Key Developments
President Donald Trump has pardoned Changpeng Zhao, the convicted founder of Binance, marking a significant political and market development. The decision follows months of reported engagement between Zhao and Trump’s associates, reflecting growing alignment between the administration and crypto leaders. According to The Wall Street Journal, the pardon was signed on Wednesday, signalling a potential reversal of prior regulatory hostility. The White House emphasized that Trump had exercised his constitutional authority in response to what it called the previous administration’s anti-crypto stance. The move is expected to pave the way for Binance’s return to the U.S. market after years of compliance hurdles. Zhao, who served a four-month prison term ending in September 2024, faced restrictions following Binance’s 2023 guilty plea to anti-money-laundering violations. The company had spent nearly a year lobbying for the pardon, hiring political strategists to rebuild its image in Washington. Industry observers see this action as a defining moment for U.S. crypto policy, potentially opening doors for broader institutional participation.
Market Reaction and BNB Performance
The news of the pardon immediately triggered a rally in Binance’s native token, BNB. The token surged 5.18% to $1,148.8 within 24 hours, reflecting renewed investor optimism. Its market capitalisation rose 5.08% to $157.49 billion, while trading volume increased 14.04% to $4.71 billion. The strong rebound highlights growing confidence in Binance’s regulatory recovery and operational outlook.
Analysts suggest that the development could strengthen Binance’s position in global crypto markets as U.S. policy turns more favourable. With both circulating and total supply at 139.18 million BNB, the token’s fully diluted valuation now stands at $157.4 billion.