BNB Price Rallies as Trump’s Pardon of Binance Founder CZ Sparks Political Debate

BNB price has jumped 2% in the last 24 hours, climbing to $967 on a 47% plunge in the daily trading volume to $3.54 billion

The surge in BNB price comes as the White House defends President Donald Trump’s decision to pardon Binance founder Changpeng Zhao (CZ), rejecting allegations of corruption and conflicts of interest. Press Secretary Karoline Leavitt said the pardon aimed to end what she called the “Biden administration’s war on the cryptocurrency industry.” She emphasized that Trump had no personal relationship with Zhao and that all clemency decisions undergo a thorough legal review.

The move sparked backlash from lawmakers, including Senators Elizabeth Warren and Chris Murphy, who accused Trump of corruption after reports linked Binance to World Liberty Financial — a crypto firm backed by the Trump family. In March, Binance reportedly facilitated a $2 billion purchase of USD1, the firm’s stablecoin, through Abu Dhabi’s MGX fund.

Trump dismissed any ties to the deal, insisting his sons operate independently. Zhao, who pleaded guilty in 2023 to anti-money laundering violations and served four months in prison, is now threatening to sue Warren for defamation. Binance CEO Richard Teng has denied wrongdoing, saying the USD1 listing was purely business. Meanwhile, Binance is exploring a U.S. market reentry following Zhao’s controversial pardon.

BNB Price Holds Near $960 as Bulls Protect Key Support Zone

BNB is trading around $960, slightly up after a recent drop that saw the price fall from above $1,200. The token has lost about 20% in the past week as traders took profits and market sentiment cooled.

The daily chart shows that BNB’s strong rally has slowed after breaking below its parabolic curve. This curve had guided its sharp rise from around $500 to over $1,200 in the past few months. The price is now testing a key support zone between $940 and $970, which is a crucial level that could determine BNB’s next move.

Earlier this year, BNB traded sideways in a long consolidation zone before breaking out in August. That breakout initiated a strong bullish trend, which lifted the coin to new yearly highs. However, the recent correction shows that the market is cooling off as buyers and sellers battle for control.

BNBUSDT Analysis Source: Tradingview

The Relative Strength Index (RSI) now stands near 36, showing that BNB is close to the oversold area. This means selling pressure might be slowing down, and buyers could step in soon. If bulls defend the support zone, BNB could bounce back toward $1,050 or higher. But if the price closes below $940, it could drop further toward $850.

At the moment, traders are watching this support level closely. Holding above it would signal that BNB is ready to stabilize and possibly recover. A rebound could restore confidence and push prices back toward the $1,200–$1,300 range.

The current support zone will play a key role in deciding whether BNB resumes its upward trend or continues its correction in the coming days.