Binance Coin (BNB), the native cryptocurrency of Binance, saw an impressive 8% surge on October 23 after a stunning announcement — former U.S. President Donald Trump granted a full pardon to Binance cofounder Changpeng Zhao, popularly known as CZ.
At 10:35 p.m. IST, Binance Coin was trading at $1,132.74, marking a 5.38% increase from the previous day. Its market capitalization reached $157.65 billion, while daily trading volume climbed to $5.49 billion, according to data from CoinMarketCap. The sharp rally reflected a sudden wave of optimism within the global cryptocurrency community.
Trump’s Decision Shakes the Crypto Industry
White House spokeswoman Karoline Leavitt officially confirmed the pardon, saying:
“President Trump exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden administration in their war on cryptocurrency.”
The statement further argued that the previous administration had unfairly targeted Zhao despite “no allegations of fraud or identifiable victims.”
The move is being viewed as one of the strongest political endorsements yet for the cryptocurrency sector, signaling a possible shift toward more pro-crypto policies under Trump’s leadership.
The Background: CZ’s Legal Case
In 2023, Changpeng Zhao was found guilty of violating U.S. anti-money-laundering laws, admitting that Binance had failed to maintain proper compliance controls. He later served a four-month sentence in 2024 after pleading guilty.
The plea deal also included a $4.3 billion settlement with U.S. authorities — one of the largest penalties ever imposed on a crypto company.
Zhao’s pardon means his criminal record will be wiped clean, potentially opening doors for Binance to re-enter the U.S. market. Analysts believe the move could strengthen the company’s reputation and restore investor trust.
Binance’s Year-Long Push for Clemency
Sources familiar with the matter suggest that Binance executives had been lobbying for Zhao’s pardon for nearly a year. Reports indicate that the company emphasized Zhao’s cooperation and his efforts to comply with global regulations.
During this period, Binance continued to expand globally and became a key supporter of Trump’s blockchain-focused initiative, “World Liberty Financial.” Though both sides deny any political motivation, the timing of the pardon has sparked debate among critics and regulators alike.
Market Reaction and Investor Sentiment
The news of the pardon quickly spread across social media, causing #CZPardon and #BinanceComeback to trend on X (formerly Twitter). Investors reacted positively, and Binance Coin recorded one of its largest single-day gains in recent months.
Crypto analysts believe this event could encourage broader optimism across the digital-asset market. Many see it as a potential turning point for regulatory relations between major exchanges and the U.S. government.
However, some policymakers have criticized the pardon, arguing that it sends a risky message about accountability in the fast-growing crypto space.
What the Pardon Means for Binance and the Crypto Future
With his record cleared, Changpeng Zhao is expected to resume a more active role in Binance’s global strategy. The company could leverage this momentum to rebuild partnerships, expand in the U.S., and improve compliance frameworks.
The incident also highlights how political actions can strongly influence crypto prices, particularly for tokens tied to major platforms. While Binance Coin celebrated the news with an 8% rally, analysts caution that regulatory clarity remains key to the market’s long-term stability.
Conclusion
Donald Trump’s pardon of Changpeng Zhao has not only boosted Binance Coin’s value but also reignited discussions around the relationship between cryptocurrency and politics. For Binance, the move marks the beginning of a new chapter — one that could reshape its standing in both U.S. and global markets.
⚠️ Disclaimer:
This article is for informational purposes only and should not be treated as financial or investment advice. Cryptocurrency trading involves market risks. Always do your own research before investing.
