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.
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.”
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.”
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.”
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.
As of this writing, BNB is trading at $1,116, a 10.5% increase in the monthly timeframe.
