TLDR
- Polymarket bettors increased their odds of Changpeng Zhao returning to Binance following his pardon by President Trump.
- The odds of Zhao’s return surged to 82%, a significant rise from 14% earlier in the week.
- By Friday evening, the odds settled at 36%, reflecting ongoing uncertainty about his future at Binance.
- President Trump granted a pardon to Zhao after he pleaded guilty to money laundering violations at Binance.
- As part of the resolution, Binance agreed to pay $4 billion in forfeiture, and Zhao was fined $50 million.
The odds of Changpeng Zhao, the former CEO of Binance, returning to the cryptocurrency exchange have seen a significant rise. This surge followed news that U.S. President Donald Trump had pardoned Zhao on Thursday. The new odds on Polymarket now stand at 82%, marking a sharp increase from 14% earlier in the week.
Polymarket Odds Surge for CZ’s Return
Polymarket bettors’ views on Zhao’s return to Binance changed drastically after the pardon announcement. On October 23, the odds of Zhao’s release stood at just 14%. By the following Friday, the odds surged to 82%, showing the market’s reaction to the news.
However, by Friday evening, the odds had stabilized at 36%. The rapid fluctuation indicates ongoing uncertainty about Zhao’s future with the company. Despite the spike, the market remains divided on whether Zhao will return to Binance by December 31, 2025.
Trump’s Pardon and Its Impact on Binance Whale’s Future
Changpeng Zhao received a presidential pardon after pleading guilty to money laundering violations at Binance. As part of the agreement, Binance will pay over $4 billion in forfeiture. Zhao, the Binance whale, will pay a $50 million fine as part of his resolution.
White House Press Secretary Karoline Leavitt explained that President Trump used his authority to grant clemency. She added that the Biden Administration had prosecuted Zhao as part of their stance on cryptocurrency. Leavitt further emphasized that no fraud or victims were associated with Zhao’s actions.
Following the pardon, Zhao expressed his gratitude to President Trump. On X (formerly Twitter), he thanked his supporters and vowed to help make America the capital of crypto. Zhao also teased an upcoming project, promising further updates soon.
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