Analysis

Binance founder and ex-CEO Changpeng Zhao is set for an early release from prison on Friday after serving time for 118 days. The news, first reported by Fortune Crypto, claims that CZ will walk away from custody with over $60 billion of personal fortune.

BNB bullish rally has hit a wall as the $600 resistance level proves to be a formidable barrier. After an impressive upward run, momentum has stalled, and downside pressure is starting to build. 

In the past few days, BNB outperformed Ethereum and Bitcoin. It remained stable above $535 and started another increase above the $542 resistance zone.

Zhao had admitted to not preventing money laundering on Binance resulting in a $4.3 billion civil penalty for the crypto exchange and a $50 million fine for the Chinese businessman alongside his incarceration which began in June 2024.

Global exchange Binance has addressed the “misleading” claims made by hacked trading platform WazirX, denying any involvement with the Indian exchange and demanding “accountability” from its team after the $235 million crypto heist.

In the past few days, BNB outperformed Ethereum and Bitcoin. It remained stable above $525 and started another increase above the $535 resistance zone.

In the last analysis, we discussed the chance of more gains in BNB price above the $525 resistance. The price outperformed Ethereum and Bitcoin. It surged above the $525 and $535 levels.

After forming a base above the $470 level, BNB price started a fresh increase like Ethereum and Bitcoin. The price was able to climb above the $488 and $500 resistance levels.

Following heavy losses from major cryptocurrencies, BNB has shown some impressive resistance to the price drop, supported by strong demand.

After struggling to test the $540 resistance, BNB price started a fresh decline like Ethereum and Bitcoin. The price declined below the $532 and $520 support levels. There was also a move below $510.

Binance and its former CEO, Changpeng Zhao (CZ), are facing a new legal challenge with a revived class-action lawsuit in the U.S. District Court for the We