Crypto investors are now expecting a strong surge for BNB in the near term, following US President Donald Trump’s pardon of Binance founder Changpeng “CZ” Zhao.
In November 2023, Zhao pleaded guilty to failing to implement an adequate anti-money laundering (AML) program at Binance, thus violating the Bank Secrecy Act in the United States.
BNB rose around 3.6% to a daily high of $1,121, hours after The Wall Street Journal reported Trump’s decision, the result of months of lobbying and appeals from the company and Zhao himself.
The rise also affected World Liberty Financial (WLFI), a token associated with Trump’s crypto company, which rose almost 14% to $0.1414, according to CoinMarketCap.
The price surge sparked speculation that the positive sentiment could spread to the broader crypto market.
This momentum came after BNB was listed on Coinbase and Robinhood earlier this week, boosting investor confidence.
At the same time, publicly listed companies have also been seen accumulating BNB in their holdings.
For example, shares of the biotech company Applied DNA Sciences jumped more than 50% on Wednesday after revealing the purchase of 4,908 BNB worth about $5.3 million for the company’s treasury.
