Trump Pardons CZ as T. Rowe Price Enters the Crypto ETF Race
The official pardon of Changpeng "CZ" Zhao the former CEO of Binance by President Donald Trump represents a significant...
Quick overview
- President Trump officially pardoned Changpeng 'CZ' Zhao, signaling a shift in U.S. cryptocurrency policy and ending the Biden administration's perceived 'war on cryptocurrency.'
- Zhao's pardon raises questions about his potential return to Binance management despite previous compliance violations and penalties totaling $4.3 billion.
- The cryptocurrency industry is experiencing renewed confidence, as evidenced by a 2% increase in Bitcoin's value following the pardon announcement.
- T. Rowe Price has filed to launch its first actively managed cryptocurrency ETF, marking a significant step in the integration of traditional finance with the crypto market.
The official pardon of Changpeng “CZ” Zhao the former CEO of Binance by President Donald Trump represents a significant shift in U.S. cryptocurrency policy. The action marks the conclusion of what the Trump team referred to as the Biden administration’s “war on cryptocurrency” and implies a more relaxed approach to crypto regulation.
According to White House Press Secretary Karoline Leavitt the former government improperly singled out Zhao and other cryptocurrency leaders without any proof of wrongdoing .She proclaimed “The Biden Administration’s war on crypto is over.” The decision has not yet been addressed by Binance.
Zhao admitted to compliance violations that resulted in Binance paying $4.3 billion in penalties and in 2023 he was given a four-month prison sentence and a $50 million fine. Even though CZ’s previous plea agreement contained a lifetime leadership prohibition the pardon raises concerns about whether he may return to manage Binance.
Analysts view this pardon as a major increase in confidence for the cryptocurrency industry which has long pushed for regulatory certainty in the United States. Bitcoin increased by more than 2% after the statement showing a resurgence of investor and trade mood.
Ben Chow of Meteora is the target of a memecoin lawsuit.
Another major development is the class action lawsuit against Ben Chow a co-founder of Meteora claiming that he operated a memecoin fraud operation. According to the lawsuit Chow and his associates introduced a minimum of fifteen memecoins such as Melania and Libra and used well-known names such as Melania Trump and Argentina’s president Javier Milei to draw in customers.
These tokens reportedly followed a pump-and-dump pattern with values skyrocketing shortly after introduction and then plummeting as developers allegedly liquidated their holdings according to the complaint. Claiming that he was not given tokens or insider information Chow has refuted the allegations. At the beginning of the dispute this year he quit his job at Meteora.
Bitcoin Miners Turn to AI Profits
There is a rising gap between Bitcoin mining stocks and BTC prices according to a recent JPMorgan analysis. In an effort to keep profitability and diversify their revenue streams miners have been using AI technology more and more since July.
According to JPMorgan experts the cost of mining one Bitcoin is approximately $92,000 and after the 2028 halving it may increase to $180,000. Miners are being forced to look for other sources of income due to rising hardware and energy prices. The AI shift is expected to help larger mining companies, while smaller operators would look to assets like Ethereum and Solana.
Price Files for First Crypto ETF by T. Rowe Price
To introduce its first actively managed cryptocurrency ETF legacy asset manager T. Rowe Price, which manages $1.77 trillion in assets has submitted a filing to the SEC. The fund’s goal is to beat the FTSE Crypto US Listed Index by investing in popular cryptocurrencies like Bitcoin, Ethereum, Solana and XRP.
Experts in finance consider this action to be a significant turning point. It illustrates how traditional finance is adopting cryptocurrency according to Nate Geraci, president of NovaDius Wealth Management. “It is not a smart business strategy to hope that cryptocurrency disappears,” he said.
MegaETH Verifies Whitepaper Disclosure
The Ethereum Layer 2 project the internet leak of MegaETH’s MiCA-compliant whitepaper has been confirmed. According to the document a regulated MEGA token sale will be held with 53.3% set up for staking rewards and 9.5% going to the team.
The new cryptocurrency regulations from the EU which give ordinary investors more access through authorized custodians will govern MegaETH’s operations. The group did acknowledge, though that tight identity verification and disclosure guidelines might prevent wider involvement.
🚨 BREAKING: PRESIDENT TRUMP PARDONS BINANCE FOUNDER CZ 🇺🇸
The unexpected twist no one saw coming.
CZ… once at the center of U.S. regulatory fire, now walks free under Trump’s administration.
CRYPTO markets are already reacting… and this could mark the start of a new era… pic.twitter.com/rfW6x74bGq
— Wise Advice (@wiseadvicesumit) October 23, 2025
Overall it appears that cryptocurrency is about to enter a new era of legitimacy and growth as evidenced by Trump’s pardon of CZ and the increasing participation of established financial companies like T. Rowe Price. This trend further supports Bitcoin’s hopeful outlook.
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