Crypto traders are betting on a strong rally for BNB, the native token of Binance, after U.S. President Donald Trump granted a presidential pardon to Binance founder Changpeng “CZ” Zhao. The move, which followed months of lobbying and appeals, has reignited optimism across the digital asset market and fueled speculation of a new “altcoin season.”
Zhao had pleaded guilty in November 2023 to a single count of failing to implement an adequate Anti-Money Laundering (AML) program at Binance, a violation of the Bank Secrecy Act. His pardon, confirmed earlier this week, immediately sent BNB prices soaring.
Within hours of The Wall Street Journal breaking the news, BNB jumped 3% to an intraday high of $1,125, according to market data. Crypto trader Xeer captured the market’s mood on X, posting, “Trump just pardoned CZ. Now we resume $BNB up only szn.”
BNB Reaction and Altcoin Season Speculation
BNB’s rally has spilled over into other tokens, fueling speculation that the bullish momentum could trigger a broader recovery across altcoins. Notably, World Liberty Financial (WLFI) climbed nearly 14% to $0.1414, according to CoinMarketCap.
Industry voices say the pardon could serve as a much-needed spark for the crypto market after months of stagnation. RR2Capital co-founder Richard Seiler commented on X, “Crypto could do with a catalyst right now… That may very well have been it.”
Traders are now closely watching whether renewed investor confidence in Binance could translate into broader gains across decentralized finance (DeFi) and exchange tokens. Prominent trader Galaxy asked, “BNB now, altcoins next?”
Institutional Interest Builds Around BNB
The positive momentum comes just days after Coinbase and Robinhood listed BNB for the first time — a milestone that has further boosted the token’s visibility among retail and institutional investors.
Adding to the excitement, several publicly traded firms have begun including BNB in their treasury holdings. On Wednesday, shares of Applied DNA Sciences, a New York-based biotech company, surged over 50% after it disclosed the purchase of 4,908 BNB tokens valued at roughly $5.3 million.
With institutional adoption growing and political winds shifting in crypto’s favor, traders believe BNB could be poised for a sustained rally. As one analyst put it, “The CZ pardon might be more than just a headline, it could be the spark that reignites the entire market.”