Bitcoin Strengthens Amid US Inflation, Trump Pardons CZ
Date: 2025-10-27 Author: Gabriel Deangelo Categories: CRYPTO PAYMENTS, BUSINESS
Bitcoin ended the week with strong gains, surpassing $113,000. The price reached $114,000 at the beginning of the week, but corrected midway through. New data on rising US inflation gave the market additional momentum: the consumer price index rose by 0.3% in September, reaching 3.0% year-on-year. This reinforced expectations for a Fed rate cut to the 3.75-4% range, fueling interest in risky assets.
Bitcoin gained 5.5% by the end of the week, reaching $2.26 trillion and accounting for 55.7% of the market. The overall crypto market valuation has approached $3.92 trillion. Ethereum is holding steady at $4,000, BNB is around $1,100, and XRP has risen 11%, becoming the week's top performer. The Fear and Greed Index has risen to 40, reflecting growing investor optimism.
One of the most discussed events was Donald Trump's pardon of Changpeng Zhao, the founder of Binance. The president explained the decision by saying that Changpeng Zhao had been subjected to unfair pressure by the previous administration, which waged war on the crypto industry. White House Press Secretary Caroline Leavitt stated that Trump exercised his right to "restore justice."
Zhao himself thanked the president and stated his readiness to help develop crypto innovation in the United States. However, public reaction was mixed: Democrats led by Maxine Waters and Elizabeth Warren condemned the pardon, calling it an act of corruption. In response, CZ emphasized that the accusations were untrue and based on distorted facts.
After four months in prison, Zhao paid a $50 million fine in 2024 and resigned as Binance CEO. Although he remains the largest shareholder, the exchange's management has not ruled out his return to the board of directors. Following the news of the pardon, media reports began speculating about the possible revival of Binance's American branch.
Meanwhile, OpenAI unveiled a new browser, Atlas, which integrates ChatGPT and intelligent assistants. The Chromium-based program is already available for macOS and allows users to integrate history, passwords, and tabs from other browsers. A key feature is the ability to directly query ChatGPT about page content and assign it simple tasks like booking or shopping.
Despite market fluctuations, mining-related stocks saw sharp growth, with industry leaders' market capitalization exceeding $90 billion. Bitfarms rose 162%, Canaan 149%, and CleanSpark 125%. However, miners' total debt increased fivefold over the year, reaching $12.7 billion. VanEck experts attribute this increase to active investment in AI hardware. They believe the integration of artificial intelligence is facilitating the development of blockchain infrastructure.
Additionally, Tether announced a record high of over 500 million USDT users worldwide. The stablecoin's market capitalization exceeded $182 billion, strengthening its market leadership and confirming the growing role of "programmable money" in the global economy.
