Understanding King (Trump) this time's "Pardon Drama" is truly more exciting than a Hollywood script, with the show effect at its peak. While he was on television saying, "I don't know who he is," he pulled up the "number one player" in the crypto circle, Zhao Changpeng (CZ). This god-level operation is thanks to King; if it were someone else, they might not be able to pull it off.
Next, let's distill these hot details and core viewpoints to see what kind of political and business exchange and power shifts in the crypto world are hidden behind this "CZ Pardon" incident.
Act One: The President's "Confused Accounts" — The Core Highlights on 60 Minutes
Trump's Denial: "I don't know who he is"
Former U.S. President Trump recently gave a dramatic response during an interview with Norah O'Donnell on the show "60 Minutes" when faced with sharp questions about pardoning Binance founder Zhao Changpeng (CZ): "I don't know who he is."
Avoiding the Reason for Pardon: When asked why he pardoned this crypto giant, who was previously accused by the government of "causing significant harm to U.S. national security" (involving the transfer of funds to terrorist organizations), Trump directly distanced himself, claiming he only knew that CZ had a sentence of about 4 months and blamed CZ's conviction on the Biden administration's "political witch hunt."
Directly Addressing the Exchange of Interests: Norah O'Donnell pressed on, throwing out the core question — "After Binance assists in completing a $2 billion purchase of WLFI stablecoin in 2025, you immediately pardon Zhao Changpeng. How do you respond to the allegations of an exchange of interests?"
King's Universal Response: Trump continued to play it cool, stating he "knew nothing about it because he was busy with other matters." **However, he did emphasize that his son was involved in the crypto industry and praised that *"crypto is a good industry," but stressed that they are engaged in business rather than government affairs.*
Act Two: The Core of the Incident — Why the Sudden Pardon for CZ?
On October 24, 2025, Trump exercised his presidential privilege of "pardon" to wipe out the federal charges against CZ for violating anti-money laundering laws.
This not only serves as CZ's personal "get out of jail free card" but also completely clears the biggest historical burden for Binance's expansion in the U.S. market during Trump's presidency. CZ subsequently publicly thanked him and stated he would "do his utmost to help the U.S. become the cryptocurrency capital."
Three Perspectives to Deeply Analyze the Pardon Case
Perspective
Core Viewpoint
Detail Connection
Political and Business Exchange
The pardon is not merely a "grace outside the law," but a potential exchange of "political pardon" and "business assistance."
Before the pardon, Binance had already deeply bound itself with Trump's family's crypto enterprise WLF, assisting it in investing up to $2 billion in USD1 (WLF stablecoin). More "coincidentally," shortly after the SEC approved the listing of USD1, it withdrew its key lawsuit against Binance.
Trump's "Crypto Strategy"
A 180-degree turn in attitude: from a skeptic to fully shaping the image of the "crypto president."
The core motivation is voter politics. The tens of millions of crypto holders in the U.S. are an emerging young voter group that cannot be ignored. By pardoning CZ and calling for the establishment of a Bitcoin reserve, Trump aims to harvest political support from this group.
Industry Turning Point
Leading companies move from the "regulatory blacklist" to "institutional players," marking the industry's "coming of age."
The pardon symbolizes the crypto industry bidding farewell to reckless growth and beginning to enter a compliance phase welcomed by power. The future game rules will be stricter but will also attract more traditional capital to flow in.
Act Three: Market Impact and Future Trends
1. Caixin's "Old News" and Strategic Signals
The authoritative media outlet Caixin timely released a special report on CZ after the pardon, in which he suggested that China "seriously consider issuing a RMB stablecoin." Although CZ later clarified that the interview took place before the pardon, the timing and content of the report were widely interpreted by the market as a strategic signal that Binance intended to release.
2. Targeting the Eastern Market: Binance's Strategic Ambition
After obtaining the "pardon" in the U.S., Binance's strategic intent is very clear: accelerate its return to the Eastern market.
CZ emphasized in the interview that RWA (real-world assets) is the core battlefield of the future. Considering the vast potential user base in mainland China, Binance is expected to gradually penetrate the market through technological cooperation and the development of crypto products linked to the RMB within a compliance framework.
3. Market Impact: Political Risks on the Table
The implementation of the pardon catalyzed capital inflow, with BNB trading volume and price quickly surging in the short term, forming a policy-driven "quick rise and quick fall" pattern.
However, in the long term, while the pardon erased CZ's historical blemish, it introduced a new "political uncertainty" variable for crypto assets. Geopolitical events are replacing fundamentals as the core external factor driving the trends of specific assets. The industry's game has escalated into a three-dimensional chess game of "technology-regulation-politics," with political risk becoming an essential strategic variable that cannot be ignored.
Conclusion: This Operation is Impressive
This pardon case is a living "political and business drama."
"King" not only distanced himself from the suspicion of an exchange of interests with a simple "I was unaware," but also successfully harvested the electoral benefits of being the "crypto president." Meanwhile, CZ and Binance used this political pardon to shed their biggest historical burden, embarking on global expansion with a $2 billion "tailwind," especially in the strategic layout of the Eastern market. This operation is impressive.
What do you think of Trump's "I was unaware" response?
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