Title: Trump's "I Don't Know Him" Defense: A Crypto Pardon Fueled by Future Plays?
The dance around crypto and politics just got a whole lot stranger. Donald Trump, when questioned about his pardon of Changpeng Zhao (or "CZ," as he's known), the crypto mogul behind Binance, claimed ignorance. "'I don't know who he is,' says Trump after pardoning crypto tycoon" Trump stated in a 60 Minutes interview. This, despite Zhao pleading guilty to enabling money laundering and the pardon conveniently lifting restrictions that hampered Zhao's financial ventures.
The Curious Case of the Crypto Pardon
Let's break this down. Trump claims no knowledge of Zhao. Yet, Zhao's companies have partnered with firms linked to Trump, including Dominari Holdings, where Trump's sons are advisors. This isn’t some random connection; it's a web of financial interests operating right under Trump Tower. Is it plausible that Trump is completely unaware of these connections? Perhaps. Is it probable? The data suggests otherwise.
White House Press Secretary Karoline Leavitt called Zhao's prosecution a "war on cryptocurrency" by the Biden administration. She framed the pardon as correcting an "overreach." But this narrative conveniently ignores Zhao's guilty plea and the "significant harm to US national security" cited by prosecutors.
The Trump administration previously halted a fraud case against crypto entrepreneur Justin Sun after Sun invested in the Trump family's crypto firm, World Liberty Financial. In May, it was announced that a stablecoin launched by World Liberty Financial would be used by an Abu Dhabi firm for a $2 billion investment in Binance. See a pattern emerging?
I've looked at hundreds of these types of arrangements, and the "coincidences" are usually not. They're signals. This isn't just about pardoning a crypto figure; it's about laying the groundwork for future financial opportunities in the digital asset space. The pardon, in effect, clears the path for Zhao to potentially re-engage with Binance or other ventures without the previous legal constraints.
The Solana ETF Gambit: A Glimpse into the Future?
Fast forward to October 2025. New crypto spot ETFs are hitting the market, allowing easier investment in lesser-known cryptocurrencies. The Bitwise Solana Staking ETF (BSOL) had the best ETF launch of 2025 in any asset class, according to Bloomberg Intelligence analyst Eric Balchunas. On Thursday, BSOL saw $46 million of trading volume in its third day. The Canary Hedera and Litecoin ETFs saw roughly $2.3 million and $500,000, respectively, in their third day.
This surge in Solana ETF popularity is not accidental. It's a sign that the crypto market is maturing and diversifying. Under the Trump administration, the floodgates for spot crypto ETFs flew open after the SEC updated its guidance in July. The recently launched ETFs for Solana, Hedera, and Litecoin appear to make use of new guidance that the SEC issued at the start of the ongoing federal government shutdown.
What does Solana have to do with Trump and Zhao? Indirectly, everything. The pardon of Zhao signals a pro-crypto stance. The launch of Solana ETFs represents the growing accessibility and acceptance of digital assets. These events, while seemingly disparate, are part of a larger trend. The SEC updated its guidance in July. (That's the key date to remember.)
The question now becomes: what other crypto-related ventures might be in the works, and how might those ventures benefit from a more favorable regulatory environment under a potential future Trump administration?
The Data Doesn't Lie: It's a Calculated Risk
Trump's "I don't know him" defense is a smokescreen. The pardon wasn't about ignorance; it was about opportunity. It's a calculated bet on the future of cryptocurrency, and a potential boon for those positioned to capitalize on it.
