Market Impact of the Presidential Pardon on Crypto Assets

The recent presidential pardon granted to Changpeng “CZ” Zhao, the co‑founder of Binance, has triggered a cascade of reactions across the cryptocurrency market. While the pardon itself is a political event, its reverberations have been felt in asset prices, trading volumes, and investor sentiment.

Immediate Price Movements

On Thursday, October 24, several high‑market‑cap tokens exhibited notable gains:

  • Binance Coin (BNB) surged in the first trading hours, buoyed by Zhao’s public expression of gratitude toward the administration. Analysts noted that BNB’s movement was part of a broader rally that included Bitcoin (BTC), Ethereum (ETH), and World Liberty Financial (WLFI).
  • World Liberty Financial (WLFI), a token backed by the Trump family, leapt more than 12 percent, with its volume jumping 128 percent. This spike eclipsed the performance of BTC and ETH, highlighting the influence of politically connected projects.
  • Other assets such as Myx (MYX), Virtual (VIRTUAL), Zcash (ZEC), and WLFI (in the second listing) were among the top performers that day, indicating a broader market optimism following the pardon announcement.

Volatility and Market Sentiment

The market’s reaction was two‑fold. On one hand, the pardon was perceived as a positive signal for the U.S. cryptocurrency sector, prompting a surge in demand for tokens associated with Binance and the Trump family. On the other hand, criticism from prominent Trump supporters—most notably Joe Lonsdale—cast doubt on the ethical implications of the pardon. Lonsdale’s public condemnation of the decision added a layer of uncertainty, suggesting that the rally might be short‑lived if regulatory scrutiny intensifies.

Trading Behavior of Trump‑Linked Wallets

Earlier, on October 23, it was reported that wallets linked to the Official Trump (TRUMP) token were among the top recipients of the Meteora (MET) airdrop. These wallets immediately transferred their allocations to the OKX exchange. The swift liquidation of airdrop funds raised concerns about potential market manipulation and the concentration of token holdings in a few wallets. Analysts have linked this behavior to the broader narrative of “Trump‑connected corruption,” further complicating the token’s perception among investors.

Broader Market Context

Despite the localized enthusiasm for Trump‑aligned tokens, the overall market remained supportive of major cryptocurrencies. BTC finished the day with a modest 1 percent gain at $110,800, while ETH rose 2 percent to $3,940. These movements coincided with a positive sentiment across stocks and crypto ahead of the scheduled meeting between President Trump and Chinese President Xi Jinping. The convergence of geopolitical optimism and a high‑profile pardon has reinforced a bullish stance among many market participants.

Fundamental Snapshot of OFFICIAL TRUMP

The OFFICIAL TRUMP (TRUMP) asset, classified as a crypto_currency, closed at $5.86166 on October 22, 2025. Its 52‑week high reached $75.3518 on January 18, 2025, while the low fell to $1.20845 on January 17, 2025. With a market capitalization of approximately $1.17 billion, OFFICIAL TRUMP is a relatively small but increasingly scrutinized player in the ecosystem.

Conclusion

The presidential pardon has acted as a catalyst for both optimism and caution within the cryptocurrency landscape. While certain Trump‑aligned tokens and Binance’s native coin experienced significant gains, the accompanying scrutiny—both political and regulatory—remains a potential headwind. Investors and market observers will likely watch for further regulatory developments, especially concerning the concentration of token holdings and the implications of high‑profile political interventions.