Key Developments Following the Pardon
U.S. President Trump has pardoned Binance founder Changpeng Zhao, with sources indicating the decision was made on October 24th. The pardon was reportedly issued based on allegations of political persecution by the Biden administration, with President Trump asserting Zhao's innocence.
This action suggests potential shifts in the dynamics of U.S. cryptocurrency regulation. Such changes could influence market stability and significantly impact Binance's operational strategies moving forward.
Mixed Reactions to the Pardon
President Trump officially issued a pardon for Binance founder Changpeng Zhao (CZ), who had previously been convicted of financial violations. While official records confirm the pardon, specific details regarding President Trump's reasoning remain undisclosed. Binance has responded positively to the decision, describing it as "incredible news".
The pardon may lead to improved relations between Binance and the United States, potentially encouraging more institutional investments. This could be particularly relevant for investments utilizing Trump-associated stablecoins, such as USD1. The controversial nature of this decision highlights potential adjustments in Binance's strategic priorities.
Binance Spokesperson stated, "Incredible news of CZ’s pardon today. We thank President Trump for his leadership and for his commitment to make the US the crypto capital of the world. CZ’s vision not only made Binance the world’s largest crypto exchange but shaped the broader crypto movement. Binance remains focused on building a secure, transparent, and user-first platform that reduces fees and increases access to the financial system for all."
Impact on Regulatory Landscape and BNB Volatility
A notable precedent was set in 2025 when BitMEX also received a U.S. pardon, which facilitated its market expansion and established a potential pathway for similar clemency for other crypto executives, including CZ.
According to data from CoinMarketCap, Binance Coin (BNB) was valued at $1,116.61, with a total market capitalization of $155.41 billion as of October 23, 2025. Recent price movements show a substantial increase of 43.53% over the past 90 days, although it experienced a 2.62% decrease in the last seven days.
The Coincu research team has observed that BNB's volatility could potentially increase following the pardon, largely due to ongoing regulatory uncertainties. The U.S. regulatory frameworks are expected to undergo adaptations that could impact the broader financial and technological aspects of the cryptocurrency market.