After U.S. President Donald Trump pardoned Binance founder Changpeng Zhao (CZ), cryptocurrency traders expect BNB to see a significant rise in the coming weeks.

Changpeng Zhao admitted to a charge in November 2023 for failing to implement adequate anti-money laundering (AML) measures at Binance, violating the Bank Secrecy Act.

Within hours of The Wall Street Journal reporting Trump's pardon of Zhao, the price of BNB surged by 3.6%, reaching an intraday high of $112.1. This followed months of lobbying and appeals by the company and Zhao.

"Trump just pardoned CZ. Now we are back to the season where BNB only goes up," cryptocurrency trader Xeer stated in a post on Thursday.

This wave of growth also extended to World Liberty Financial (WLFI), the native token of Trump's son's cryptocurrency company, which, according to CoinMarketCap data, has also risen nearly 14% to $0.1414 since the news broke.

The price surge has sparked speculation that this enthusiasm could extend to the broader cryptocurrency market.

Richard Seiler, co-founder of RR2Capital, stated in a post on X after the news broke: "Cryptocurrency now needs a catalyst… this is likely it."

Another cryptocurrency trader, Galaxy, remarked: "Is it BNB now, and then altcoins next?"

This comes in the context of BNB being listed on Coinbase and Robinhood earlier this week, as well as an increasing number of publicly traded companies incorporating BNB into their treasury holdings.

On Wednesday, shares of biotechnology company Applied DNA Sciences jumped over 50% during the trading day after the company disclosed it had purchased 4,908 BNB tokens, worth approximately $5.3 million.

Related: BNB treasury competition accelerates as Applied DNA and CEA Industries expand holdings

Original: “Traders bullish on BNB 'only goes up' after Trump pardons CZ”

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