U.S. President Donald Trump pardoned Binance founder Changpeng Zhao on October 23, 2025, sparking controversy among lawmakers and notable shifts in cryptocurrency markets.
The pardon evoked intense political debate and significant market reactions, with Bitcoin and Ethereum prices surging post-announcement.
President Trump pardons Binance’s Zhao; Rep. Waters strongly condemns action.
President Trump pardons Binance founder, drawing criticism over regulatory implications and potential impacts on cryptocurrency markets.
Trump Pardons Zhao: $50M Fine for Bank Secrecy Violation
The recent pardon of Binance founder Changpeng Zhao by President Donald Trump has drawn criticism from various lawmakers. This decision follows Zhao’s guilty plea in 2023 for violating the Bank Secrecy Act. He paid a substantial $50 million fine.
President Trump explained the pardon as the result of recommendations from trusted advisors, emphasizing Zhao’s innocence of any crime. “I don’t know, he was recommended by a lot of people. … They said that what he did is not even a crime, it wasn’t a crime, that he was prosecuted by the Biden administration, and so I gave him a pardon at the request of a lot of very good people.” The decision marks a significant shift in the regulatory landscape, eliciting strong reactions from political and financial sectors.
Bitcoin Surges to $19,000 Following Pardon Announcement
Cryptocurrency markets registered immediate reactions, with Bitcoin prices rising to $19,000 and Ethereum trading at $3,878. The move by Trump has amplified debates on current crypto regulations, especially their impact on market integrity and stability.
Experts note the pardon could influence proposed market structure legislation, potentially supporting more crypto-friendly policies. The Binance Coin (BNB) might see increased volatility due to Zhao’s renewed participation in Binance’s operations.
Previous Pardons Echo in BitMEX and Binance Cases
The event mirrors a May pardon of BitMEX executives earlier in the year, which facilitated the exchange’s operational ease in the U.S. Such acts carry implications for governance tokens like BNB and DeFi protocols associated with popular exchanges.
Kanalcoin experts highlight that the action may increase scrutiny on cryptocurrency regulation while promoting innovation. Historical trends indicate a period of accelerated growth for exchanges post-pardon, suggesting a potential market expansion driven by investor confidence.
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