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Okay, let's talk about this. Trump pardoning Changpeng Zhao, the Binance guy – CZ – even claiming "I don't know who he is." It's… weird, right? Especially when you consider CZ pleaded guilty to enabling money laundering. The knee-jerk reaction is to cry foul. But I want to push past that, because sometimes the most bizarre events are the ones that force us to confront the future barreling toward us.
A Wink and a Nod to the Inevitable?
The surface-level narrative is simple: Trump, known for his… let's say unconventional decisions, throws a bone to a crypto tycoon, possibly influenced by connections between CZ's companies and Trump-related ventures, including Dominari Holdings, based in Trump Tower, where his sons are on the board. Karoline Leavitt, Trump's White House Press Secretary, even called CZ's prosecution a "war on cryptocurrency." You can almost hear the conspiracy theories writing themselves. But what if this is bigger than just one pardon?
What if it’s a clumsy, headline-grabbing signal that crypto is becoming too big to ignore, too interwoven with the global financial system to simply wish away? The Binance platform remains the most used crypto exchange in the world. Think about that for a second. A global force.
And Trump himself, during the same interview, talked about the US needing to be a leader in crypto to avoid China gaining an advantage. It’s a total contradiction, I know. Pardoning someone accused of enabling money laundering while simultaneously advocating for crypto leadership… but maybe that very contradiction is the point. Maybe it shows how messy, how complicated, this transition is going to be.
It's like the early days of the internet. Remember all the hand-wringing about illegal activity, the dark web, the potential for misuse? Now imagine someone pardoning a key figure from that era, someone involved in, say, the early days of Napster. It would be controversial, sure, but it would also acknowledge the transformative power of file sharing, the way it reshaped the music industry, and, eventually, the entire digital landscape.
The question isn’t whether Zhao deserves a pardon. The question is: does this pardon signal a shift in how the US government views cryptocurrency? Is it a sign that, despite the risks and the controversies, crypto is now seen as a necessary component of the future economy?
The pardon lifts restrictions that stopped Zhao from running financial ventures, but it is unclear whether it changes his standing with US regulators or his role at Binance. We’re still in uncharted territory, folks. This isn’t about absolving past actions; it's about clearing the path for future possibilities.
Of course, there's the ethical tightrope we have to walk. With great power comes great responsibility, right? The potential for misuse, for illicit activities, is very real. We need robust regulations, strong oversight, and a commitment to transparency. But we can't let fear paralyze us. We can't let the risks blind us to the potential rewards.
The SEC's Silent Nod?
And speaking of potential, let's talk about the SEC. Remember how everyone was waiting for October for the crypto ETF approvals? Then the government shutdown happened, and everything froze. But here's the thing: some issuers are now using a procedural workaround, filing updated S-1 registration statements with "no delaying amendment" language. Basically, if the SEC doesn't act within 20 days, the filings automatically become effective.
That's how four crypto ETFs – two from Canary Capital, one from Bitwise, and one from Grayscale – started trading earlier this week. The SEC didn't act, and they went live. Now, Fidelity has submitted an updated S-1 for its spot Solana ETF, and Canary Capital did the same for its XRP ETF. If the SEC keeps playing it cool, we could see the first XRP fund as soon as November 13th. Crypto ETFs: November Could Be the New October for U.S. After Shutdown Delays SEC Decisions
It's like the SEC is saying, "Okay, fine, do it your way." Or maybe they're just overwhelmed. Either way, it's a sign that the dam is breaking, that the pressure for crypto investment vehicles is becoming irresistible.
Now, I know what some of you are thinking: "But Aris, what about the risks? What about the volatility? What about the potential for scams?" And you're right to be concerned. But every new technology comes with risks. The printing press led to propaganda. The automobile led to pollution. The internet led to… well, we all know what the internet led to. But we don't throw out the baby with the bathwater. We adapt. We learn. We regulate.
When I first considered the implications of all this, I honestly just felt a surge of that old excitement, the same feeling that pulled me into this field in the first place. This isn't just about money; it's about freedom, innovation, and empowerment. It's about giving individuals more control over their financial lives. It's about creating a more equitable and accessible financial system.
The Future is Being Written, One Risky Pardon at a Time
Trump's pardon, the SEC's silence, the ETF workaround… it's all part of the same story. A story about a technology that is rapidly transforming the world around us, whether we're ready for it or not. It might be messy, confusing, and even a little scary, but it's also incredibly exciting. And I, for one, can't wait to see what happens next.
