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This Week In Crypto
23 Oct 2025

Substantial Global Growth in On-Chain Activity

President Trump pardons CZ. T.Rowe Price to launch actively managed crypto ETF. FalconX to acquire 21Shares. In trending topics we summarize key insights from Chainalysis’ Geography of Crypto Report.
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Trump pardons CZ
President Donald Trump has pardoned former Binance CEO Changpeng Zhao. White House Press Secretary Karoline Leavitt criticized the Biden administration for what she called a “war on crypto,” arguing that Zhao’s prosecution lacked evidence of fraud or victims. Zhao thanked Trump publicly, promising to help make the U.S. “the Capital of Crypto,” while Binance and industry leaders hailed the decision as a step toward innovation and global leadership in digital finance.The pardon could reopen questions about Zhao’s future at Binance, despite a prior lifetime ban under his plea agreement. His 2023 conviction for anti–money laundering failures led to four months in prison and a $50 million fine, while Binance paid $4.3 billion in penalties. Critics, including Sen. Elizabeth Warren, condemned the pardon as politically motivated and tied to Trump’s crypto ventures, renewing calls for stricter regulation. The White House defended the move as a legitimate exercise of presidential clemency powers.
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