Crypto traders are anticipating a significant rally for BNB in the coming weeks following the news that US President Donald Trump has pardoned Binance founder Changpeng “CZ” Zhao.
Zhao had pleaded guilty in November 2023 to one count of failing to implement an adequate Anti-Money Laundering (AML) program at Binance, which constituted a violation of the Bank Secrecy Act.
The price of BNB surged by 3.6% to an intraday high of $1,121 shortly after The Wall Street Journal reported that Trump had pardoned Zhao. This development followed months of lobbying efforts and appeals from both Binance and Zhao.
Crypto trader Xeer commented on the news in a post on Thursday, stating, “Trump just pardoned CZ. Now we resume $BNB up only szn.”
BNB’s Recent Surge Sparks Altcoin Season Speculation
The positive momentum extended to World Liberty Financial (WLFI), the native token of a crypto company founded by Trump’s son. WLFI saw an upward move of almost 14% to $0.1414 since the announcement, according to CoinMarketCap.
This price surge has ignited speculation that the enthusiasm might spread to the broader cryptocurrency market.
Richard Seiler, co-founder of RR2Capital, remarked in an X post following the announcement, “Crypto could do with a catalyst right now…That may very well have been it.”
Growing Public Treasury Interest in BNB
Another crypto trader, Galaxy, posed the question, “BNB now, altcoins next?”
This development occurs shortly after BNB was listed on Coinbase and Robinhood earlier this week. Additionally, publicly traded companies are increasingly acquiring BNB for their treasury holdings.
On Wednesday, shares of biotech firm Applied DNA Sciences experienced a jump of over 50% during the trading day. This surge followed the company's announcement of its purchase of 4,908 BNB tokens, valued at approximately $5.3 million.