Key Developments in Crypto and Politics
In a surprising turn of events, President Donald Trump has pardoned Changpeng Zhao (CZ), the founder of Binance, effectively overturning his 2023 money laundering conviction. This significant action has sent ripples through the cryptocurrency community and highlighted a prescient bet made by trader Garrett Jin on Polymarket.
Jin, known on the platform as “bigwinner01,” placed a single, highly profitable position predicting CZ’s pardon in 2025. This foresight resulted in a $56,000 profit when the outcome materialized. Blockchain analytics from Arkham indicate Jin’s intricate financial activities, including multiple Ethereum (ETH) transfers and stablecoin transactions linked to his Polymarket and Bitforex accounts.
Controversy Surrounds Trump’s Stablecoin Investment
The pardon occurred in the wake of a $2 billion investment in Binance using the Trump family’s USD1 stablecoin. This transaction has drawn scrutiny regarding potential conflicts of interest, particularly in relation to their World Liberty Financial venture. Critics suggest this move indicates a pro-cryptocurrency stance within Trump’s administration, characterized by a loosening of regulations and advocacy for digital assets.
Jin’s success on Polymarket, a decentralized prediction market, underscores the platform’s increasing significance. His bet demonstrates either exceptional foresight or the possession of insider information. His transaction history, marked by substantial ETH inflows and outflows, confirms his deep integration within the crypto ecosystem, including prior involvement with Bitforex.
Implications for Binance and Garrett Jin’s Profile
This development has revived discussions concerning the interplay between political power and the cryptocurrency sector. While some view it as a triumph for innovation, others have labeled it as an act of corruption. For market participants, Jin’s substantial win serves as a compelling example of the predictive capabilities of decentralized markets.
As the cryptocurrency industry continues its expansion, Polymarket’s valuation, reportedly reaching up to $15 billion, signifies its growing influence. With his legal challenges resolved, CZ may potentially resume a prominent leadership role at Binance, which could lead to significant shifts in the global cryptocurrency landscape.