The move was confirmed by Binance, and follows months of speculation and lobbying. The decision now allows Zhao — who pleaded guilty in 2023 to violating the Bank Secrecy Act — to potentially return to an executive role at the exchange. The news also sent shockwaves through the crypto market, with Binance’s native token BNB surging 3.6% to an intraday high of $1,121 before stabilizing around $1,137. Traders across X hailed the decision as a catalyst for a renewed market rally, with some predicting the start of a broader altcoin season. World Liberty Financial (WLFI), which is linked to Donald Trump Jr., also jumped by close to 14%. With BNB newly listed on Coinbase and Robinhood, and public companies like Applied DNA Sciences adding it to their treasuries, Trump’s pardon reignited optimism across the crypto space. CZ Receives Full Presidential Pardon US President Donald Trump officially pardoned Changpeng “CZ” Zhao, the founder and former CEO of Binance, making it one of the most significant acts of clemency in the crypto industry’s history. The news was first reported by The Wall Street Journal and later confirmed by Binance. The pardon also follows months of speculation, lobbying, and behind-the-scenes appeals from both the exchange and Zhao himself. According to people familiar with the matter, Trump signed the pardon on Wednesday, although it has not yet appeared on the White House website or in the Federal Register, where presidential pardons are usually published. Binance later expressed gratitude toward the US president. “Incredible news of CZ’s pardon today. We thank President Trump for his leadership and for his commitment to make the US the crypto capital of the world,” the company said, adding that Zhao’s vision helped shape the global digital asset movement. Zhao’s legal troubles began in November of 2023 when he pleaded guilty to violating the Bank Secrecy Act by failing to maintain an adequate Anti-Money Laundering (AML) program at Binance. As part of the plea agreement, he stepped down as CEO and later served a four-month prison sentence beginning in April 2024. He was released in September, after which rumors began to circulate that a pardon could be forthcoming. Speculation intensified over the past few weeks after Zhao quietly removed the “ex-@binance” tag from his social media bio, which was quickly interpreted by many as a signal of his possible reinstatement. Betting markets also reflected growing confidence in a pardon, with political commentators like Fox News’ Charles Gasparino reporting that Trump was “leaning toward” granting it. The pardon now potentially clears the way for Zhao to return to an executive role at Binance, which was previously prohibited under his plea deal. If confirmed, it will be a dramatic comeback for one of crypto’s most influential people. Trump’s decision continued his trend of granting clemency to big names in the digital asset space, following previous pardons for BitMEX founders Arthur Hayes and his co-executives, as well as Silk Road creator Ross Ulbricht. Traders Bet on BNB Rally Crypto markets reacted quickly to the news of US President Donald Trump pardoning, and traders now predict a major rally for BNB and a potential broader altcoin surge. BNB climbed 3.6% to an intraday high of $1,121 shortly after the news broke. At press time, BNB was trading at $1,137.85. Traders on X celebrated the move . “Trump just pardoned CZ. Now we resume $BNB up only szn,” wrote trader Xeer, capturing the market’s bullish sentiment. The momentum extended beyond Binance’s native token. World Liberty Financial (WLFI), the token linked to Donald Trump Jr.’s crypto venture, jumped by close to 14% to $0.1414, according to CoinMarketCap . Some market participants interpreted this as the beginning of a wider “altcoin season.” WLFI’s price action over the past 24 hours (Source: CoinMarketCap ) RR2Capital co-founder Richard Seiler said that the crypto sector “could do with a catalyst right now… That may very well have been it,” and suggested that the pardon might trigger renewed enthusiasm across the market. Adding fuel to the optimism, BNB has seen growing institutional and public treasury interest. The token was listed this week on both Coinbase and Robinhood, which expanded its accessibility to US investors. In a surprising move, biotech company Applied DNA Sciences also revealed it purchased 4,908 BNB—worth approximately $5.3 million. This sent its stock soaring by more than 50% during Wednesday’s trading session. The combination of political developments, corporate accumulation, and renewed investor excitement positions BNB at the center of the market’s latest bullish narrative, with traders betting that the rally could extend well beyond Binance’s ecosystem.