President Trump’s unexpected pardon of Changpeng Zhao (CZ), the founder of Binance, one of the world’s leading cryptocurrency exchanges, has sent shockwaves through the market. This development comes amid a potential meeting between Trump and Chinese President Xi Jinping, which was confirmed by the White House earlier today. Following the announcement, cryptocurrency markets witnessed an immediate surge, with Binance Coin (BNB) rallying 5% and Bitcoin exceeding $111,000. CZ expressed his gratitude for the pardon via social media, pledging to use it as a platform to propel the United States as the global hub of cryptocurrency innovation. Richard Teng, Binance’s new CEO, highlighted CZ’s pardon as a milestone not only for his personal journey but also for the cryptocurrency industry’s progress. He emphasized Binance’s dedication to enhancing access and reducing fees while fostering trust and innovation on a global scale. 5% price increase in BNB following the news has been attributed to this development. 6% market cap surge is observed in both Bitcoin and Ethereum as well.