Binance CZ Reacts to BNB Above $530

CZ had previously revealed he holds a sizable amount of BNB.

Changpeng Zhao (CZ), the founder and former CEO of Binance, reacted to a recent X (Twitter) post, showing BNB’s price at $530, a level last seen since 2021.

Calling CZ’s attention to the BNB price surge, the poster stated on X: “Where are you CZ, come talk to us. Cheer up your beast BNB.” 

CZ reacted with an eye emoji without making any further statements.

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— CZ ???? BNB (@cz_binance) March 11, 2024

A BNB Holder

Back in 2021, CZ revealed that he personally holds BNB. Without revealing the extent of his holdings, he stated that his net worth contained a substantial amount of the coin. With the latest price surge, his holdings are expected to grow further.

BNB has been on a tear in recent months, fueled by gains in the broader crypto market, several rounds of token burn events, and growing activity in the BNB Chain ecosystem.

Data from CoinGecko shows that BNB has shown parabolic growth during the past several months, surging more than 64% over the past 30 days. Specifically, in the past five months, the coin has rebounded 161% from $200 to its current trading price of around $530.

With its current price of $530, BNB is just less than 30% away from hitting its previous all-time high (ATH) of $686, achieved on May 10, 2021 (nearly three years). 

BNB Rallies Despite Regulatory Setbacks 

Interestingly, BNB has continued to rally despite Binance’s setbacks with regulators in the United States.

Recall that the crypto exchange entered a plea deal with the Department of Justice (DOJ) last November to end a long-running investigation that found that it violated the Bank Secrecy Act (BSA), the International Emergency Economic Powers Act (IEEPA), and failed to register as a money transmitting business. The deal, described as one of the largest corporate resolutions, saw the exchange agreeing to forfeit $2.5 billion and pay a criminal fine worth $1.8 billion, totaling $4.3 billion.