potentially provide new impetus for the market.
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