CZ Return Rumors Fuel Binance's BNB Price Surge
CZ Return Rumors Fuel Binance's BNB Price Surge
Whispers of Changpeng Zhao (CZ) potentially returning to Binance are circulating, nearly two years after his resignation in November 2023. With Binance's legal hurdles seemingly clearing, CZ's possible comeback is fueling market speculation. In response, BNB coin experienced a 5% surge, reaching a new all-time high of $960.
CZ's X Profile Sparks Speculation
Crypto journalist Wu Blockchain noted that CZ updated his X profile, changing the description from “ex-@binance” to “@binance.” This seemingly minor change ignited rumors of his potential return to the exchange. This development coincides with Binance nearing a deal with the U.S. Department of Justice (DoJ) to conclude compliance oversight from its lawsuit.
In November 2023, Changpeng Zhao stepped down as Binance CEO and pleaded guilty to violating U.S. anti-money laundering laws, resulting in a $4.3 billion settlement. CZ also faced a personal penalty of $50 million and was restricted from managing Binance. Richard Teng subsequently took over as CEO. The possibility of CZ's return surfaces following Binance's lawsuit settlement in May 2025.
The speculation around Zhao’s return aligns with Binance's agreement with the DOJ to lift the three-year oversight requirement imposed in 2023 for Bank Secrecy Act (BSA) violations. It also coincides with BNB hitting all-time highs at $960.
BNB Rallies Past $960
BNB Coin has outperformed the broader crypto market, gaining 5% in the last 24 hours and reaching a new all-time high above $960. Daily trading volumes surged by 37.3% to $3.31 billion.
Coinglass data indicates a 10.5% increase in BNB futures open interest, exceeding $1.83 billion, signaling bullish sentiment. Market analysts are now eyeing a breakout past $1,000 for further gains.
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