The price of Binance Coin $BNB has hovered around the $615 mark for several weeks, but a game-changing development could be on the horizon. The potential catalyst? A presidential pardon for Changpeng “CZ” Zhao, the influential founder of Binance, by former U.S. President Donald Trump.
According to a recent Bloomberg report, CZ has retained high-profile attorney Teresa Goody Guillen of Baker & Hostetler to seek executive clemency. Although CZ has already served his sentence, he remains a convicted felon something that could limit his future business activities in the U.S., especially in the financial and tech sectors.
Why a Pardon Could Boost BNB
A pardon could have a profound impact on BNB for two major reasons:
Restored Sentiment & Trust:
CZ remains a beloved figure in the crypto community. When he was released from prison in 2024, BNB surged as a show of investor confidence. A pardon would likely generate similar bullish sentiment.
Pathway to Relaunch Binance US:
A clean slate would make it significantly easier for CZ to revive Binance’s U.S. operations. It would also reassure banking institutions and partners that might otherwise shy away from associating with a convicted felon.
Historically, BNB has moved in tandem with major Binance developments. For instance, the coin rallied when the SEC reached a settlement with Binance during Gary Gensler’s tenure as SEC Chair.
Trump’s previous pardons of crypto figures such as Arthur Hayes, Roger Ver, and Ross Ulbricht show a pattern and the recent involvement of Trump family members with Binance through World Liberty Financial only adds fuel to speculation.
Technical Forecast: Cup and Handle Pattern Signals $1,100 Target
From a technical perspective, BNB is forming a long-term Cup and Handle pattern that began in May 2021 when it peaked at $662. This classic bullish setup features:
A rounded "cup" with a base near $210
A "handle" that has been consolidating since March 2024
According to technical principles, the projected breakout from this formation could take BNB to $1,100, provided the price breaches key resistance levels at $740 and the psychological threshold at $1,000.
