Trump: CZ is not guilty, he is a victim of persecution by the Biden administration

October 24th. As per Bloomberg, on October 22nd, the regulatory agency in Nevada issued a cease-and-desist order to the cryptocurrency custody company Fortress Trust (now renamed Elemental Financial Technologies Inc.). Court documents indicate that the company is on the verge of bankruptcy and is facing a significant imbalance between assets and liabilities. The regulatory agency clearly stated in the order that Fortress's liquidity position is completely insufficient to meet its customer obligations.

On October 24th, according to on-chain analyst Ai Auntie (@ai9684xtpa), the Polymarket account of the "1011 Insider Whale" address proxy, Garrett Jin, has been continuously placing bets on the "Trump will pardon CZ" option since September 28th. The total investment was $28,677 and the profit reached $56,824, achieving a high return rate of 198%. It should be noted that this is just a report based on certain on-chain data and analysis, and there is no conclusive evidence to prove the authenticity of these claims. In the United States, insider trading is illegal and unethical behavior that may lead to serious legal consequences. At the same time, such market-related events and speculations often involve complex factors and uncertainties.

On October 24th, based on GMGN data, the market capitalization of the x402 protocol token PING briefly exceeded $15 million and is now at $12 million. It has witnessed a 456% 24-hour price increase and a $3.5 million 24-hour trading volume. x402 is an open payment protocol developed by Coinbase, which enables AI agents to autonomously complete transactions. The minting of PING is similar to that of an inscription two years ago. The minting cost for a word is approximately $1, and upon success, one can receive 5,000 PING tokens. For more details, refer to "Like the Inscription's 30x Big Doge, What Is the x402 Protocol?" at https://www.theblockbeats.info/news/59980. BlockBeats reminds users that meme coins often lack practical use cases and experience significant price volatility, and investment should be approached with caution.

On October 24th, the Stablecoin Layer 1 project Stable declared that the first phase of the deposit event had commenced, and the deposit cap was $825 million. The early partners included Pendle, Concrete, Morpho, LayerZero, Frax Finance, and USDT0.

On October 24th, Binance's founder, CZ, declared that his new book is about to be released. As early as March 14, 2025, CZ mentioned on Platform X that he had written a book with approximately 114,000 words, which might cover his career, the cryptocurrency industry, or personal experiences. On April 3rd of this year, CZ also shared investment insights extracted from his new book. The investment principles include three main points: focus on fundamentals, disregard fancy business models; focus on product, user growth, revenue/profit, and team strength; have a long-term commitment, get in early and hold on. Early adopters usually obtain disproportionate returns, and great success develops over time. Setbacks and temporary failures, like Terra, are part of the journey. Invest in founders with a mission-driven mindset. Great companies originate from such a mindset.

On October 24th, He Yi, a co-founder of Binance, posted an article expressing gratitude to Trump for pardoning CZ. He said, "The news of CZ's pardon today is amazing! Thanks to President Trump for his dedication to making the United States the capital of the world's cryptocurrency! CZ's vision has not only made Binance the largest cryptocurrency exchange in the world but has also driven the broader cryptocurrency movement. Binance has always been committed to building a secure, transparent, and user-centered platform to reduce fees and increase access for everyone to the financial system. If you are filled with inner light, the light will shine on you."