Binance Coin climbed again over the weekend, pushing past the $900 mark and touching about $907 on Sunday after a sharp 24-hour uptick. Markets were calmer overall, with the broader crypto complex up 0.55% for the day while Bitcoin hovered above $92,000 and Ethereum traded beyond $3,100. Related Reading: Bitcoin’s Next Peak Might Ignite ADA’s Rally, Says Cardano Creator Market Reaction To Regulatory Shift According to social posts from Changpeng Zhao, founder and former CEO of Binance who is also known as ‘CZ’, optimism around a possible new crypto cycle helped fuel demand. CZ linked the mood to a regulatory change, saying the Securities and Exchange Commission had removed crypto from its list of priority risks for 2026. Based on reports, that move is being read by some investors as a sign of easing scrutiny, and it appears to have lifted sentiment across tokens. I could be wrong, but Super Cycle incoming. https://t.co/6TLldEMmGA — CZ ???? BNB (@cz_binance) January 10, 2026 Institutional Buying Adds Fuel Reports note sizable institutional flows into Bitcoin products. According to a filing, Wells Fargo bought 383 million of Bitcoin ETF shares, a figure that market watchers flagged as a large institutional stake. Morgan Stanley also filed for its own spot Bitcoin ETF last week, which many see as more proof that big financial players are stepping in. Those actions are being cited by traders as one reason risk assets like Binance Coin could see more interest. Macroeconomic Calendar Could Swing Prices A packed US data week is ahead and traders say it could affect crypto angles. On Monday, the market will watch a speech by the FOMC president. On Tuesday and Wednesday, the US Consumer Price Index and the Producer Price Index are due. Jobless claims come on Thursday, and a Fed balance sheet update lands on Friday. Any big surprise in those numbers can push liquidity flows and quickly change appetite for tokens. Binance Coin: Technical Levels To Watch BNB briefly reclaimed the $900 zone and was reported at $909 in some feeds as the four-hour chart showed a steady climb. Short-term resistance sits near $950, with a psychological barrier at $1,000. Related Reading: XRP Ledger May Get A Tokenized Gold Upgrade, Web3 Founder Reveals Technical indicators offered cautious support for bulls: the MACD showed a bullish crossover with the blue line above the signal line, and the histogram printed positive bars, which suggests buying pressure building. The RSI sat around 56.10, under overbought levels, implying room for more gains. Traders still point to a key support range near $850. A break below that could invite heavier selling and take prices down toward $820. The scenario of a quick pullback is real; prices that move fast up can move fast down. Market participants will be watching both the macro calendar and any fresh regulatory updates for clues. Featured image from Unsplash, chart from TradingView
Amid already fragile sentiment across the crypto market, attackers exploited Trust Wallet, shaking confidence in self-custody solutions. The breach has impacted hundreds of users, with on-chain data showing that more than $6.77 million has already been stolen. The timing has amplified concern, coming at a moment when investors are already navigating heightened uncertainty, declining prices, and rising risk aversion. Related Reading: XRP Exchange Reserves On Binance Fall To Six-Month Low: Selling Pressure Is Easing According to the Trust Wallet team, the exploit appears to be linked to a recent update to its Chrome browser extension. In a public statement posted on X, the company urged users to take immediate action, stating: “Users with Browser Extension 2.68 should disable and upgrade to 2.69.” The message suggests that the vulnerability was isolated to a specific version of the extension, rather than the core wallet infrastructure, but the scale of the losses has nonetheless raised alarm. Trust Wallet is one of the most widely used self-custody wallets in the industry. Reporting a user base of roughly 220 million people globally. That reach makes any security incident particularly significant, not only because of the direct financial impact, but also due to the broader implications for trust in non-custodial platforms. As investigations continue and affected users assess the damage, the exploit adds another layer of stress to a market already grappling with weak sentiment and elevated skepticism toward crypto infrastructure. Funds Tracked As Trust Wallet Commits To Full Reimbursement On-chain investigators have begun tracing the movement of funds linked to the Trust Wallet exploit. According to analysis shared by Lookonchain, the attacker has already transferred approximately $5.5 million through a combination of instant swap services and centralized exchanges, including ChangeNOW, FixedFloat, KuCoin, and HTX. Routing funds through multiple channels suggests an attempt to obscure flows and accelerate laundering. A pattern commonly observed in recent wallet exploits. Despite the ongoing movement of stolen assets, Trust Wallet has moved quickly to reassure users. Binance founder and former CEO Changpeng Zhao (CZ) publicly stated that Trust Wallet will fully cover all user losses resulting from the incident. This commitment has been central to calming concerns. Particularly given the wallet’s large global user base and the broader climate of weakened trust in crypto infrastructure. The Trust Wallet team later reinforced this position with a formal statement, confirming the scale of the impact and outlining next steps. “We’ve confirmed that approximately $7M has been impacted and we will ensure all affected users are refunded,” the team said. The team