CZ’s pardon came after costly Binance lobbying push in Washington: Politico

💡 DMK Insight

CZ’s pardon could shake up crypto regulations and here’s why: The recent lobbying efforts, including hefty sums directed towards Trump-linked lobbyists, suggest a strategic move to influence crypto policy. Traders should be aware that this kind of political maneuvering can lead to sudden shifts in regulatory sentiment, impacting market volatility. If the pardon leads to a more favorable regulatory environment for crypto, we might see increased institutional interest, potentially pushing Bitcoin and Ethereum prices higher. Conversely, if it stirs backlash or skepticism from regulators, we could see a sell-off. Watch for key levels in Bitcoin around recent highs; a break above could signal bullish momentum, while a drop below support levels might trigger panic selling. Keep an eye on the SEC’s next moves, as they could either align with or push back against this political influence. The real story is how this plays out in the coming weeks, especially with mid-term elections approaching, which could further complicate the regulatory landscape.