Trump’s Support Boosts Grayscale’s New U.S. Crypto ETFs
President Trump Officially Pardons CZ – BNB Soars Past $1,160
The global crypto community is in an uproar after U.S. President Donald Trump officially signed a presidential pardon for Binance founder Changpeng Zhao (CZ). The White House confirmed the news just hours before U.S. markets opened. CZ, who was sentenced to four months in prison in 2024 for anti-money-laundering violations, has now been fully pardoned and reinstated as a U.S. citizen. The pardon is part of Trump’s broader initiative to promote innovation in blockchain, AI, and decentralized data. During a press conference, Trump stated he “didn’t really know who the crypto guy was” but granted the pardon “at the request of a lot of very good people.” He also took the opportunity to call a CNN reporter “fake news,” saying they “knew nothing about crypto.”
CZ’s Pardon Marks a New Era for Binance
CZ’s legal troubles began in November 2023, when Binance admitted to violating U.S. anti-money-laundering laws and agreed to pay a record $4.3 billion fine. Under the Department of Justice (DOJ) settlement, CZ was forced to step down as CEO, was barred from holding executive roles for three years, and Binance was placed under oversight by two independent monitors. After serving his sentence, CZ was released in September 2024. In May 2025, he formally applied for a presidential pardon, hoping for clemency similar to other high-profile cases like Ross Ulbricht and the BitMEX founders. The move coincided with Binance’s collaboration with World Liberty Financial (WLFI), a crypto initiative backed by the Trump administration that issued the USD1 stablecoin — a partnership seen as a major turning point for Binance’s political ties.
The Timeline Behind the Pardon
The months leading up to the pardon reveal a sequence of events connecting Binance with Trump’s pro-crypto ecosystem. In March 2025, WLFI launched its USD1 stablecoin, reportedly under Trump’s direct endorsement. That same month, Abu Dhabi–based fund MGX announced a $2 billion investment in Binance, paid entirely in USD1. In May 2025, CZ confirmed he had filed his pardon request. By October 2025, Trump officially signed the order. Analysts view this chain of events as proof of deepening ties between Binance and Trump’s financial network — a signal that Washington may be shifting toward a more crypto-friendly direction.
Insider Trading Allegations Surface
Speculation quickly arose after reports from Polymarket indicated that Bitcoin whale Garrett Jin had bet on CZ’s pardon weeks before the official announcement. Jin had also shorted the market heavily right before Trump’s new tax policy rollout. These coincidences fueled concerns about potential insider information leaks from within the Trump administration.
Market Reacts With Sharp Recovery
Following the announcement, BNB surged more than 5%, peaking at $1,162 and triggering a wave of optimism across the crypto market. Bitcoin (BTC) climbed nearly 2% to $110,479, while Ethereum (ETH) rose 1.5% to $3,885. At the same time, the Nasdaq gained over 1% ahead of the September CPI release, boosting sentiment toward risk assets. Analysts say that beyond the “CZ effect,” the rally was supported by growing expectations that the Federal Reserve will cut interest rates further this year, sustaining liquidity inflows into crypto.
Trump’s Administration Sends a Clear Signal
Experts see CZ’s pardon as more than a personal act of forgiveness — it’s a political statement. Trump’s decision underscores his administration’s intent to rebuild trust between Washington and the crypto industry, which faced intense scrutiny under Biden. Some analysts believe this marks the start of a friendlier regulatory landscape for stablecoins, decentralized exchanges, and Web3 companies in the United States. A Galaxy Digital strategist noted, “This isn’t just about CZ — it’s about America reclaiming its role as a global leader in financial innovation.”
Conclusion
The pardon of Changpeng Zhao stands as a landmark moment for the crypto industry. It not only restores Binance’s credibility but also signals a strategic shift in U.S. policy toward digital assets. With political winds turning pro-crypto, markets are regaining confidence — and Binance may once again find itself at the center of the next wave of global financial innovation.
Disclaimer: The content above reflects the author’s personal views and does not represent any official position of Cobic News. The information provided is for informational purposes only and should not be considered as investment advice from Cobic News.