Newsom spotlights Trump pardons of convicted crypto figures including CZ and Ross Ulbricht
California Governor Gavin Newsom launched a page on the state website that highlights people President Donald Trump pardoned, focusing on convicted figures from the cryptocurrency world such as former Binance CEO Changpeng “CZ” Zhao, Silk Road founder Ross Ulbricht and BitMEX co‑founders. Presented as a “top 10 criminal cronies” tracker, the page compiles pardons and uses stylized imagery labelling some subjects “FELON.” Newsom framed the effort as putting facts in one place to show who Trump “elevates and protects,” and his move is part of ongoing public criticism of Trump amid Newsom’s rising national profile. The White House had no immediate comment. For crypto traders: the action escalates political and regulatory scrutiny of high‑profile industry figures and highlights potential executive interference in prosecutions — risks that can raise short‑term market volatility for tokens and firms tied to the implicated platforms. Keywords: Trump pardons, CZ, Ross Ulbricht, crypto regulation, political risk.
Bearish
The news increases political and regulatory uncertainty around high‑profile crypto figures. Publicizing pardons for convicted industry actors — including CZ and Ross Ulbricht — highlights potential executive interference in prosecutions and may signal a polarized political environment for crypto regulation. For traders, this often translates to short‑term risk aversion: assets tied to the implicated exchanges or platforms (and broad market sentiment) can see increased volatility and downward pressure as institutions, counterparties, or retail investors reassess legal and compliance risks. Over the longer term, outcomes depend on follow‑on regulatory actions, enforcement clarity, or legal reversals; if pardons reduce legal risk for executives, some specific tokens or firms might stabilize, but persistent political scrutiny can keep a higher risk premium priced in. Therefore, immediate impact is likely negative (bearish) for tokens directly connected to the named entities and for market confidence until uncertainty resolves.