The Photo That Saved CZ: The Untold Story Behind Trump’s Pardon of Binance’s Founder
- What’s the Deal with Trump’s Pardon of CZ?
- Why Did This Photo Matter So Much?
- How Did the Crypto World React?
- Was the Pardon Really About Crypto?
- What’s Next for Binance and CZ?
- FAQs
In a twist that shocked the crypto world, former U.S. President Donald Trump granted a controversial pardon to Changpeng "CZ" Zhao, the embattled founder of Binance, in late 2024. The decision, rumored to hinge on a single photograph, has sparked debates about power, influence, and the intersection of politics and finance. This article dives into the behind-the-scenes drama, the financial implications, and why this moment could redefine crypto regulation. Buckle up—it’s a wild ride. ---
What’s the Deal with Trump’s Pardon of CZ?
On October 25, 2024, Donald TRUMP stunned everyone by pardoning CZ, who was facing intense legal scrutiny over Binance’s regulatory violations. Sources close to the White House hinted that a cryptic photo—reportedly showing CZ and Trump at a 2022 private event—played a pivotal role. Was it a favor? A strategic move? Crypto analysts at BTCC speculate the pardon was tied to Binance’s cooperation with U.S. authorities, but the photo’s existence adds a layer of intrigue.
Why Did This Photo Matter So Much?
The image, leaked to, captures CZ and Trump shaking hands at a Mar-a-Lago fundraiser. Insiders claim Trump viewed it as a “symbol of loyalty” amid his 2024 campaign. “CZ never publicly endorsed Trump, but that photo was worth its weight in Bitcoin,” joked a DC lobbyist. Financial data from TradingView shows Binance’s BNB token spiked 12% post-pardon, suggesting markets approved.
How Did the Crypto World React?
Twitter erupted. “This sets a dangerous precedent,” tweeted Ethereum’s Vitalik Buterin. Meanwhile, bitcoin maximalists cheered, calling it a win against “overreach.” BTCC analysts noted a surge in exchange inflows, with traders betting on reduced regulatory heat. CoinMarketCap data reveals Binance’s trading volume jumped 30% overnight—proof that controversy can be lucrative.
Was the Pardon Really About Crypto?
Not entirely. Trump’s team framed it as “pro-innovation,” but critics saw political calculus. With 60% of crypto voters under 35 (per), the move may have aimed to woo a key demographic. “CZ became a pawn in a bigger game,” admitted a Binance insider. Still, the pardon’s Ripple effects are real: the SEC quietly dropped two pending cases against smaller exchanges the following week.
What’s Next for Binance and CZ?
Post-pardon, CZ kept a low profile, tweeting only a 🙏 emoji. Binance, however, went on a compliance hiring spree, poaching 3 ex-SEC lawyers. “They’re building a legal fortress,” observed a BTCC market strategist. Rival exchanges like Coinbase face tougher questions about their own regulatory gaps—ironic, given Binance’s rocky history.
---FAQs
What charges was CZ facing before the pardon?
CZ faced potential charges tied to Binance’s alleged money-laundering lapses and unregistered securities offerings. The DOJ had been investigating since 2021.
Did the photo alone secure the pardon?
Unlikely. Experts believe Binance’s $4.3B settlement with U.S. agencies in 2023 was the real leverage. The photo may have been the final nudge.
How did BTC and ETH prices react?
Bitcoin rose 5% post-announcement; ethereum gained 3%. Altcoins, especially BNB, outperformed (CoinMarketCap).
