Crypto News Today, October 24: Changpeng Zhao After Hayes, Another Trump Crypto Pardon | Bitcoin Price Climbs $111.5K as CPI Looms, But What’s Next? SBF? Do Kwon?

[Ben Graham]

In crypto news, markets are singing over the fact that former Binance chief Changpeng Zhao (CZ) received a crypto pardon, a decision following Arthur Hayes’ earlier reprieve, all while the Bitcoin price surges past $111,500 today. The timing brought questions as to whether Trump’s recent moves are part of a larger effort to lift the crypto sentiment ahead of key economic data.

Following the news, Bitcoin price bumped by more than 1% in the past 24 hours, pushing the total crypto market cap to roughly $3.85 trillion today. Apart from the pardon, analysts think that the rebound may be linked to optimism surrounding the speculation about another rate cut this year, especially with the market that looks bottoming.

Market Cap

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Changpeng Zhao Crypto Pardon Drama and Crypto Sentiment

The crypto pardon for Changpeng Zhao effectively wipes his record after a short sentence tied to Binance’s $4.3 billion settlement. With a clean slate, Changpeng Zhao can run for the US presidency now. CZ, not SBF.

@cz_binance pardoned means he can run for a US president now. Bullish pic.twitter.com/cXlbs6t1dh

— BANJO IN CAPSLOCK (@BANJOINCAPSLOCK) October 24, 2025

Crypto Twitter argues it’s preferential treatment, while supporters claim CZ’s cooperation and leadership have helped legitimize parts of the industry. On the prediction platform Polymarket, bets now show a 2% chance that Sam Bankman-Fried (SBF) could receive a similar pardon this month, though many doubt it, given his role in the FTX collapse. 

(source – Polymarket)

Compared side by side, Changpeng Zhao regulatory failures differ sharply from SBF’s outright fraud, or even DO Kwon’s. CZ faced compliance violations; SBF misused billions in user funds. Some speculate Trump’s crypto pardon spree might be strategic, aiming to attract crypto voters and reinforce the US as a global blockchain hub. Yet SBF’s crimes may be too heavy for redemption, no matter how bullish the sentiment gets.

Deeply grateful for today’s pardon and to President Trump for upholding America’s commitment to fairness, innovation, and justice.

Will do everything we can to help make America the Capital of Crypto and advance web3 worldwide.

(Still in flight, more posts to come.)…

— CZ BNB (@cz_binance) October 23, 2025

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Major Crypto News Today: Bitcoin Price Blasting Post Pardon, But Will It Sustain?

Data from DefiLlama shows total DeFi value locked (TVL) climbing to $152 billion, climbing by almost 4% in a day. There’s also a bullish metric as the stablecoin market cap reaches an all-time high, which means people are ready to re-enter the market.

We are all, unless those shorting, expecting the upcoming CPI report to show under 3.1% inflation yearly. However, Polymarket bettors are giving a 51% chance of inflation surpassing 3%.

US CPI will be released tomorrow at 8:30am ET.

The market expectations are at 3.1%, while last month's CPI was at 2.9%.

Here are different scenarios:

1⃣ CPI > 3.1%

This will be bearish for markets.

This is because it'll mark the highest CPI print since June 2024.

2⃣ CPI… pic.twitter.com/uEl435PNa2

— Ash Crypto (@Ashcryptoreal) October 23, 2025

As for the charts, the Bitcoin price rebound suggests a possible market bottom. Sentiment remains cautious as the Fear & Greed Index sits at 30, but traders see early signs of reversal. Ethereum rose 2.3% to $3,950, though “ETH season” still feels distant for now.

Crypto Fear and Greed Index

Last updated: Oct 24, 2025

30.27 Fear

Market Sentiment

Now 30.27 Fear

Yesterday 29.24 Fear

Last week 16.98 Extreme Fear

In short, most crypto news headlines today show a torn between drama and optimism. With Changpeng Zhao pardon fueling debate and Bitcoin price defying fear, the next CPI report will decide whether this rally turns real or fades into another fakeout.

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