BNB jumped 3.6% to hit $1,121 within hours of Trump pardoning Binance founder Changpeng “CZ” Zhao on Thursday. Crypto traders are now expecting a massive rally for BNB in the coming weeks following the news.
CZ had pleaded guilty back in November 2023 to not implementing proper anti-money laundering programs at Binance, violating the Bank Secrecy Act. The pardon came after months of lobbying from both CZ and Binance.
A crypto trader immediately posted, “Trump just pardoned CZ. Now we resume the “$BNB up only szn,” capturing the excitement spreading through trading communities. Other traders started speculating this could trigger the start of altcoin season.
The enthusiasm wasn’t limited to BNB either. World Liberty Financial, the token from Trump’s son’s crypto company, shot up nearly 14% to $0.1414 after the announcement. RR2Capital co-founder Richard Seiler said crypto markets needed a catalyst right now, and this might be it.
The timing couldn’t be better for BNB since Coinbase and Robinhood just listed the token earlier this week. Public companies are also starting to accumulate BNB for their treasuries; biotech firm Applied DNA Sciences revealed Wednesday they bought 4,908 BNB worth about $5.3 million, causing their stock to surge over 50% during trading.
Traders are now asking, “BNB now, altcoins next?” as speculation builds about a broader market rally.
Conclusion
BNB surged 3.6% to $1,121 after Trump pardoned Binance founder CZ, sparking trader speculation about a potential altcoin season and a broader crypto market rally ahead.
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