Bitget App
Trade smarter
Open
HomepageSign up
Bitget>
News>
Markets>
Trump’s CZ Clemency Lifts Crypto Market, Yet Legal Analysts Skeptical About SBF Receiving Pardon

Trump’s CZ Clemency Lifts Crypto Market, Yet Legal Analysts Skeptical About SBF Receiving Pardon

Bitget-RWA2025/10/24 10:48
By: Bitget-RWA
- Trump pardoned Binance’s CZ, boosting Bitcoin 2.7% to $110,700 and reigniting crypto market optimism. - Legal experts doubt SBF’s pardon chances despite rising Polymarket odds, citing his 25-year fraud sentence versus CZ’s compliance issues. - Market frenzy saw $6.6M staked on SBF’s release (15.5% odds) and 36% chance of CZ’s Binance return by year-end. - Global moves included Kyrgyzstan’s CBDC partnership and Canada’s diplomatic push to reduce U.S. economic dependence.

LookOnChain’s assessment.>

On October 24, 2025, the cryptocurrency sector experienced a dramatic resurgence after U.S. President Donald

issued a complete pardon to Binance’s founder Changpeng "CZ" Zhao. This decision propelled up by 2.7%, pushing its value past $110,700, and reignited debates about possible pardons for other prominent industry figures. Trump described his action as a move to "reverse the Biden administration’s approach to cryptocurrency," which immediately drew parallels to the situation of former FTX CEO Sam Bankman-Fried (SBF). Following the news, Polymarket betting odds for an SBF pardon jumped from 5.6% to 12%, according to a .

Trump’s CZ Clemency Lifts Crypto Market, Yet Legal Analysts Skeptical About SBF Receiving Pardon image 0

Despite the excitement, legal professionals and market analysts remain doubtful about SBF’s likelihood of receiving clemency. Jake Chervinsky, a lawyer specializing in crypto, described the notion of pardoning SBF as "genuinely shocking," emphasizing that SBF’s 25-year sentence for fraud and misappropriation of billions in customer assets is far more serious than CZ’s regulatory violations. Sasha Hodder, founder of Hodder Law, pointed out that "CZ was never accused of misusing client funds or committing fraud," and noted that Binance "functioned as a legitimate exchange," as reported by Cointelegraph. At the same time, Trump justified CZ’s pardon, asserting that he was "targeted by the Biden administration" and that his actions "did not constitute a crime," according to a

.

The pardon triggered a surge of activity in financial markets. On Polymarket, traders wagered more than $6.6 million on SBF’s potential release, with the probability of his freedom climbing to 15.5%. Although CZ’s return to Binance remains uncertain, the likelihood briefly peaked at 82% for a year-end comeback before dropping to 36%. The wider crypto market, buoyed by Trump’s favorable stance, saw

trade near $3,850, while gold reached $4,099 per ounce, signaling a broader shift toward risk assets, as highlighted in the aforementioned LookOnChain analysis.

Outside the crypto world, global economic events contributed to the week’s turbulence. Blockchain company Sign revealed a collaboration with Kyrgyzstan’s central bank to introduce a central bank digital currency (CBDC) for 7.2 million people, highlighting the increasing adoption of digital assets in developing economies, according to a

. Meanwhile, Canadian Prime Minister Mark Carney, aiming to lessen reliance on the U.S., sought to deepen relations with Asian nations, including a possible meeting with Chinese President Xi Jinping to repair trade ties, as detailed in a .

The intersection of geopolitics and financial markets underscored a rapidly evolving environment. While Trump’s pardons hinted at a more lenient regulatory climate for crypto, instability in the Middle East persisted, with Turkish President Recep Tayyip Erdogan urging the U.S. to pressure Israel over ceasefire breaches in Gaza. These factors, along with ongoing U.S.-China trade discussions, kept investors cautious as they navigated a landscape shaped by shifting policies and economic signals, according to a

.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
PoolX: Earn new token airdrops
Lock your assets and earn 10%+ APR
Lock now!

You may also like

Regulatory transparency drives a boom in crypto ETFs, with major players such as T. Rowe Price joining the market

- Canary Capital launches first U.S. ETFs for Litecoin and HBAR on Nasdaq, enabled by SEC's post-shutdown regulatory clarity streamlining crypto fund approvals. - T. Rowe Price files active crypto ETF targeting 5-15 assets including Bitcoin, while Fidelity and Osprey expand offerings, signaling institutional adoption acceleration. - Over 155 crypto ETFs await approval as eased regulations and growing demand drive market maturation, with analysts predicting over 200 listings in the next year.

Bitget-RWA2025/10/27 21:32
Privacy, Reimagined
Horizen2025/10/27 21:24
Bitcoin News Update: The Appeal of Bitcoin Compared to Liquidity Concerns: S&P Removes Strategy from Index

- S&P Global downgraded Strategy Inc. to junk status, removing it from the S&P 500 due to heavy crypto exposure and liquidity risks. - The company holds 640,808 BTC ($74B) but faces $15B in convertible debt, risking asset liquidation if Bitcoin prices drop. - CEO Michael Saylor remains bullish, aiming for a $2T Bitcoin portfolio by 2040 despite market volatility and mixed crypto treasury results. - JPMorgan and others are adapting to crypto, allowing digital assets as loan collateral, signaling growing ins

Bitget-RWA2025/10/27 21:12

Trending news

More
1
Regulatory transparency drives a boom in crypto ETFs, with major players such as T. Rowe Price joining the market
2
Privacy, Reimagined

Crypto prices

More
Bitcoin
Bitcoin
BTC
$114,167.26
+0.99%
Ethereum
Ethereum
ETH
$4,108.77
+1.23%
Tether USDt
Tether USDt
USDT
$1.0000
-0.00%
XRP
XRP
XRP
$2.63
+0.52%
BNB
BNB
BNB
$1,137.41
+0.97%
Solana
Solana
SOL
$198.07
+0.48%
USDC
USDC
USDC
$0.9999
+0.00%
Dogecoin
Dogecoin
DOGE
$0.2013
+0.23%
TRON
TRON
TRX
$0.2987
+0.00%
Cardano
Cardano
ADA
$0.6678
-0.45%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now
Trade smarter