On October 23, the whole crypto industry is celebrating – according to the latest reports revealed by the Wall Street Journal, the US President, Donald Trump, had just pardoned Binance’s founder, Changpeng Zhao, also known as CZ.
BNB price recorded a price spike following the bullish news, which might kick off a rally in the entire market.
Trump Pardoned CZ
WSJ reported that CZ, Binance’s founder, had just been pardoned by Trump, citing people familiar with the matter.
The publication revealed that Trump had recently indicated to his advisors that he was sympathetic to arguments of political persecution related to CZ and others.
The White House press secretary, Karoline Leavitt, reportedly said that Trump had exercised his constitutional authority by issuing a pardon for CZ, who had been persecuted by the previous Biden administration in the US. She reportedly said that the Biden administration’s war on crypto is over.
WSJ reported that Binance did not immediately respond when requested to comment on the news. Neither the exchange nor CZ has commented on the matter via X.
BNB’s price reacted to the bullish news and recorded a spike.
BNB Price Trajectory
At the moment of writing this article, BNB is trading above $1,148, up by more than 6^ in the last 24 hours. The digital asset’s price continues to surge.
This is important news for the entire industry, which has seen immense support from Binance and the exchange’s founder over the years.
CZ continued to support the biggest exchange in the ecosystem and the whole industry, despite having to resign as Binance’s CEO in 2023.
CZ’a pardon could open the doors for a bullish comeback for crypto, despite the multiple recent issues that have plagued the industry, including immense FUD against Binance.
After all, as we predicted before, Uptober could still resume after this optimistic news, and amidst other multiple important bullish factors.
UPDATE: CZ confirmed the news via X, showing his gratitude to Trump for upholding America’s commitment to fairness, innovation, and justice. He said that he’ll do everything he can to help make America the Capital of Crypto and advance Web3 worldwide.
