The cryptocurrency market lit up on Thursday as tokens connected to Binance co-founder Changpeng “CZ” Zhao and U.S. President Donald Trump surged following news that Trump had officially granted a presidential pardon to CZ. The announcement triggered a wave of optimism across the digital asset space, fueling speculation about the future of Binance, regulatory policy, and politically connected crypto projects.
BNB and Related Tokens See Major Gains
Among the top performers was Binance Coin (BNB), which climbed roughly 1.2% in the past 24 hours, trading near $1,127 according to data from CoinGecko. The price bump made BNB one of the best-performing large-cap coins of the day, reflecting renewed confidence in Binance and its leadership.
Meanwhile, World Liberty Financial (WLFI) — a project reportedly backed by members of the Trump family and linked to Binance’s extended ecosystem — recorded a 12.5% daily jump, hitting $0.142. The TRUMP meme coin also gained 2%, changing hands just above $5 as traders rushed to buy tokens tied to Trump’s growing influence in both politics and crypto.
Other smaller tokens inspired by CZ’s persona also experienced a bullish wave. The “4” meme coin, referencing Zhao’s frequent use of the number on social media to symbolize persistence and faith in crypto, soared 30% to $0.11. Likewise, Aster, a decentralized exchange launched in early October and promoted by the former Binance CEO, rose 10%, reclaiming the $1.14 mark.
The Presidential Pardon: A Turning Point
Zhao’s pardon comes after a turbulent legal chapter for both him and Binance. In April 2024, Zhao was sentenced to four months in federal prison after pleading guilty to violating U.S. money laundering laws. Binance, the world’s largest exchange, also admitted guilt and paid $4.3 billion in fines for compliance failures and sanctions violations.
Having completed his sentence in September 2024, Zhao’s record is now cleared thanks to Trump’s pardon. The move effectively restores his ability to participate in the financial sector, subject to regulatory approval.
White House Press Secretary Karoline Leavitt defended the decision, calling Zhao’s prosecution “an overreach by the Biden administration.” She stated that “the president wanted to correct this misjustice and exercised his constitutional authority to do so.”
According to The Wall Street Journal, Binance had lobbied for nearly a year to secure Zhao’s pardon. The company reportedly assembled a team of legal experts, political consultants, and lobbyists to highlight Zhao’s cooperation with U.S. authorities and Binance’s ongoing compliance reforms.
In a related development, Binance recently received a $2 billion investment from Abu Dhabi’s sovereign wealth fund MGX, reportedly paid through World Liberty Financial’s USD1 stablecoin — signaling growing international confidence in the exchange’s recovery.
CZ Responds with Gratitude, Industry Divided
Shortly after the announcement, Zhao took to X (formerly Twitter) to express his appreciation:
“I am deeply grateful for today’s pardon and to President Trump for upholding America’s commitment to fairness, innovation, and justice.”
His message quickly went viral, drawing both praise and criticism from the crypto community.
Justin Sun, CEO of the Tron Foundation, celebrated the moment, writing:
“Congratulations to CZ and to the entire crypto community on reaching this historic moment. It hasn’t been easy, but it’s finally here!”
However, the broader reaction within the industry was far from unanimous. Some viewed the pardon as a symbol of political favoritism and a step backward in efforts to maintain integrity and accountability in the crypto space.
Prominent crypto commentator Leonidas, host of The Ordinal Show podcast, sharply criticized the hero worship around CZ, calling it “misplaced.” He argued:
“CZ has spent 7 years fostering a persona of being a humble innovator while building a $100B empire through shady practices. Anyone who takes Binance or CZ’s words at face value is completely brainwashed.”
The Broader Implications
The pardon’s timing — amid Trump’s re-election campaign and ongoing debates about crypto regulation — has sparked speculation about the political future of digital assets in the U.S. Some analysts suggest the move signals a more pro-crypto stance from the Trump administration, while others warn it could undermine trust in regulatory enforcement.
Regardless of the political implications, the market’s response was immediate and bullish, underscoring how sentiment-driven the crypto space remains.
For now, tokens tied to CZ and Trump appear to be riding a powerful wave of optimism, but whether that momentum will last depends on how investors interpret the long-term impact of this controversial pardon — both for Binance and the broader crypto ecosystem.
In short:
Trump’s decision to pardon CZ has reignited enthusiasm across the crypto industry — boosting tokens, stirring debate, and reshaping the political narrative around digital assets. Whether it marks a new dawn for pro-crypto policy or a temporary rally built on hype remains to be seen.
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