Trump’s CZ Clemency Lifts Crypto Market, Yet Legal Analysts Skeptical About SBF Receiving Pardon
- 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.
On October 24, 2025, the cryptocurrency sector experienced a dramatic resurgence after U.S. President Donald
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
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
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.
You may also like
XRP News Today: Selig's CFTC Nomination Sparks Discussion: Balancing Progress and Oversight in the Future of Cryptocurrency
- Trump's nomination of SEC crypto expert Selig to lead CFTC sparks debate over crypto regulation balance between innovation and oversight. - Bipartisan legislation aims to expand CFTC's authority over spot crypto trading and tokenized assets amid jurisdictional disputes with SEC. - Stablecoin regulation becomes focal point as $4T+ annual volume raises concerns about reserves, systemic risks, and UK regulatory alignment. - Political divisions persist with Democrats accusing Republicans of crypto lobbying w

Trump’s CFTC Pick Aims to Close SEC Gap in Cryptocurrency Regulation
- Trump nominated SEC crypto task force chief Michael Selig to lead the CFTC, signaling a strategic shift toward unified crypto regulation. - Selig's expertise in bridging SEC-CFTC oversight gaps positions him to accelerate regulatory harmonization for digital assets and derivatives. - The appointment follows failed attempts to appoint industry-linked candidates and aligns with bipartisan efforts to clarify the CFTC's authority over crypto markets. - Selig's confirmation would advance Trump's agenda to est

Morph and Bitget Advocate for Real-Time, Global Stablecoin Transactions Accessible to Billions
- Morph, an Ethereum Layer 2 network, partners with Bitget to rebrand as a global stablecoin settlement layer, targeting trillion-dollar payment markets with 10,000+ TPS and zero-trust security. - Stablecoin circulation hit $310B in 2025, with $27.6T in 2024 transaction volumes, as Bitget integrates its BGB token for gas and governance to enable instant cross-border payments. - The collaboration aims to unify trading, payments, and DeFi under Bitget's Universal Exchange vision, leveraging 120M+ users and m

Emotional Connections Drive $HUGS: Where Fan Culture and Financial Innovation Converge
- Milk Mocha's $HUGS token leverages 20M+ fanbase of cartoon bears to build emotional loyalty, differentiating from speculative crypto projects. - Staking offers 50% APY with auto-compounding, while NFTs and deflationary mechanics create cyclical demand for the token. - HugVotes DAO grants governance rights to holders, aligning Web3 principles with community-driven development and charity partnerships. - Family-friendly branding and utility-driven design position $HUGS as an accessible bridge between mains
