The surge wasn’t just about trading momentum – it was fueled by a wave of speculation that Changpeng Zhao, better known as CZ, could be pardoned by US President Donald Trump.
Zhao, who gave up his CEO role in 2023 and later served a short prison sentence tied to Binance’s $4.3 billion settlement, has openly sought clemency this year. Betting markets recently valued his chances of a pardon at more than 60%, though that probability has since slipped closer to even. The possibility of Trump intervening has nevertheless electrified BNB traders, who see regulatory relief as a potential game-changer for the exchange and its token.
Adding to the intrigue, Zhao recently tweaked his X profile, a move many took as a hint at a comeback. Analysts say that even the rumor of a pardon has provided a psychological lift for BNB, already benefiting from institutional demand.
Treasury firms now hold more than half a billion dollars’ worth of the coin, a small but symbolic fraction of supply.
For Binance itself, the stakes are high. The exchange is still under Justice Department oversight but is reportedly working toward ending its compliance monitoring requirements. Political ties have only deepened the drama – Binance was previously linked to a stablecoin project tied to Trump’s business ventures, raising questions about how far the relationship could extend.
Launched in 2017 through an ICO, BNB has evolved far beyond its beginnings as a discount token on a trading platform.
Its rise to a fresh record underscores both the resilience of Binance’s ecosystem and the extraordinary influence of its founder. With an estimated fortune of $54 billion, Zhao remains the wealthiest figure in crypto – and perhaps the one with the most to gain if Trump signs off on a pardon.
Source: Bloomberg
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