Crypto Analysts Warn Of Fallout Of Binance Founder's Pardon

Benzinga

Analysts say Trump’s pardon of Binance founder Changpeng Zhao could upend the crypto landscape, potentially paving the way for Binance’s U.S. return. While Trump’s policies have boosted the industry, critics warn of ethical concerns and possible Democratic backlash if power shifts. Binance still faces restrictions under its plea deal.

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00:00It's Benzinga bringing Wall Street to Main Street.

00:02Analysts say Trump's partner to Binance founder Shang-Peng Zhao could reshape the crypto

00:06landscape, both regulatory and competitive fallout, according to WIRED. Analysts warned

00:11that if Democrats regain power in future elections, they may retaliate against the

00:14crypto industry with tighter regulation and reduced political support. Nick Carter of

00:18Castle Island Ventures said Trump's policies have benefited crypto, but criticized the

00:23administration's disregard for ethical concerns and the active industry involvement of Trump's

00:27sons. White House denied any conflicts of interest involving Trump or his family, though

00:31Zhao's record was clear. Binance remains bound by its plea deal barring U.S. operations, according

00:36to legal experts. Government can still release Zhao and Binance from these obligations, which

00:40could let the exchange re-enter the U.S. market. Industry figures warned that Binance's global

00:44scale, handling roughly $22 billion in daily trades, far surpassing Coinbase, poses a major

00:50threat to U.S. rivals.

00:52For all things money, visit Benzinga.com.

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