CZ's Binance Return? Rumors Spark BNB All-Time High
CZ Return to Binance? Speculation Surges
Rumors of Changpeng “CZ” Zhao potentially returning to Binance have intensified following a change to his X (formerly Twitter) profile, which now simply reads “Binance.” This comes as the exchange reportedly negotiates with federal prosecutors to ease settlement terms established in 2023.
Key Developments:
- CZ's X Profile: Zhao changed his X profile from “ex-Binance” to “Binance,” fueling speculation about his return.
- Settlement Negotiations: Binance is reportedly in talks to ease settlement terms with U.S. regulators.
- BNB Price Surge: BNB reached a new all-time high of $963 following the emergence of these rumors. It is currently trading around $960, up 4% in the last 24 hours, according to CoinMarketCap.
Zhao stepped down as CEO of Binance in November 2023 as part of a settlement with the US Department of Justice (DOJ), Commodity Futures Trading Commission (CFTC), Financial Crimes Enforcement Network (FinCEN), and the Treasury’s Office of Foreign Assets Control (OFAC). The agreement restricts him from managing or operating Binance for three years after a monitor is appointed.
In a May interview with Rug Radio’s Farokh Sarmad, Zhao confirmed he had applied for a presidential pardon, with his legal team submitting the application in April. Several figures in the crypto industry have previously received presidential pardons, including BitMEX co-founders Arthur Hayes, Benjamin Delo, and Samuel Reed, along with Silk Road creator Ross Ulbricht.