added that supporting affected users is the top priority, and they are actively finalizing the refund process. The statement also warned users to avoid interacting with messages that do not originate from official Trust Wallet channels. As fund tracking continues, the focus has now shifted from damage assessment to execution of reimbursements and restoration of user confidence. Altcoin Market Holds Key Support As Broader Structure Weakens The total cryptocurrency market capitalization excluding Bitcoin and Ethereum is trading near the $825 billion level on the weekly chart. Following a sharp pullback from the $1.1–$1.2 trillion highs reached earlier this year. This index, used as a proxy for broader altcoin market health, shows a clear loss of momentum after an aggressive expansion phase. Signaling rising stress across the altcoin sector. Technically, the market has slipped below its faster weekly moving average, which previously acted as dynamic support during the uptrend. That level has now flipped into resistance, limiting upside attempts. Price is currently hovering just above the longer-term moving averages, which converge between roughly $780 billion and $820 billion. This zone represents a critical structural support area. A sustained break below it would likely confirm a broader bearish transition for altcoins. Related Reading: Bitcoin and Ethereum Coinbase Inflows Collapse While Binance Retains Relative Activity – Details From a market-structure perspective, holding the current range keeps the possibility of consolidation alive. However, failure to defend this support would open the door to a deeper retracement toward the $650–$700 billion region. For a bullish case to re-emerge, the altcoin market would need to reclaim the $900 billion level and reestablish acceptance above its key moving averages. Featured image from ChatGPT, chart from TradingView.com
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Zhao’s exit from Binance did little to dim his prominence.
The hacker spent 19,479 USDT to buy 21.16 million of the tokens, making around $55,000 from the subsequent pump, according to Lookonchain.
Longtime gold advocate Peter Schiff said bitcoin’s demand is fading despite ETF inflows, corporate accumulation, and intense market hype.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Yi He will lead the company alongside previous solo CEO Richard Teng, the exec announced during Binance Blockchain Week.
YZiLabs says BNB Network’s rollout has faltered, citing sluggish investor updates and a gap between the stock and its underlying BNB holdings.
Binance founder Changpeng Zhao’s blunt reminder about buying low and selling high landed at a tense time for crypto traders. His line — “Sell when there is maximum greed, and buy when there is maximum fear” — was posted as markets showed fresh signs of strain and debate over whether now is a buying moment or another stall. Related Reading: Bitcoin Miners Face A Harsh December: Rising BTC Difficulty, Falling Hashprice CZ’s Message Meets Extreme Fear According to the Crypto Fear & Greed Index, sentiment recently climbed to 20, moving out of “Extreme Fear” after a streak of low readings. The index had hit a yearly low of 10 on Nov. 22 and the market had spent eighteen days stuck in extreme fear. Unpopular opinion, but it’s better to sell when there is maximum greed, and buy when there is maximum fear. ????♂️ — CZ ???? BNB (@cz_binance) November 29, 2025 Analysts called that stretch unusually deep. Matthew Hyland described it as the “most extreme fear level” of the cycle, and other traders argued that calling it extreme was being generous. Bitcoin Holds But Mood Is Fragile Based on reports, Bitcoin was trading at $91,780, a far cry from the all-time high of $126,000 reached in October. Prices remain up from 2024 lows of just over $40,000, yet confidence is thin. Santiment tracked online chatter and found talks focused more on volatility and institutional moves than on excitement. The Altcoin Season Index sat at 22/100, a clear sign that traders are favoring safety. Market Psychology Overrules Charts Traders reacted fast to CZ’s post. One user said emotion often beats logic in real trading. Another noted that markets tend to move on psychology well before technical signals line up. That gap between what traders know and what they do was on full display: many agree with the rule, and few actually follow it when prices slip. History Offers A Hint, Not A Guarantee Reports have disclosed that some analysts see a pattern. Nicola Duke pointed out that in the last five years, every time the market reached extreme fear, Bitcoin found a local bottom within weeks. While past stretches can offer context, they do not promise the same result now. Bitwise researcher André Dragosch warned that current pricing reflects a recession-level global growth outlook — the most bearish setting since 2020 and 2022 — which raises real risk for buyers. Related Reading: Bitcoin’s November Slump Could Trigger A 2026 Revival, Analysts Say Bitcoin Coinbase Premium Turns Positive After 29 Days Meanwhile, the Bitcoin (BTC) Coinbase premium finally flipped back into positive after nearly a month of staying in the red. Data from Coinglass on the 30th showed the premium at 0.0255%, marking the first positive reading in 29 days. For almost a month, the negative premium had suggested that selling pressure dominated the US market, with traders and investors leaning toward caution. The Coinbase premium tracks how Bitcoin’s price on Coinbase, a major US exchange, compares to the global average. When it’s positive, it means the US price is above the worldwide average. This is often seen as a sign that buying is picking up in the US, more institutions are getting involved, dollar liquidity is recovering, and overall investor confidence is improving. Featured image from Gemini, chart from TradingView
