Binance’s Changpeng Zhao Early Release Will Surge $BNB Price to $700 🧧
Changpeng Zhao (CZ), founder of Binance, was released two days ahead of schedule from a halfway house in Long Beach, California. His early release was due to his original release date falling on a weekend.
CZ's release is expected to influence the cryptocurrency market, particularly Binance Coin (BNB). Despite stepping back from daily operations, Zhao remains the majority shareholder of Binance.
Zhao had been serving a four-month sentence following a plea deal. He spent two months in a minimum-security prison before being transferred to the halfway house.
Since his release, CZ has not made any public statements. However, through his legal team, he expressed a desire to reunite with his family, including his children and ex-girlfriend He Ye, who holds a senior position at Binance. His family played a significant role in his legal defense, providing character references that helped shape the terms of his sentence.
Although Zhao is no longer involved in Binance's day-to-day operations, his ownership of the company allows him to influence its broader strategies, particularly as Binance navigates regulatory challenges. Currently, Binance is focusing on growth in Asian and offshore markets while still facing scrutiny from U.S. regulators.
The market has responded positively to CZ's early release, with Binance Coin (BNB) rising by 2% in recent days, and further gains are anticipated. Analysts suggest that BNB could break through the $600 resistance level, possibly reaching $722. The launch of Binance’s Pre-Market service is also expected to boost trading activity, further supporting BNB's price increase.
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