Space Review｜Strategic Shift Behind Trump's Pardon of CZ: Policies, Markets, and TRON's Ecosystem Opportunities
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Space Review｜Strategic Shift Behind Trump's Pardon of CZ: Policies, Markets, and TRON's Ecosystem Opportunities
From Trump's pardon of CZ to the paradigm shift in America's crypto strategy: understanding investment logic and ecosystem opportunities under the new market paradigm.
Navigating Web3 tides with focused insightsOn October 23, 2025, U.S. President Trump signed a presidential pardon for Binance founder Changpeng Zhao (CZ), a move that sparked widespread attention across American politics and the crypto industry. This decision reflects the Trump administration's aggressive push for its "Crypto Capital of America" strategy, marking a fundamental shift in the United States' stance toward the cryptocurrency sector.
The background of this pardon traces back to 2024, when Binance reached a historic settlement with U.S. regulators, agreeing to pay a record $4.3 billion fine, while CZ himself accepted legal responsibility for violating the Bank Secrecy Act. In less than a year, the dramatic reversal from severe penalties to a presidential pardon highlights a strategic recalibration in U.S. crypto policy.
On October 28, a deep-dive discussion on the political storm surrounding Trump’s pardon and its implications for the future of the global crypto market unfolded energetically in a Twitter Space hosted by SunPump. The event brought together several seasoned industry guests aiming to look beyond surface-level developments and explore the political logic behind the pardon, its far-reaching impact on crypto markets, and strategic positioning for ordinary investors in this new cycle. This was not merely an information session but a valuable intellectual exchange, helping all market participants navigate uncertainty and find direction at a pivotal moment.
The Logic Behind Trump’s Pardon of CZ: Quid Pro Quo or Grand Strategy?
Regarding Trump’s pardon of CZ and its underlying motivations, guest Bi Zixun first dispelled surface-level speculation. He pointed out that although Binance has verifiable project collaborations with business entities linked to the Trump family, this essentially aligns with the norm in American political ecology—business groups lobbying through Political Action Committees (PACs). For the crypto industry, this should be seen as a positive form of “political feedback,” signaling a major shift in policy environment.
Guest Tang Shiyi echoed Bi Zixun’s view and added a financial perspective. He argued that Trump’s policy is equivalent to opening a top-level design “floodgate,” enabling a form of “policy easing.” This increases the likelihood that liquidity released by the Federal Reserve will flow into the relatively small crypto market, creating a rising-tide-lifts-all-boats effect. For ordinary participants, the key is to get “closer to the water source” by joining early-stage projects capable of capturing this policy-driven windfall.
Guest 527 offered an even broader perspective, revealing the deeper strategic rationale behind America’s ambition to become a “crypto capital.” Subjectively, amid challenges to dollar hegemony from new energy and multipolar currencies, the U.S. aims to reinforce its financial dominance by tokenizing core assets like U.S. stocks and Treasury bonds and promoting stablecoins to build a global dollar-based settlement network. Objectively, crypto technology serves as foundational infrastructure for the coming wave of AI-driven economies, with blockchain becoming the critical base layer enabling efficient, trustworthy collaboration and payments among AI agents. From this grand strategic viewpoint, he believes the Trump administration’s “pardon” of CZ is far more than a simple quid pro quo—it represents a strategic pivot in national policy, shifting from resistance to full embrace of crypto assets in order to seize leadership in next-generation technology and finance.
After thoroughly analyzing the strategic intent behind the pardon, the discussion naturally turned to its practical market impact: Can the convergence of three major events—Trump’s pardon of CZ, Hong Kong’s launch of its first Solana ETF, and expectations of Fed rate cuts—truly ignite a new bull market in crypto?
Although these three events have created a rare alignment of forces, guests generally maintained a cautiously optimistic outlook. They believe that given today’s vastly larger market size, replicating the explosive 2019 bull run is unrealistic. A more likely scenario is that this convergence will give rise to a new market paradigm with stronger structural characteristics: one centered on mainstream assets and compliant channels, driving the market toward a more mature and mainstream phase of development. For savvy participants, this undoubtedly presents significant new opportunities, though these opportunities will take more diverse forms, requiring investors to possess stronger capabilities in sector selection and ecosystem positioning.
Investor Strategy Guide: Left Hand on Meme Traffic, Right Hand on Stablecoin Yields—TRON Emerges as Core Platform
In the final segment of the Space, the discussion returned to the most pressing question for every participant: How should ordinary investors position themselves in light of Trump’s pardon of CZ and the grand vision of building a “crypto capital”? Guests offered highly practical insights ranging from sector selection to specific strategies.
