US President Donald Trump's pardon of former Binance CEO Changpeng Zhao (CZ) had widespread repercussions in the crypto market. According to experts, this decision could pave the way for both Binance's return to the US market and the legitimacy of the BNB token.
Impact on the BNB Ecosystem
BNB Network CEO David Namdar stated that the amnesty could create a “rocket fuel effect” for the BNB ecosystem. Namdar's digital asset treasury, which holds 500,000 BNB tokens, argues that this amnesty lifts the reputational shadow cast over the token. “Binance continued to grow, BNB continued to grow. This amnesty could open a new chapter for both sides,” he said.
Namdar explained that many investors in the US have historically shied away from BNB due to legal concerns, but the amnesty could change that perception. BNB is currently the world's fifth-largest crypto asset with a market capitalization of $158 billion.
Potential for Growth and Legitimacy
Changpeng Zhao pleaded guilty to violating anti-money laundering regulations in 2023 and received a four-month prison sentence. He was banned from running Binance after his sentence. However, Trump's pardon has bolstered expectations that the ban could be lifted.
Further developments include Nasdaq-listed CEA Industries (BNB Network) raising $500 million in August, designating BNB as its primary reserve asset. According to Namdar, these developments, coupled with Binance's potential return to the US, could lead to a significant jump in BNB's value.