Binance Coin (BNB) cryptocurrency jumped 8% after President Donald Trump pardoned the exchange's co-founder Changpeng Zhao, who served a four-month prison sentence for violating anti-money laundering rules. This was reported by Bloomberg, writes UNN.
Details
Zhao, better known in the crypto community as CZ, pleaded guilty to failing to implement proper measures on the Binance platform in 2024. The plea was part of a settlement with the US government that included a $4.3 billion resolution.
President Trump exercised his constitutional authority by pardoning Mr. Zhao, who was prosecuted by the Biden administration as part of their war on cryptocurrency
Analysts note that the pardon was a positive signal for the market.
I think a small rally after this news makes sense
He added that BNB had shown stronger performance in the month leading up to the major liquidation on October 10, which hit altcoins hard due to low liquidity and high price volatility.
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