Based on reports, victims of the October 7 attacks in Israel have filed a federal lawsuit against Binance and its founder, Changpeng “CZ” Zhao, claiming the exchange allowed large crypto flows to militant groups. Related Reading: Bitcoin Creator Somehow Becomes ‘Poor’ By Losing $41 Billion Without Saying A Word The complaint lists 306 American plaintiffs who say they were killed, injured, or taken hostage and are demanding damages. Dormant Accounts Draw Scrutiny According to the filing, the plaintiffs allege Binance helped move more than $1 billion for Hamas and other US-designated groups over several years. They claim that more than $50 million passed through the platform after the October 7, 2023 assault. These figures sit at the center of the case and could shape the request for compensatory and treble damages. The complaint also highlights unusual account activity that lawyers say should have triggered alarms. One example involves an account tied to a Venezuelan woman linked to a Brazilian livestock business. Binance Holdings faces a lawsuit claiming the cryptocurrency platform “knowingly facilitated” crypto transactions by Hamas before the group attacked Israel on Oct. 7, 2023, killing 1,200 people and taking 250 hostages. https://t.co/B3rO7bAjN6 — The Japan Times (@japantimes) November 25, 2025 Reports say the account received over $177 million in deposits after opening in 2022 and later sent out more than $130 million in withdrawals. Attorneys argue that movements of this size should have been examined more closely. Large Sums And Strange Flows Based on reports, the plaintiffs argue that Binance’s controls were weak or ignored, allowing questionable transfers to move across borders. The lawsuit lists alleged links to Hamas, Hezbollah, Palestinian Islamic Jihad, and Iran’s Revolutionary Guard. Lawyers claim the platform became a tool for shifting money while avoiding standard financial checks. Binance has said it complies with international sanctions laws and has denied having any special ties to terrorist groups. Its legal history forms part of the background: in late 2023, the company pleaded guilty in a major federal case and paid a $4.32 billion penalty tied to anti-money-laundering and sanctions violations. That earlier case, along with Zhao’s four-month prison sentence, is referenced in the new complaint. Related Reading: Bitcoin’s Sudden Volatility Jump Signals Options Could Be Calling The Shots—Analyst Legal Stakes And Future Impact The new lawsuit seeks damages under a US anti-terrorism law that can triple any award. If the plaintiffs succeed, the financial and reputational impact on Binance could be severe. The complaint was filed in federal court in North Dakota and is separate from another case in Manhattan that is already moving through the court system. The filing also recalls that Zhao’s prison sentence was later followed by a pardon from US President Donald Trump, something the plaintiffs point to as part of the exchange’s complicated legal path. They argue this new lawsuit is necessary to push for accountability after years of what they see as weak controls. Featured image from alliance / Zumapress.com, chart from TradingView
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
A sudden disclosure by Binance founder Changpeng Zhao set off a sharp move in Aster’s token price and trading patterns. Related Reading: Forget Billions—XRP Could Hit Trillions, Leading Expert Says According to reports, Zhao said he personally owns just over 2 million ASTER tokens — a holding that has been valued at about $2.5 million in coverage of the event. That admission prompted a rapid buying wave and heavy media noise, with traders and observers trying to sort what the move means for the project and the broader4 market. Aster Trading Activity On Fire As Price Rises Based on reports, ASTER climbed from roughly $0.91 to a peak near $1.26 on the day the disclosure hit newsfeeds. Volume also surged: one snapshot put 24-hour turnover at around $224 million before the announcement and at more than $2 billion afterward. Platform metrics moved too; total value locked on the Aster system reached about $1 billion dollars in recent updates. Market watchers pointed out that those jumps happened within hours of Zhao’s statement, pushing the token into headlines and onto many traders’ watchlists. Full disclosure. I just bought some Aster today, using my own money, on @Binance. I am not a trader. I buy and hold. pic.twitter.com/wvmBwaXbKD — CZ ???? BNB (@cz_binance) November 2, 2025 Supply Concerns And Background Ties Reports have disclosed that Aster’s circulating supply stands at about 2 billion tokens while total supply is 8 billion. That gap has raised alarms among analysts who say future token unlocks could add selling pressure. At the same time, discussion has grown about whether Zhao’s stake represents a purely personal bet or something tied to past venture ties, like connections to YZi Labs (previously Binance Labs). Some community voices welcomed the vote of confidence, while others urged caution and more disclosure about timing and intent. Whales, Shorts And The Need For Transparency Traders already placed big bets in both directions after the pop. Some large holders were reported to be taking profits, while short sellers were opening positions on the belief that the rally could be fleeting. Based on reports, competition with other derivatives and exchange projects — names like Hyperliquid were mentioned in analyst commentary — will test whether Aster can keep user interest beyond the headlines. Observers also flagged that massive daily volume spikes are often followed by quick retracement if underlying usage does not grow. Related Reading: XRP’s Next Earthquake: Billions Set To Flow In, ‘Supply Shock’ Coming—Analyst Volume, Unlock Schedules, And Product Signals Investors and reporters will be watching three main things: whether high trading volume holds up, how many tokens are set to unlock and hit markets, and whether the project builds real, steady user activity on its platform. According to current data, those variables will likely determine if this move becomes a lasting repricing or a short-lived event. Featured image from Gemini, chart from TradingView
