In a surprising turn of events, crypto traders have shifted their focus to BNB — the native token of Binance — following the news that Changpeng Zhao (better known as “CZ”), the exchange’s founder, was officially pardoned by Donald J. Trump.
1. The Pardon and Its Immediate Impact
Before the pardon, CZ had pled guilty in November 2023 to allegations of failing to fully implement anti-money-laundering (AML) programs at Binance — violations of U.S. banking laws.
Once the pardon was publicized, BNB’s price jumped by roughly 3.6%, reaching a high of about USD 1,148 in the same day.
On social media, traders were quick to react. One X (formerly Twitter) user wrote: “Trump just pardoned CZ. Now is the time for BNB to shine.”
2. Why This Matters to Traders
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The pardon serves as a strong catalyst — something the cryptocurrency market has been perhaps missing. According to Richard Seiler of RR2Capital, the market was “in need of a catalyst… and perhaps this is it.”
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Institutional interest appears to be growing. BNB has recently been listed on large U.S. platforms like Coinbase Global, Inc. and Robinhood Markets, Inc., and more publicly traded companies are adding BNB to their asset reserves.
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The broader altcoin space is also taking notice as BNB’s strength could be seen as a signal of a wider crypto rally. One trader remarked: “BNB now, altcoins next?”
3. Factors Underpinning BNB’s Momentum
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Regulatory Relief & Confidence: CZ’s pardon removes a major overhang in Binance’s regulatory story, which could ease investor concerns.
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Listings & Institutional Adoption: With BNB being listed more broadly and companies holding it in reserve, the token’s use case and liquidity are enhanced.
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Market Sentiment / Momentum: Momentum matters in crypto. A positive event can spark a feedback loop — positive news leads to positive sentiment, which leads to higher prices, which further fuels sentiment.
4. Risks & Considerations
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Although the pardon is significant, regulators globally continue to scrutinize Binance and the broader crypto industry — regulatory risk remains.
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A 3.6 % price jump is modest in crypto-terms; whether BNB can sustain a strong upward trend remains to be seen.
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The excitement may be short-lived if no further fundamental developments back it up. Traders chasing momentum should be cautious.
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As always in crypto: “This diary is not investment advice.” The original article itself emphasizes that point.
5. What to Watch Next
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Changes in on-chain activity: Are wallets accumulating BNB? Is there higher trading volume?
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More institutional flows: Which companies add BNB to their balance sheets next?
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Regulatory updates: Will other jurisdictions ease restrictions on Binance or increase scrutiny?
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Altcoin spillover: If BNB continues its rally, will that generate uplift across the broader altcoin market?
In summary, the pardon of CZ by President Trump has become a potential turning point for BNB — reducing regulatory fears and giving traders a narrative to rally around. Whether this translates into sustained growth remains uncertain, but for the moment, the sentiment backdrop looks constructive.
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