Title: Trump's Crypto Pardon: A Billion-Dollar Blind Spot?
Okay, so Trump pardoned Changpeng Zhao (aka "CZ"), the Binance guy who pleaded guilty to enabling money laundering. Trump claims he has "no idea who he is." Right. Let's unpack this, shall we?
The "I Don't Know Him" Defense
Trump's denial, broadcast on 60 Minutes, is... well, it's a choice. He claims he doesn't know CZ, that he was told CZ was a victim of a "witch hunt" by Biden. This, despite CZ's companies partnering with firms linked to Trump on crypto projects, including Dominari Holdings, where Trump's sons are advisors. The White House Press Secretary even called CZ's prosecution a "war on cryptocurrency." (A war that ended with a guilty plea, mind you).
The pardon itself raises eyebrows. It lifts restrictions preventing Zhao from running financial ventures. Will it affect his standing with US regulators or his role at Binance? Unclear. Details on the pardon's specifics are scant, but the timing is interesting, to say the least.
The Trump administration also halted a fraud case against crypto entrepreneur Justin Sun after Sun invested in the Trump family's crypto firm, World Liberty Financial. And let's not forget the pardons for the BitMEX founders (money laundering charges) and Silk Road's Ross Ulbricht. A pattern emerges, doesn't it?
The official story is that the pardon was to correct an "overly prosecuted case." But let's be real: is it likely that Trump signed off on this without knowing anything about CZ or the potential implications? The odds seem... low. According to Trump, 'I don't know who he is,' says Trump after pardoning crypto tycoon.
XRP's Resistance: A Microcosm of Crypto's Volatility
Meanwhile, in the actual crypto market, XRP is bumping its head against a $2.55 resistance. It slipped below $2.50 recently, down 1.2% to $2.49. We saw heavy institutional activity, with volume surging 85% above the recent average. (That's a whole lotta tokens changing hands.)
Three failed breakout attempts at $2.54–$2.55 defined the session, each with elevated sell-side volume. The digital asset traded between $2.49–$2.55 over the 24-hour session, with price action dominated by technical flows rather than fundamental drivers.
The 60-minute chart revealed brief attempts to reclaim $2.50. This suggests institutional reaccumulation around the $2.50 mark — a level historically associated with short-term liquidity traps. Despite the pullback, buyers have defended the psychological floor through multiple retests.
Market microstructure analysis shows a shift in momentum as sell orders cluster above $2.54, limiting near-term upside until volume profiles realign with prior bullish patterns. XRP Price News: Chart Turns Neutral, Repeated $2.55 Rejections Define Next Breakout Zone.
And this is the part of the report that I find genuinely puzzling. The $2.50 support continues to act as a key psychological and structural pivot; maintaining closes above this threshold remains essential for preserving the medium-term bullish bias.
Momentum indicators, including RSI and MACD, hover near neutral territory, suggesting a potential pause phase rather than outright reversal. Declining volume in the subsequent consolidation implies early signs of accumulation, with institutional buyers potentially layering bids near the $2.49–$2.50 zone.
The Crypto-Political Calculus Just Doesn't Add Up
The idea that Trump is completely ignorant of CZ's background, given the connections and the nature of the pardon, strains credulity. It's either willful ignorance or a deliberate misdirection. Either way, it raises serious questions about the motivations behind the pardon. And looking at XRP's struggles, it highlights the inherent volatility and manipulation risks in the crypto world. Are these pardons a calculated move to curry favor with the crypto community, or is there something more at play? The numbers suggest a connection, but the full picture remains frustratingly opaque.