Guest Mr. Bai presented a particularly insightful perspective: he recommended allocating a portion of funds to meme coins. He believes that the core value of meme coins in this cycle lies in their powerful user acquisition capabilities and extremely low marketing friction. Citing meme coins launched by Trump himself, he noted they are essentially “fair and transparent enough” community assets, free from VC dumping of low-cost tokens, bringing valuable new users and liquidity to the industry. For community leaders and everyday users alike, investing small amounts in meme coins is both a way to ride traffic trends and a risk-controlled experiment.
He further suggested focusing on meme projects backed by strong ecosystems and solid community consensus. One such example is SunPump, a fair-launch meme platform within the TRON ecosystem known for both community热度 and ecosystem potential. With SunPump and its AI-powered token launch assistant SunGenX, users can quickly identify trending projects, participate in market momentum, and deeply engage with a vibrant ecosystem.
Meanwhile, another high-conviction theme repeatedly emphasized by multiple guests is stablecoins. Guest 527 elaborated on this point, arguing that the golden era for retail investors may just be beginning. His core logic is that to realize the vision of a “crypto capital” and drive U.S. dollar assets on-chain, the most direct method is to incentivize user adoption through high yields and airdrop expectations. Based on this, he advised ordinary investors to actively engage with various projects centered around U.S. dollar stablecoins, thereby sharing in the industry’s growth by contributing to ecosystem development.
Under this trend, selecting a public blockchain with strong regulatory credibility, robust stablecoin infrastructure, and a thriving DeFi ecosystem is crucial. The TRON ecosystem stands out as an ideal vehicle for this trend.
TRON’s compliance advantage stems from its parent company, Tron Inc., officially listing on Nasdaq in July 2025 (ticker: TRON), making it one of the few blockchain mainnets to become a publicly traded entity. This milestone provides powerful regulatory validation for the entire TRON ecosystem. The listing is more than symbolic—Tron Inc. has filed documents with the SEC outlining plans to issue up to $1 billion in hybrid securities, with proceeds explicitly designated for purchasing TRX tokens and corporate operations. This means at least $1 billion in compliant capital could legally flow into the TRON blockchain ecosystem through this corporate structure.
TRON’s stablecoin advantage is equally significant. According to TRONSCAN data, the amount of USDT issued on the TRON network has surpassed 78.5 billion, making it the dominant channel for on-chain U.S. dollar stablecoin circulation. More importantly, the TRON ecosystem has strategically introduced USD1, a compliant stablecoin backed by the Trump family—deepening its integration with regulated dollars and marking a critical step in embracing the U.S. regulatory framework and strengthening its legitimacy.
At the same time, DeFi projects on TRON are flourishing. TRONSCAN shows that the total value locked (TVL) in the TRON ecosystem exceeds $25.5 billion, with the core lending protocol JustLend DAO surpassing $7.3 billion in TVL, establishing itself as one of the most profitable protocols in the ecosystem. Additionally, SunPerp, TRON’s first native perpetual DEX, has performed exceptionally well, achieving over $1.8 billion in trading volume shortly after its September 2025 launch, with total volume now reaching $2.98 billion and registered users exceeding 29,000, demonstrating strong potential in this emerging sector.
Even more noteworthy is the正式启动 of a large-scale buyback and burn program for the ecosystem governance token JST, injecting strong deflationary momentum. According to official announcements, JustLend DAO has completed its first buyback using 17,726,141 USDT in accumulated earnings, successfully burning 559,890,753 JST—approximately 5.66% of its total supply. This burn is not only massive in scale but also establishes a sustainable “value flywheel” model: net protocol income from JustLend DAO and excess returns from the USDD multi-chain ecosystem will be continuously used to buy back and burn JST, providing solid long-term support for the token’s value.
As the guests insightfully observed, the industry is evolving from a wild west phase toward compliance and mainstream adoption. This means fewer overnight rags-to-riches stories, but increasingly abundant, logic-driven, and ecosystem-based opportunities for sustainable profit are emerging at scale. For ordinary participants, understanding the capital logic behind the “crypto capital” strategy and choosing to deepen engagement within an ecosystem like TRON—one that combines a massive stablecoin foundation, a thriving DeFi landscape, and a clear compliance roadmap—is undoubtedly a rational approach to capturing this era’s transformative opportunities.
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