Aster (ASTER) has seen heightened volatility in recent sessions as broader market selling pressure weighs on altcoins and investor sentiment remains fragile. Yet in the midst of this downturn, the token drew unexpected attention when Changpeng Zhao (CZ) — Binance’s former CEO — posted on X that he personally bought ASTER using his own funds directly on Binance. The comment immediately sparked debate across the crypto community, with some viewing it as a confidence signal and others treating it with caution given current market conditions. Related Reading: Bitmine Buys 44,036 Ethereum Worth $166M During Market Dip – Details However, not all major traders share the bullish view. Shortly after CZ’s post, notable on-chain whale 0x9eec increased a bearish positioning, adding significantly to an already large ASTER short position. This divergence between a high-profile buyer and a whale doubling down on shorts has injected further uncertainty into the market narrative surrounding ASTER. Price action remains choppy as traders weigh institutional behavior, community influence, and market structure. With sentiment split and volatility rising, ASTER finds itself at the center of a tug-of-war between speculative confidence and defensive positioning — a dynamic that could define its near-term trajectory. Whale Bets Against Aster Despite CZ’s Public Support Aster finds itself at the center of an unusual market disconnect, where public sentiment and whale activity are pulling in opposite directions. According to Lookonchain data, shortly after CZ publicly stated that he bought ASTER with his own funds, an influential on-chain trader took the opposite stance. Wallet 0x9eec, a whale known for large directional plays, has been aggressively increasing his ASTER short exposure, signaling skepticism about the token’s near-term performance. The address now holds 42.97 million ASTER in shorts, currently valued at approximately $52.8 million, with a liquidation price set at $2.091. This is a significant position that clearly reflects conviction — and raises questions across the market. While CZ’s comment boosted visibility and briefly stirred bullish chatter, this whale’s response appears to embody professional skepticism, positioning for downside rather than momentum continuation. This divergence between symbolic insider confidence and quant-driven bearish positioning highlights a broader dynamic in the current market. Retail participants often react quickly to influencer commentary, while large traders lean on order flow, funding dynamics, and liquidity structure. With Aster trading in a volatile environment and crypto markets under macro pressure, whales appear more focused on risk management and price structure than narrative. The fact that such a large short exists, and continues to grow, suggests that sophisticated players anticipate either further correction or a liquidity event before a sustainable upside move. For traders, the key will be watching whether ASTER approaches the whale’s liquidation zone — a level that could create violent short-covering if reclaimed — or whether the market continues to follow the whale’s thesis and slides lower. Related Reading: Bitcoin Point Of Control Sits At $117K – Key Battle Zone For Bulls ASTER Downtrend Intact Below Key Moving Averages Aster’s price action on the 4-hour chart shows continued weakness despite a brief volatility spike triggered by CZ’s announcement. The token remains in a clear downtrend, consistently trading below the 50-day and 200-day moving averages, signaling that bearish momentum still dominates. The sharp bounce toward $1.25 quickly faded, with sellers stepping in almost immediately and pushing the price back toward the $1.00 zone. This reaction suggests that the rally was driven more by short-term sentiment following CZ’s mention than by sustained demand. The failed breakout attempt also highlights how fragile confidence is in the current market environment. The moving averages are sloping downward, reinforcing a bearish structure, and price has yet to reclaim key resistance levels around $1.20–$1.30, which would be required to signal any meaningful trend reversal. Volume spiked during the recent move, indicating aggressive positioning — likely tied to short buildup from whales, as seen in on-chain data. Related Reading: Bitcoin Records Over $300B Spot Volume In October – Investors Shift Away From Leverage Right now, the $0.95–$1.00 range appears to be acting as immediate support, but if selling persists, a deeper retracement toward prior liquidity zones cannot be ruled out. For bulls to regain control, Aster must reclaim the 50-day MA and hold above it with sustained volume. Until then, caution remains warranted, as price structure favors sellers and broader market sentiment remains fragile. Featured image from ChatGPT, chart from TradingView.com
In an extended interview, President Donald Trump reiterated his pardon for Changpeng Zhao and making America "number one" for crypto.
