BTC holds above $111K while ETH nears $4K amid political speculation and steady gains.
Prediction markets have shifted following Donald Trump’s recent pardon of Binance founder Changpeng Zhao. Traders now assign a 10% probability of a presidential pardon for FTX founder Sam Bankman-Fried, according to Kalshi data.
The speculation follows a jump in odds across major platforms, with Polymarket showing a rise to 12% and Kalshi peaking at 16% before stabilising. Market participants responded swiftly to CZ’s pardon, viewing it as a possible sign of further crypto-related clemencies.
Despite Bankman-Fried’s more severe conviction involving billions in customer losses, traders remain active. Kalshi reports over $2.18 million in market volume, indicating high engagement in the outcome.
Digital assets showed mild gains as attention shifted to political and legal developments involving key crypto figures. Bitcoin (BTC) trades at $111,347.31, with a 0.04% hourly and 0.86% daily increase.
Over the past week, BTC is up 4.21%, reflecting steady bullish momentum despite macro uncertainty. Meanwhile, Ethereum (ETH) holds at $3,932.71, with a 0.06% hourly and 0.85% daily rise.
ETH has gained 1.33% in the past seven days, closely tracking Bitcoin’s upward trend. Market sentiment remains cautiously optimistic, driven by institutional interest and political narratives.
Bankman-Fried’s previous media efforts, including appearances on conservative platforms, sought to reshape public image ahead of a potential clemency push. However, the scale of his financial crimes and political affiliations complicate the possibility.
While prediction markets adjust rapidly, legal analysts suggest Bankman-Fried’s case presents more significant barriers than recent crypto pardons. His 25-year sentence remains in place, and no official steps toward clemency have been confirmed.
