President Donald Trump granted a full pardon to Binance founder Changpeng Zhao on October 23, 2025, according to The Wall Street Journal. XRP declined over 2.5% in 24 hours to $2.18, erasing earlier weekly gains. Bitcoin is tracking its largest gain against gold since April 22, when the BTC/XAUT pair surged 11%.

Fundstrat Head of Research Tom Lee projects a substantial cryptocurrency rally extending through late 2025, supported by improved technical indicators and reduced leverage following the October 10 liquidation event—the largest in five years. Bitcoin and Ethereum have maintained stability with open interest at record lows, despite deleveraging pressures tied to U.S.–China trade tensions. Lee cited JPMorgan's acceptance of digital assets as loan collateral as a notably bullish signal for the sector.