Warren's lawyer asserts that the Senator's statement that CZ pleaded guilty to a criminal money laundering charge was factual, and thus not defamation.
A Washington, D.C. statue of Changpeng “CZ” Zhao became the center of a memecoin frenzy after the “czstatue” token surged 27,000% in a day before collapsing to near zero.
The pardon could pave the way for Binance's return to the U.S., which would be bullish for the BNB token ecosystem, BNB Network CEO said.
Following speculation regarding a potential return, Changpeng Zhao, known as CZ, the co-founder and former CEO of Binance, has sparked discussions about the implications of his recent presidential pardon for the exchange’s operations in the United States. Will CZ Reclaim His CEO Position At Binance? Industry observers suggest that this major development for CZ and Binance as a whole could pave the way for Zhao to resume leadership roles and consolidate Binance’s US operations. According to Bloomberg, the company is exploring several options, including the possibility of integrating Binance.US into its global operations or having its global exchange enter the US market, as indicated by a source familiar with the matter. Related Reading: Binance Founder Suggests President Trump Could Be Satoshi Nakamoto In Latest Statement “This cycle is largely being driven by U.S. institutional investors and investment products, and that’s precisely where Binance can now shift its focus,” stated Markus Thielen, CEO of 10x Research. He added that the US affiliate will likely be reintegrated into Binance’s global ecosystem, providing US investors with direct access to the platform’s “deep liquidity and comprehensive derivatives offerings.” Attention is now focused on whether Zhao will attempt to reclaim the CEO role he previously stepped away from. In recent weeks, he updated his profile on social media platform X from “ex-Binance” to simply “@Binance,” a subtle change that has fueled speculation about his intentions. However, not everyone believes Zhao is eager to return as CEO. David Namdar, who manages a BNB treasury company backed by Zhao’s family office, commented, “I think he is operating with more of a weight off his shoulders not running the exchange. I’d be surprised if he stepped back into that role.” Industry Leaders Predict Increased Involvement Patrick Horsman, chief investment officer of digital asset treasury (DAT) firm Applied DNA Sciences, which invests in Binance Coin (BNB), emphasized that Binance’s technology, liquidity, and relatively low fees could position it as a dominant player in the American crypto market. However, Bloomberg highlights that the pardon may not only enhance Zhao’s personal prospects but also unlock new opportunities for Binance’s global expansion. Related Reading: Bitcoin Price Update: Key Drivers That May Keep The Bull Run Alive Until Q2 2026 Notably, the firm holds minority stakes in affiliates throughout Asia, including Thailand and Malaysia, where regulatory frameworks impose ownership suitability tests on major shareholders. “A criminal conviction can pose a barrier for any individual seeking a beneficial ownership stake in a regulated or listed company,” explained Chris Holland, a partner at HM, a consulting firm based in Singapore. Cosmo Jiang, general partner at Pantera, anticipates that Zhao will become “more involved with Binance’s operations” now that he has received a pardon. “Whenever a founder returns to a company, it’s always an invigorating moment; you typically see more growth and better execution,” he noted. Featured image from DALL-E, chart from TradingView.com
In a provocative statement, laced with sarcasm, Changpeng Zhao, known as CZ, the co-founder and former CEO of Binance, suggested that President Donald Trump and Bitcoin’s (BTC) creator, Satoshi Nakamoto, could be the same person. This came in the wake of a presidential pardon granted to CZ, as announced by White House Press Secretary Karoline Leavitt. The pardon was described as an exercise of President Trump’s constitutional authority, aimed at addressing charges brought against Zhao by the Biden Administration during its crackdown on the crypto sector. Binance Founder Links Trump To Bitcoin’s Creator CZ’s comments followed a statement from President Trump, who remarked, “Let me just tell you that he was somebody that, as I was told, I don’t know him, I don’t believe I’ve ever met him … he had a lot of support, and they said that what he did is not even a crime.” Related Reading: HYPE Soars Beyond $40 Following Robinhood Listing: What’s Next For Hyperliquid’s Price? CZ later took to social media platform X (formerly Twitter), acknowledging Trump’s comment about not having met him, adding, “It would be my honor someday. President Trump and Satoshi. Might be the same person.” In 