The Daily: Trump pardons CZ, memecoin lawsuit claims, MegaETH whitepaper leak, legacy asset manager joins crypto ETF race, and more
President Trump pardoned former Binance CEO CZ, a lawsuit targets Meteora's Ben Chow for memecoin fraud, and T. Rowe Price filed for a crypto ETF.Summary
The daily crypto news roundup highlights several major developments. President Trump has pardoned former Binance CEO Changpeng "CZ" Zhao, signaling a policy shift away from the Biden administration's perceived "war on crypto." Zhao, who served four months in prison following a massive corporate settlement, was pardoned despite previously pleading guilty to compliance failures.
In legal news, a class action lawsuit accuses Meteora co-founder Ben Chow of orchestrating a coordinated memecoin fraud involving tokens like Melania and Libra, using public figures for legitimacy before developers allegedly dumped the assets. Separately, JPMorgan noted that Bitcoin miners are increasingly decoupling from the BTC price as they pivot toward AI infrastructure for more stable revenue, though mining profitability remains squeezed by high costs.
Furthermore, legacy asset manager T. Rowe Price, with $1.77 trillion in AUM, filed for its first actively managed crypto ETF, aiming to invest in major cryptocurrencies and signaling a growing integration of digital assets by traditional finance. Finally, the Ethereum L2 project MegaETH confirmed its leaked whitepaper, detailing tokenomics including a 9.5% team allocation and infrastructure designed for MiCA compliance.
(Source：The Block)