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Crypto News: Trump's "Who?" and ETF Delays

Blockchain related 2025-11-03 18:20 16 Tronvault

Title: Trump's Crypto Pardon: A Glitch in the Matrix or Calculated Chaos?

Okay, so Trump pardoned Changpeng Zhao – "CZ" – the Binance guy who pleaded guilty to, shall we say, some light money laundering. Trump claims he doesn't know who CZ is. Right. Let's unpack this.

The "I Don't Know Him" Gambit

Trump's denial is, to put it mildly, dubious. We're talking about a pardon for someone who admitted to enabling money laundering, a charge that carries some serious weight (Zhao served four months). The stated reason? A "witch hunt" by the Biden administration. Karoline Leavitt, the White House Press Secretary, even called the prosecution an "overly prosecuted case" and part of a "war on cryptocurrency."

Here's where the numbers start to blur. Is this a genuine belief in CZ's innocence, or something else entirely? I've looked at hundreds of these cases, and the speed and vehemence of the defense, feels… unusual.

And then there's the Dominari Holdings connection. CZ's companies have partnered with firms linked to Trump, including Dominari, based in Trump Tower, where his sons sit on the board of advisors. Now, correlation doesn't equal causation, but it's a data point worth noting. Is it a coincidence, or a pattern? The Trump administration previously halted a fraud case against Justin Sun after his investments in the Trump family's crypto firm, World Liberty Financial.

The argument that Trump is simply pro-crypto is also a bit thin. He claims the US needs to lead in the space to avoid China gaining an advantage. But pardoning someone who admitted to enabling money laundering doesn't exactly scream "responsible innovation." It's more like "innovation at any cost."

Crypto News: Trump's

The ETF Factor: A November to Remember?

Meanwhile, the crypto ETF world is buzzing. The SEC's been dragging its feet (or was, before the government shutdown), but some issuers are trying a workaround – filing updated S-1 registration statements with "no delaying amendment" language. Basically, if the SEC doesn't object within 20 days, the ETF goes live.

Canary Capital, Bitwise, and Grayscale have already used this tactic, and Fidelity and Canary are lining up Solana and XRP ETFs, respectively. The first XRP fund could launch as soon as November 13.

Now, here’s the methodological critique. The article mentions that the SEC hasn't engaged much with the XRP application. That's a crucial point. The SEC's silence doesn't equal approval; it could just mean they haven't gotten around to it yet. Launching an ETF without proper SEC review is like driving a car without brakes—risky.

The question is, will the SEC step in and halt the process? Bloomberg Intelligence ETF analyst James Seyffart thinks some funds will launch next month, regardless of whether the government reopens. But those without SEC feedback might be stuck in limbo. Crypto ETFs: November Could Be the New October for U.S. After Shutdown Delays SEC Decisions

So, we have Trump pardoning a crypto exec while the SEC might be pressured to approve new crypto ETFs. Are these events connected? Probably not directly. But they both point to a growing acceptance of crypto in the mainstream, even if that acceptance is riddled with regulatory loopholes and political baggage.

This Smells Like a Pump and Dump

Trump says he doesn't know CZ. The White House calls CZ's prosecution a "witch hunt." Crypto ETFs might launch without proper SEC review. The whole thing reeks of a calculated move to pump up the crypto market, consequences be damned.

Tags： crypto news

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