2023, the founder of the crypto exchange Binance served a four-month prison sentence after pleading guilty to charges related to anti-money laundering (AML) violations, and he was released in September 2024. Concerns Raised By Democratic Critics Despite their statements, some critics from the Democratic Party have pointed to investments between YZi Labs and the Trump family’s World Liberty Financial (WFLI) as a potential conflict. Related Reading: Volatility Loading: Dogecoin Eyes Explosive Path To $3 Trump has been a skeptic of cryptocurrencies, particularly Bitcoin (BTC). However, since his presidential campaign last year, he has shifted towards supporting pro-crypto regulations, which have contributed to the growth and adoption of digital assets in the country. Featured image from Bloomberg, chart from TradingView.com
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
Waters said the pardon is a result of the Binance founder's lobbying to Trump, his family, and World Liberty Financial.
BNB has seen a 5.5% price jump following the White House announcement that Binance co-founder has been pardoned by US President Donald Trump, leading some analysts to suggest that a new leg up might be around the corner. Related Reading: Crypto Market Records ‘Particularly Robust’ Q3 Performance With 16% Active Trader Growth – Report US President Grants Pardon To Binance Founder On Thursday, the White House revealed that US President Donald Trump had pardoned Binance co-founder and former CEO Changpeng Zhao, also known as CZ, two years after pleading guilty. In an official statement, the White House’s press secretary, Karoline Leavitt, said that the US President “exercised his constitutional authority by issuing a pardon for Mr. Zhao, who was prosecuted by the Biden Administration in their war on cryptocurrency.” Leavitt stated that “In their desire to punish the cryptocurrency industry, the Biden Administration pursued Mr. Zhao despite no allegations of fraud or identifiable victims.” In 2023, Zhao pleaded guilty to Anti-Money Laundering (AML) violations while being the CEO of Binance. As part of his plea deal, he stepped down from his position in the crypto exchange and served a four-month prison sentence last year. Additionally, Binance reached a $4.3 billion settlement with the Department of Justice (DOJ). The White House press secretary affirmed that “these actions by the Biden Administration severely damaged the United States’ reputation as a global leader in technology and innovation,” declaring that “the Biden Administration’s war on crypto is over.” Notably, there have been rumors that President Trump could grant a pardon to Zhao after January’s pardon of Silk Road founder Ross Ulbricht. In March, the Wall Street Journal reported that Zhao allegedly had been “pushing” a Binance US deal for a pardon since 2024. However, he quickly denied these claims. In an X post, CZ thanked the Trump Administration, stating that he is “deeply grateful” for the long-awaited pardon and “to President Trump for upholding America’s commitment to fairness, innovation, and justice.” The Binance co-founder also pledged to “do everything we can to help make America the Capital of Crypto.” CZ Pardon Pushes BNB To $1,100 Following the news, BNB saw a 5.5% jump to reclaim the $1,100 mark. The cryptocurrency has recorded a massive rally over the past few months, reaching a new all-time high (ATH) of $1,375 nearly two weeks ago. Altcoin Sherpa highlighted the altcoin’s price action amid the recent market performance. However, he expressed doubt about whether BNB will “continue being the strongest major or not,” at least in the short term. He suggested that Solana (SOL) could have a better performance in the coming weeks, arguing that “both ETH and BNB had incredible runs previously and probably need more time to chill out.” Related Reading: Fetch.AI CEO Offers Reward To ‘Uncover’ Ocean Protocol’s Alleged $120M FET Dump Since last Friday’s correction, BNB has been trading within the $1,050-$1,125 range, failing to break out of the upper level for the past six days. Analyst Open4Profit noted that if the altcoin reclaims the range’s resistance, the price could rally toward its ATH levels and continue its price discovery uptrend toward the $1,500 target. Market watcher CW pointed out that BNB has two key sell walls ahead, one at the $1,180-$1,190 area and another between the $1,200-$1,220 mark, suggesting that the altcoin could face resistance around these levels if the price breaks out. As of this writing, BNB is trading at $1,116, a 10.5% increase in the monthly timeframe. Featured Image from Unsplash.com, Chart from TradingView.com
On Thursday, President Donald Trump issued a pardon for the former Binance CEO, who previously served four months in prison.
