Binance-Linked Token Hits Record With Zhao Pardon Buzz

Changpeng ZhaoPhotographer: Samsul Said/Bloomberg

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By Suvashree Ghosh

September 22, 2025 at 11:00 AM UTC

Corrected

September 23, 2025 at 11:02 AM UTC

A cryptocurrency with ties to Binance Holdings Ltd. struck an all-time high as speculation builds that the digital-asset exchange’s co-founder Changpeng Zhao will be granted a US presidential pardon.

The BNB token, the fifth-largest by market value, surged over the weekend to reach $1,083 on Sunday, according to data compiled by Bloomberg. BNB retreated on Monday alongside Bitcoin and Ether in a broad market selloff.