Bitcoin News Today: Trump's Pardon for CZ Aims to Make U.S. Crypto Capital as Market Rises

The U.S. cryptocurrency landscape is undergoing a pivotal shift as Binance founder Changpeng Zhao (CZ) secures a presidential pardon from Donald Trump, marking a significant development in the sector's regulatory and political dynamics, according to a TradingView digest. The pardon, confirmed on October 23, 2025, follows a legal battle that saw CZ convicted of violating U.S. anti-money laundering laws in 2023, resulting in a $50 million fine, a four-month prison sentence, and his temporary step down as CEO. Trump, who has positioned himself as a crypto-friendly leader, described the Biden-era penalties as "overreach" and pledged to restore CZ's standing in the U.S. market, according to a Benzinga report.

The news sent ripples through the crypto market, with Binance's native token BNB surging 5.1% to an intraday high of $1,138, as TradingView also noted. CZ expressed "deep gratitude" for the pardon and vowed to advance the U.S. as a "capital of crypto," aligning with his broader vision to promote blockchain innovation, a sentiment reported by Benzinga. The pardon also drew attention to Binance's ties to Trump's crypto ventures, including its partnership with World Liberty Financial USD, a stablecoin backed by the Trump family, which Benzinga similarly highlighted.

Meanwhile, the broader crypto market is showing signs of recovery, with the total market cap rising 1.7% to $3.8 trillion as Bitcoin reclaimed $111,353 and Ethereum neared $4,000, according to a Crypto.news roundup. This upward trend coincided with a massive $506 million XRP transfer between anonymous wallets, sparking speculation about institutional activity and potential price catalysts — a movement TradingView highlighted — and analysts note that such large-scale movements often signal strategic positioning ahead of regulatory clarity or market shifts.

A separate development further underscored the sector's volatility: a dormant Satoshi-era Bitcoin wallet, untouched for over 14 years, recently moved $440 million in BTC, another event reported by TradingView. The activation of such historic accounts, often linked to early adopters or institutional holders, typically signals confidence in Bitcoin's long-term value proposition.

In a broader industry trend, crypto buybacks are emerging as a key tool for stabilizing token prices and reducing selling pressure. Hyperliquid, a leading decentralized exchange, dominated 2025's buyback activity with $644 million in repurchases, accounting for nearly half of the $1.4 billion total volume, according to a Coinotag report. These efforts, coupled with initiatives from projects like LayerZero and Pump.fun, highlight a growing emphasis on token economics management to enhance scarcity and investor confidence.

The market's positive momentum was further bolstered by geopolitical developments, including the confirmed Trump-Xi meeting in South Korea, which eased trade war fears and fueled a relief rally across risk assets, as Crypto.news also noted. With the U.S. CPI data pending and regulatory uncertainty lingering, traders remain cautiously optimistic about sustained growth in the fourth quarter.