Donald Trump pardoned Changpeng Zhao, former CEO of Binance, reigniting debates on the links between political power and the crypto industry. In a context of reinforced regulation, this gesture calls into question the growing influence of platforms in the public sphere. The decision, confirmed by the White House, provoked an immediate reaction in the market and reignited tensions around conflicts of interest between politics and financial technologies.
In brief
- Donald Trump granted a presidential pardon to Changpeng Zhao, founder of Binance, convicted in 2023 for money laundering.
- This decision, confirmed by the White House, immediately provoked a reaction from the crypto markets, particularly on tokens linked to Zhao.
- BNB climbed 4.7%, the meme coin “4” jumped 32%, and the WLFI token, backed by Trump and Binance, rose more than 15%.
- WLFI is linked to a pro-Trump political project and financed in part by an Abu Dhabi sovereign wealth fund via the USD1 stablecoin.
Trump's pardon and the immediate market reaction
On October 23, the White House confirmed that Donald Trump had granted a presidential pardon to Changpeng Zhao, founder and former CEO of Binance.
Zhao had pleaded guilty in 2023 to violating U.S. money laundering laws. He was prosecuted for allowing actors linked to criminal activities to use the Binance platform, then the largest crypto exchange in the world.
CZ spoke publicly on X (formerly Twitter): “I am deeply grateful for today’s pardon and to President Trump for defending America’s commitment to fairness, innovation and justice”.
In the wake of this announcement, several cryptos linked to Zhao and the Binance ecosystem saw strong appreciation. Here is the main movements observed :
- BNB, Binance's native token, rose 4.7%, reaching $1,115, with a daily high recorded at $1,149;
- The “4” token, a memecoin attached to CZ and inspired by his regular messages mentioning the number “4”, jumped 32%, exceeding $0.11;
- The overall market was also impacted, with bitcoin up almost 2% and Ethereum gaining around 1.3%.
This bullish surge took place in a context of partial recovery of the crypto market, but the most marked effect was observed on tokens directly associated with Zhao, illustrating the immediate impact that a political decision of this magnitude can have on prices.
World Liberty Financial, Binance and Trump: an assumed convergence of interests
Beyond the immediate market dynamics, the presidential pardon comes in a context of strategic rapprochement between Donald Trump and well-identified crypto projects, notably World Liberty Financial (WLFI).
This crypto, which runs on Ethereum, is associated with Trump and supported by Binance. It rose 15.2% following the pardon, reaching over $0.14. The USD1 stablecoin, issued under WLFI, is already available on the BNB Chain, and was used as a payment instrument for a $2 billion investment by Abu Dhabi-based sovereign wealth fund MGX in Binance.
This information illustrates increasingly visible financial links between Trump's political interests, CZ's global ambitions, and the growing influence of Middle Eastern capital in the crypto sphere. The BNB Chain, as a technological infrastructure, thus becomes a strategic vector for these operations, facilitating the integration of tokens linked to political programs and international institutional investments.
CZ's pardon is therefore not a simple act of clemency. It could be interpreted as a political signal, reinforcing Trump's pro-crypto posture, while consolidating an axis of influence between the United States, the Middle East and platforms like Binance, despite the latest controversial bug.
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