Binance's CZ Receives US Presidential Pardon, Drives BNB Momentum
Changpeng Zhao, founder of the Binance crypto exchange, has received a presidential pardon from President Donald Trump. The decision removes legal pressures on both Zhao and Binance, and analysts see this as a fresh catalyst for BNB, the platform�s native token, and its expanding ecosystem.
Background and Legal Context
Zhao faced charges since November 2023 from the US Department of Justice for alleged violations of the Bank Secrecy Act, which aims to prevent money laundering and terrorist financing. Prosecutors accused Binance of failing to establish an effective compliance program under Zhao�s leadership. The presidential pardon absolves Zhao of these federal allegations, enabling Binance to reassess its position in the US market.
BNB Chain's Performance and Network Structure
Market analyst Mike Fay has noted new opportunities for BNB following the pardon. Since January 2025, BNB�s price has climbed more than 60%, reaching an all-time high of $1,300 in early October. This surge outpaced other major layer 1 tokens such as ether (ETH) and solana (SOL).
Despite this rally, Fay underscores risks of centralization within BNB Chain. He points out that the top eight validators control over 40% of staked BNB, giving them significant influence over network governance. Ethereum, by contrast, distributes validation power across thousands of nodes�a structure seen as a pillar of blockchain trust by many observers.
Activity and Usage Metrics
BNB Chain�s on-chain activity shows continued growth. The network processes over 22 million transactions daily, consistently surpassing Ethereum in raw transaction volume. Daily active addresses (DAA) also rose, signaling an accelerating user base. However, BNB Chain remains smaller than Ethereum in key financial maturity indicators, such as total value locked (TVL) in DeFi protocols and the share of real-world asset (RWA) tokenization, where Ethereum captures over half the market, while BNB holds only 2.7%.
Stablecoin and Institutional Trends
BNB Chain stands out in stablecoin activity, leading Ethereum in daily active stablecoin addresses for most of 2025. In September, BNB Chain registered 11 million active stablecoin addresses, outpacing Ethereum�s 3 million. The increase is attributed to lower fees and faster transaction times on BNB Chain.
Institutional interest is also rising. Investment firms REX Shares and Osprey Funds filed with the US SEC for a BNB-based exchange-traded fund (ETF) in August, signaling a potential shift in BNB�s institutional adoption. Recent listings of BNB on major US trading platforms support this momentum.
Industry Perspectives and Outlook
Experts remain cautiously optimistic about BNB�s trajectory. Market consultant Jan Dom�nguez highlights renewed interest in Binance-linked developments following the pardon, including new projects such as Kirghizstan�s planned central bank digital currency on BNB Chain. Both analysts and consultants advise that while the network�s user growth and market integration are positive, ongoing risks�especially around governance centralization and volatility�should not be underestimated.
The US pardon creates opportunities for Binance to re-engage with the American market and for BNB to enter new institutional channels. While the move strengthens Binance�s post-regulatory narrative, analysts recommend close attention to long-term network fundamentals and market reactions.
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