Trump tariff short trader who made $200M correctly predicts Binance’s CZ pardon
Binance founder Changpeng Zhao confirmed in an Oct. 23 submit on X that he has obtained a pardon from US President Donald Trump.
He stated:
“Deeply grateful for immediately’s pardon and to President Trump for upholding America’s dedication to equity, innovation, and justice. Will do every thing we will to assist make America the Capital of Crypto and advance web3 worldwide.”
Cardano founder Charles Hoskinson congratulated Zhao on the milestone, saying the US President has corrected a grave injustice from the earlier administration’s battle towards crypto.
Hoskinson wrote:
“The weaponization of the justice division towards our trade and its entrepreneurs ought to have by no means occurred. It was and nonetheless is a deep wound that may take a very long time to heal.”
According to CryptoSlate’s knowledge, the information helped enhance BNB’s worth by 5.38% to $1,132 as of press time. The digital asset is 17% under its all-time high of $1,370.
Meanwhile, this information adopted practically a 12 months of quiet lobbying from Zhao’s authorized crew.
In May, he acknowledged that his attorneys had petitioned the US government for clemency. Traditional shops later speculated that the trouble would possibly contain personal monetary hyperlinks between Trump-affiliated entities and Binance or a cooperation deal focusing on different crypto executives, corresponding to Tron founder Justin Sun.
Zhao publicly rejected those claims, labeling them politically charged and “with out factual foundation.”
Zhao resigned from Binance in November 2023 after pleading responsible to a US money-laundering cost. He served a four-month sentence and completed it in September 2024.
Since his launch, he has stated he is not going to return to the alternate however as an alternative concentrate on new ventures in blockchain analysis, AI investments, and his schooling nonprofit, Giggle Academy.
Insider buying and selling?
Meanwhile, the information surrounding Zhao’s launch has spilled into the buying and selling area.
On prediction market Polymarket, crypto trader Garrett Jin reportedly wagered that Trump would pardon Zhao this 12 months.
With the information now spreading, that single guess has turned a modest stake into roughly $56,000 in positive factors, based on blockchain evaluation platform Arkham Intelligence.
Jin was already identified in crypto circles for timing main market strikes with uncanny precision. Earlier this month, he opened giant short positions on Bitcoin and Ethereum on Hyperliquid, moments earlier than Trump introduced sweeping 100% tariffs on Chinese imports.
Those leveraged trades, value greater than $700 million, yielded income estimated between $160 million and $200 million as prices collapsed within the hours following the announcement.
The repetition of such well-timed bets, first forward of a presidential tariff submit and now previous a reported pardon, has reignited long-standing suspicions of insider entry inside the presidency.
However, Jin has firmly denied any Trump-family connection.
Still, the 2 coincidences illustrate a rising actuality in crypto that each coverage transfer from Washington now carries market penalties that unfold in seconds.
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