The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.
The pardon could ripple through the crypto market, where Zhao remains an influential figure and Binance still dominates global trading.
Binance Coin (BNB) climbed to a fresh record on Monday, hitting $1,370 after briefly topping $1,355. According to reports, the move came even as the wider crypto market took a heavy blow — a nearly $20 billion wipeout tied to leveraged positions — leaving many tokens under pressure while BNB pushed onward. The token also stood out in the top 20 by market cap by closing the week with a 10% gain. Related Reading: XRP Traders Face Fresh Selling Pressure As Large Holders Move Out BNB Inks New Highs Traders watching price charts pointed to a string of strong moves. After a rally to $860 in July, BNB fell about 14% to $728 and then resumed its rise. It later reached $1,075 before pulling back to $930, and it rode that momentum into the early October peak. During the market-wide sell-off that followed, BNB dipped back toward $855 but then recovered and surged to the current all-time high of $1,375, before easing to around $1,272 in the latest swings. Based on reports, the token has shown repeated cycles of sharp advances followed by manageable declines — a pattern some traders read as an ongoing bull run. #BNB swallowed that dump & made a new ATH binance super cycle. pic.twitter.com/8sihgznGky — Big Wiz ???????????? (@WisdomMatic) October 13, 2025 Traders Spot Parabolic Upswing A number of market voices have described the most recent pattern as parabolic. One prominent trader, posting under the name Big Wiz, said BNB “swallowed” last week’s crash and then went on to print new highs. Charts shared by analysts show steep curves and quick pullbacks, which have been met with buying rather than long-lasting sell pressure. This type of action has led to talk of a “Binance supercycle,” though that phrase is speculative and remains unproven. Some market participants say the rally reflects genuine demand for the token. Others worry that concentrated buying or internal factors could be inflating prices. Speculation And Skepticism Remain Reports have disclosed that not everyone agrees on the cause of the rally. Some investors point to active product launches and community interest on BNB Chain as drivers. Related Reading: Bitcoin Whale Breaks 13-Year Silence, Moves $33 Million To Exchange Others say promotion and market attention could be pushing prices higher without a broad base of support. The claim that BNB is the only top 20 asset to end the week in the green with an 10% rise is a clear data point, but it does not explain the full story behind trader behavior. fudders even try to make this sound like a bad thing? ????????♂️ Please post more of this about #BNB. ???? https://t.co/hOUy6ll4BS — CZ ???? BNB (@cz_binance) October 12, 2025 CZ Sees Strength In BNB Changpeng Zhao, the founder and former CEO of Binance, has commented publicly about BNB’s performance. He has argued that the token’s design, its community, and deflationary aspects support price action. He also suggested that the chatter and fear around BNB have sometimes led to more buying. Featured image from Getty Images, chart from TradingView
According to reports, BNB showed unusual strength during a recent market tumble that wiped out nearly $20 billion in liquidations at the peak. The token barely budged at first — slipping roughly 2-3% during the early shock — and later traded above $1,130, gaining over 10% in 24 hours as buyers returned. Related Reading: A 5% Bitcoin Drop In October? History Shows That’s Rare CZ Pushes Back At Doubters Changpeng Zhao, the former Binance chief, answered critics on social media who suggested BNB’s steady price action deserved closer scrutiny. He mocked those raising alarm, using a laugh emoji and urging people to share more examples of BNB’s strength. He also said he was unaware of any affiliated entities buying or selling BNB in recent days and highlighted the community and infrastructure behind the chain as reasons for confidence. According to CoinMarketCap data, BNB’s limited drop put it in the same group as Bitcoin among the top-five coins that recorded minimal daily losses during the liquidation event. That put BNB in a small set of assets that outperformed peers while the market bled. fudders even try to make this sound like a bad thing? ????????