Washington, D.C. — Thursday Update
In a shocking political move, U.S. President Donald Trump has granted a full pardon to Changpeng Zhao (CZ), the founder of Binance, the world’s largest cryptocurrency exchange.
The decision comes nearly two years after Zhao pleaded guilty to failing to maintain anti-money-laundering controls at Binance.
According to Reuters, the White House said the pardon aims to “end the war on crypto” started under the previous administration. Zhao had served four months in prison in 2024 and paid a $50 million fine, while Binance paid over $4.3 billion in penalties.
Market Reaction: Crypto Prices Drop Fast
The global crypto market responded almost immediately. Within hours of the news, Bitcoin (BTC) fell over 6%, Ethereum (ETH) dropped nearly 5%, and BNB, Binance’s native token, slid more than 10%.
Analysts say investors are reacting to regulatory uncertainty and profit-taking following weeks of strong price gains. The sharp decline highlights how political moves can quickly shake digital-asset confidence.
Why Traders Are Worried
Experts say the market drop isn’t just about short-term panic. Some investors fear that pardoning a high-profile figure like CZ could send mixed signals about fairness and accountability in crypto enforcement.
Others see the move as positive for innovation — but risky for trust. When legal outcomes appear unpredictable, traders often rush to secure profits and exit positions.
Impact on Nigerian Crypto Users
For traders and investors in Nigeria, the effects may be felt soon:
- Local exchanges could adjust peer-to-peer (P2P) rates due to global volatility.
- USDT, BTC, and BNB prices may swing more widely over the next few days.
- Nigerian regulators might monitor the situation closely, especially as the SEC continues shaping crypto-asset rules.
Related: Latest Crypto News in Nigeria
What to Watch Next
- BNB token recovery — Can Binance regain investor confidence?
- Regulatory reaction — Will the SEC or CFTC issue new crypto guidelines?
- African markets — Countries like Nigeria and Kenya could tighten oversight.
- Trump’s crypto policy — More pardons or business-friendly reforms could follow.
Expert Insight
Financial observers note that Trump’s pardon could mark a shift toward pro-crypto policies, but it also blurs legal accountability. If global enforcement weakens, investors might see crypto as less predictable — not safer.
The result: volatile prices, sudden reversals, and a greater need for clear regulation.
Final Thought
This pardon isn’t just a political gesture. It’s a turning point that tests how governments balance innovation and accountability in crypto.
The market’s drop today shows one thing clearly — confidence drives value. And when that confidence shakes, prices follow.
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