WSJ Tech News Briefing

Episode: TNB Tech Minute: Trump Pardons Binance Founder CZ
Date: October 23, 2025
Host: Julie Chang

Episode Overview

This episode of the WSJ Tech Minute delivers a rapid-fire rundown of the day’s most striking tech news. The focal point is the exclusive scoop on President Trump’s pardon of Binance founder Changpeng Zhao (CZ), following his conviction and brief imprisonment for anti-money laundering violations. The episode also covers a major European aerospace alliance to rival SpaceX, and Intel’s financial rebound, closing with a brief commentary on business adaptability from SAP.

Key Discussion Points & Insights

1. Trump Pardons CZ, Former Binance CEO (00:21)

• The biggest story: President Trump has pardoned Changpeng Zhao, known as “CZ,” the founder and ex-CEO of Binance.

• Context:

  • Binance, the world’s largest crypto exchange, pleaded guilty in 2023 for violating U.S. anti-money laundering regulations and was barred from operating in the country.
  • CZ served four months in prison, released September 2024.

• Notable Political Connection:

  • The pardon comes after extended lobbying by CZ, who has assisted the Trump family's own crypto venture, “World Liberty Financial.”
  • Binance has been a key driver behind World Liberty’s USD-pegged stablecoin, USD 13.

  "Yesterday's pardon follows months of efforts by CZ to boost the Trump family's own crypto company, World Liberty Financial. And Binance has been one of the main drivers of the growth of World Liberty's dollar pegged cryptocurrency."
  — Julie Chang, [00:36]

2. European Aerospace Mega-Merger to Rival SpaceX (01:10)

• Airbus, Leonardo, and Thales are combining their space businesses into a new entity (unnamed as of now).

• Objective: Compete with US juggernaut SpaceX and strengthen Europe’s space industry.

  • The collaboration will employ ~25,000 people.
  • Anticipated operational by 2027, pending EU antitrust approval.

• Ownership:

  • Airbus (35%)
  • Leonardo (32.5%)
  • Thales (32.5%)
  • Despite unequal shares, all three will retain equal control.

• Motivation: Expected surge in demand for space infrastructure and autonomy across Europe.

  "The companies say it'll employ about 25,000 people and be operational in 2027 should it obtain antitrust approval from the EU."
  — Julie Chang, [01:24]

3. Intel’s Turnaround and Government Stake (01:48)

• Intel’s quarterly report shows strong sales growth in its PC processor lines and reduced operational costs after companywide cuts.

• Earnings highlight: $4.1 billion income in Q3.

• Stock performance: Up over 85% year-to-date, with most gains since August, when the US government disclosed a 10% equity stake in Intel.

  "Intel shares are up more than 85% so far this year, with almost all of the gains coming since August, when the US government announced a 10% equity stake in the company."
  — Julie Chang, [02:06]

4. SAP’s Perspective on Tech-Driven Adaptability (02:25)

• Brief segment featuring Sebastian Steinhauser of SAP (appears to be sponsored content).

• Emphasizes how technology, particularly AI, is vital for organizational resilience amid unpredictability.

  "Technology is the greatest tool in your tool set to help you create that capability to train that muscle in your enterprise to adapt fast to change in the environment."
  — Sebastian Steinhauser, [02:35]

Notable Quotes & Memorable Moments

• Julie Chang, regarding Trump's pardon and CZ’s support of Trump’s crypto interests:

  "Yesterday's pardon follows months of efforts by CZ to boost the Trump family's own crypto company, World Liberty Financial. And Binance has been one of the main drivers of the growth of World Liberty's dollar pegged cryptocurrency." [00:36]

• On the significance of European aerospace consolidation:

  "The companies say it'll employ about 25,000 people and be operational in 2027 should it obtain antitrust approval from the EU." [01:24]

• Market impact of Intel’s rebound and U.S. government investment:

  "Intel shares are up more than 85% so far this year, with almost all of the gains coming since August, when the US government announced a 10% equity stake in the company." [02:06]

• SAP’s outlook on adapting to uncertainty:

  "Technology is the greatest tool in your tool set to help you create that capability to train that muscle in your enterprise to adapt fast to change in the environment." — Sebastian Steinhauser, SAP [02:35]

Timestamps for Key Segments

• Trump pardons Binance’s CZ: 00:21 – 01:09
• European Aerospace Alliance: 01:10 – 01:45
• Intel’s Financial Turnaround: 01:48 – 02:20
• SAP on business adaptability: 02:25 – 03:05

This episode efficiently packs actionable news, highlighting major intersections between tech, policy, and business, while raising thought-provoking questions about political influence in the crypto space and the evolution of global tech leadership.