♂️ Please post more of this about #BNB. ???? https://t.co/hOUy6ll4BS — CZ ???? BNB (@cz_binance) October 12, 2025 Community And Utility Provide Support Reports have disclosed several practical reasons why BNB held up. The token offers trading fee discounts, which become more valuable when volatility spikes and trading volume rises. Network revenue also climbed with the surge in activity, giving the token real transactional demand beyond speculation. BNB’s deflationary token design was mentioned as another factor that can support price under stress. Interesting how BNB was barely affected at all. pic.twitter.com/xurnb5vr1a — Jason Appleton (Crypto Crow) (@jasonappleton) October 12, 2025 Some observers have pointed out an additional feature: a lack of market maker involvement. CZ reiterated that claim, saying the project does not rely on affiliated trading entities to prop up price, and that the chain’s community and core functions help absorb shocks. Analyst Views And Market Moves Prominent trader Altcoin Sherpa described the token as “insanely strong,” noting that its outperformance was surprising even during a broad market rebound. Market participants took notice when BNB’s intraday loss turned out to be deeper than its modest seven-day decline, suggesting buying interest reappeared at key levels after the worst of the sell-off passed. $BNB is insanely strong, this surprised me a bit seeing the move today. All majors are bouncing a bit but BNB outperformance still confirms that BSC/BNB ecosystem is the place to play for now. pic.twitter.com/cYDbjJerKo — Altcoin Sherpa (@AltcoinSherpa) October 12, 2025 Some figures in the crypto space reported that certain meme-focused tokens plunged as much as 80% during the same period. By contrast, BNB’s deeper dip at one point reached about 17% before it recovered — a pattern that left traders debating whether the move was driven by genuine demand or by the particular structure of the Binance ecosystem. Related Reading: XRP Traders Face Fresh Selling Pressure As Large Holders Move Out Featured image from Getty Images, chart from TradingView
As BNB’s price records a massive 30% rally, the BNB Chain ecosystem also experiences a remarkable performance, fueled by Chinese-themed memecoins launched on the Four.meme launchpad. Related Reading: BNB Flips XRP’s Market Capitalization As Price Hits $1,300 Record High – What’s Next? BNB Chain Momentum Steals Memecoin Spotlight Amid BNB’s run to the $1,300 barrier, the BNB Chain ecosystem is experiencing a memecoin frenzy, with multiple BNB Chain-based tokens gaining significant traction over the past few days. Notably, the ongoing momentum has seen tokens like Palu (PALU), 币安人生 (BinanceLife), 4 (FOUR), PUP (PUP), and CZ’s Dog (BROCCOLI) record massive rallies. According to DeFiLlama data, the BNB Chain-based memecoin launchpad, Four.meme, has overtaken Pump.fun, Solana’s leading launchpad, in daily revenue. In the past 24 hours, Four.meme has gained around $1.4 million in revenue, surpassing Pump.fun’s $885,420. Meanwhile, CoinGecko data shows that the Four.meme ecosystem tokens have surged around 88% to an overall market capitalization of $1.044 billion and a daily trading volume of $963.4 million. Nonetheless, the Solana-based launchpad continues to lead in higher timeframes, with weekly and monthly revenues of $8.34 million and $40.9 million, respectively. Binance co-founder and former CEO Changpeng Zhao, also known as CZ, highlighted the recent memecoin frenzy in the BNB Chain. On Tuesday, CZ acknowledged the “BNB meme szn” on X, affirming, “I didn’t expect this at all.” On-chain analytics platform Bubblemaps declared that the “BNB memecoin szn is real,” noting that over 100,000 on-chain traders bought into the new memecoin frenzy, with 70% of them being in profit. As the platform detailed, 21,000 investors have made over $1,000, while 900 have earned over $100,000 with the leading tokens. Meanwhile, 40 traders have made over $1 million, and one has profited more than $10 million. Can BNB’s Memecoin Season Last? A crypto community member weighed in on how long the ongoing memecoin trend could last and whether it was worth participating in it. According to the X post, the investor considers that the BNB Chain tokens frenzy might continue, arguing that “this time is different.” Following the rapid surge of BinanceLife, which has reached a market cap of $372 million in less than a week, the investor listed multiple reasons why BNB Chain’s memecoin season could last for a while. They argued that “CZ and He Yi won’t let this wave fade easily,” suggesting that they will “likely keep pushing it forward.” The investor pointed out that the ecosystem is more mature and capital is more abundant. Previously launched memecoins “aimed” for a Binance listing, while the new project’s exit path is clearer. “First generate hype through reposts, then launch on Alpha, followed by listing on Aster spot and Binance spot—each step driving upward momentum in a relentless surge,” they explained. Lastly, the investor argued that the rules have changed, as this Memecoin bull run is spearheaded by the Chinese-speaking community, who “stand at the crest of the wave” this time. “Those who embrace change swiftly profit first; Those with biases neither gain nor lose,” they concluded. Featured Image from Unsplash.com, Chart from TradingView.com
"False news...with with fake/wrong/made-up info and negative narrative," said Changpeng "CZ" Zhao in response to the story.