BNB briefly crossed $1,080 over the weekend before cooling near $1,004 as broader crypto markets pulled back.

The rally was driven less by fundamentals and more by political speculation, i.e., traders are betting on the possibility that US President Donald Trump could pardon Binance founder Changpeng Zhao (CZ).

Zhao’s Sentencing in 2023

Zhao stepped down as Binance CEO in 2023 and served a short prison term tied to the exchange’s $4.3 billion settlement with US regulators.

He has since sought clemency, and betting markets recently valued his chances of a pardon at more than 60%, though those odds have slipped closer to even.

Still, the prospect of a pardon has energized BNB bulls, with traders seeing it as a potential game-changer for Binance’s regulatory future and its native token

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