US crypto exchanges lobby against Trump’s pardon of Binance founder CZ

U.S. crypto exchanges reportedly spent millions lobbying to block Trump’s pardon of Binance founder Changpeng “CZ” Zhao, as Binance’s possible re-entry threatens to reshape the U.S. market. Bitcoin’s odds of reaching $100,000 by December 31, 2026, sit at 34.5% YES, down from 36% yesterday.

The Bitcoin $100,000 market is at 34.5% YES. That’s a dip from 36% yesterday but up from 30% a week ago. The Bitcoin $150,000 market holds steady at 9.5% YES. The weekly climb paired with the daily pullback suggests traders are waiting for concrete developments before committing further.

Volume in the $100,000 market is $2,613 in USDC traded daily, with $2,908 needed to move the price 5 points. The $150,000 market sees $877 in daily volume. Order book depth is thin: $792 could push the $150,000 market 5 points, making both markets vulnerable to large orders.

The pardon and Binance’s possible return point to a de-escalation in U.S. crypto enforcement under Trump, which has drawn bipartisan criticism. For traders, this could mean more liquidity and competition in U.S. crypto markets. At 34.5¢, a YES share on Bitcoin hitting $100,000 pays $1, a 2.9x return. That bet pays off if Binance successfully re-enters the U.S. and drives new market activity.

Watch the Trump administration for further clemency actions and any congressional responses, particularly from senators like Warren and Tillis. SEC and CFTC regulatory moves will also determine market structure and Binance’s U.S. fate.

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