Donald Trump Pardons Binance CEO CZ, Market Reacts Globally

U.S. President Donald Trump pardoned Binance founder Changpeng Zhao (CZ) in October 2025 after Zhao pleaded guilty to money laundering violations in 2023, a move that has significantly impacted the cryptocurrency market. The pardon led to a rapid surge in Binance Coin (BNB), which rose over 5% and sparked optimism for a broader crypto market recovery. Following the pardon, Polymarket betting odds for CZ returning to Binance by the end of 2025 initially jumped to 82% before stabilizing around 36%, reflecting market speculation on his potential comeback. Trump stated he acted on recommendations and supporters' claims that Zhao was unfairly prosecuted by the Biden Administration, which had sought to penalize the crypto industry despite no allegations of fraud or identifiable victims. Zhao expressed gratitude for the pardon and pledged to support the U.S. as a global leader in digital assets and Web3 innovation. The market reaction extended beyond Binance, with expectations of improved regulatory clarity benefiting centralized exchanges, stablecoins, and blockchain ecosystems.