What happened?
President Trump pardoned Changpeng “CZ” Zhao, the co‑founder and former CEO of Binance. CZ had pleaded guilty to money laundering in 2024 and served about four months in prison. The pardon reportedly came after Trump told advisers he was sympathetic to claims that Zhao and others were being politically persecuted.
Who does this affect?
It directly affects CZ and his legal standing and reputation. It also impacts Binance, holders of the BNB token, and investors who watch exchange stability and leadership changes. Regulators, other crypto executives with legal exposure, and market participants will be closely watching the precedent this sets.
Why does this matter?
The news immediately moved markets — BNB jumped to around $1,150 before settling near $1,128, a roughly 4.5% rise in a few hours — showing how political events can quickly sway crypto prices. In the short term it may boost confidence in Binance and related assets but also increase volatility as traders price in legal and political risk. Over the longer term, the pardon could change how investors and regulators value risk across the crypto sector and influence future enforcement and policy expectations.