Crypto Market Update: Binance Eyes US Re-Entry Following Trump’s Pardon of Founder Changpeng Zhao
October 27, 2025 — By Giann Liguid and Meagen Seatter
Binance, the world’s largest cryptocurrency exchange by trading volume, is reportedly considering a return to the US market after a significant legal development involving its founder. The move follows former President Donald Trump’s pardon of Binance CEO Changpeng Zhao (CZ), clearing the way for Zhao to resume leadership on American soil.
Binance’s Path to US Market Re-Entry
On October 24, 2025, President Trump granted a pardon to Changpeng Zhao, who was convicted in 2023 for failing to maintain adequate anti-money laundering controls. The pardon wipes clean Zhao’s conviction record, restoring his standing to lead financial enterprises without the previous legal encumbrances.
In response, Bloomberg reported that Binance is actively exploring strategies to re-establish its presence in the United States. Options under consideration include consolidating its existing American affiliate, Binance.US, or potentially allowing direct access for US investors to the global Binance platform.
Shortly after the pardon announcement, Zhao voiced his ambitions to make the United States the “Capital of Crypto,” aiming for broader adoption and expansion of Web3 technologies globally. Binance’s native token, BNB, surged approximately 8% in the wake of these developments. Currently, Binance oversees a blockchain ecosystem managing around US$8.7 billion in assets, placing it third behind major platforms Ethereum and Solana.
Bitcoin and Ether Show Strength Amid Rate-Cut Speculation
The wider cryptocurrency market showed positive momentum at the start of the week, with key assets like Bitcoin and Ether reaching multi-session gains.
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Bitcoin (BTC) traded at US$115,014 as of Monday morning (UTC), marking a 0.9% increase over the last 24 hours. The cryptocurrency achieved a two-week high by breaking above US$115,600 on expectations of an imminent Federal Reserve interest rate cut. This marked its fifth consecutive day of gains, buoyed by a 2.6% surge on Sunday which pushed Bitcoin past the 50-day exponential moving average, sitting at US$114,176. Technical analysts are optimistic that this could signal the beginning of a fresh rally, contingent on continued market support and Federal Reserve policy clarity. Trader Ted Pillows noted on social media platform X that Bitcoin has "fully reclaimed the US$114,000 support zone" and identified US$118,000 as the next key resistance level. With sustained momentum, experts suggest Bitcoin could reach a new all-time high (ATH) within one to two weeks.
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Ether (ETH) was priced at US$4,167.45, showing a 1.5% increase. Prices fluctuated between US$4,053.35 and US$4,246.23 during the 24-hour period.
Other notable altcoins included:
- Solana (SOL): About US$200.39, largely unchanged over the day.
- XRP: Trading at US$2.62, down 0.7%, with daily highs and lows between US$2.60 and US$2.67. —
Derivatives Market Reflects Cautious Investor Sentiment
Bitcoin and Ether futures markets have reflected cautious positioning, with liquidations and open interest figures indicating a market bracing for volatility.
- Bitcoin contract liquidations totaled roughly US$6.42 million in the past four hours, predominantly on long positions—signaling short-term selling pressure.
- Ether liquidations were more balanced but still showed long positions leading, with US$15.55 million affected.
- Futures open interest declined modestly: Bitcoin’s fell by 0.5% to US$75.51 billion, and Ether’s by 0.57% to US$49.89 billion, possibly indicating renewed trading activity within altcoins.
- The perpetual funding rates for Bitcoin and Ether sit at 0.008 and 0.009 respectively, reflecting a mild long bias.
- Bitcoin’s Relative Strength Index (RSI) averaged 54.84, suggesting moderate bullish momentum with room before becoming overbought.
Other Key Developments in the Crypto Space
Japan Launches First Regulated Yen-Pegged Stablecoin
On October 27, Japan introduced JPYC, its first regulated yen-pegged stablecoin compliant with the Payment Services Act. JPYC is fully backed by yen deposits and government bonds, emphasizing consumer protection and financial stability. Over the next three years, JPYC aims to issue up to 10 trillion yen (around US$67 billion), challenging established stablecoins like USDC, which holds approximately US$40 billion globally.
JPYC transactions are designed with zero fees and capped at 1 million yen per transfer to align with regulatory guidelines. The project draws lessons from the 2022 TerraUSD collapse to safeguard market health.
American Bitcoin Strengthens Strategic Reserve
American Bitcoin (ABTC) recently expanded its Bitcoin holdings to 3,865 BTC by acquiring an additional 1,414 BTC through open-market purchases and in-house mining operations. This increase has raised ABTC’s Satoshis per Share (SPS) metric by 52% since early September. Their integrated mining approach allows them to secure Bitcoin at costs lower than external buying, a competitive advantage in the market.
Looking Ahead
Market watchers are closely monitoring the Federal Reserve’s upcoming decisions on interest rates, as well as regulatory developments like Zhao’s pardon and Binance’s possible US re-entry, both of which have the potential to significantly influence crypto valuations and industry growth.
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Disclosures: Writers Giann Liguid and Meagen Seatter hold no direct investment interests in companies mentioned.
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