In the world of cryptocurrency, Binance‘s former CEO, Changpeng “CZ” Zhao, has been one of the most significant figures. Last year, he faced serious allegations, was found guilty, and subsequently sentenced to prison. During the process, Zhao repeatedly requested the lifting of his travel ban, but the court denied his requests. In addition to Zhao’s sentence, Binance was also ordered to make a substantial payment.
CZ’s Release Date Announced
CZ, the founder and former CEO of Binance, the largest cryptocurrency exchange by volume, faced serious charges last year and was found guilty, receiving a prison sentence of less than one year.
Recent data from the US Federal Bureau of Prisons indicates that CZ will be released on September 29, 2024. It appears increasingly likely that Zhao will indeed be released within the specified timeframe.
There were comments suggesting that the process involving the former CEO of Binance could affect the exchange and its native token, BNB. However, this did not happen as expected. The new CEO, Richard Tang, who took over from CZ, stated that they would work in harmony with institutions, and soon after, the dark clouds over the exchange dissipated quickly.
Following the mentioned process, both the exchange and BNB performed better than expected, with BNB even reaching a new ATH of $720.
BNB’s Current Value
While Binance remains the world’s largest exchange by volume, its native token BNB continues to attract attention. Despite being far from its ATH, BNB’s price today reflects only a 0.32% drop, trading at $536, despite significant declines in BTC.
BNB’s market cap has fallen to $78 billion, yet it still holds the 3rd position in market cap rankings when Tether is excluded. BNB’s trading volume has dropped by over 8%, remaining at $1.46 billion.
