BNB Retreats After Surging Past $1,000! CZ’s Return to Binance Faces Strong Pushback from U.S. Officials
TradingKey – Changpeng Zhao’s potential return to Binance remains uncertain, as BNB pulls back below the $1,000 mark.
On Friday, September 19, Binance Coin (BNB) gave back some of its recent gains, falling below $990 and currently trading at $986. Just yesterday, BNB had surged past the $1,000 threshold, hitting a new high of $1,006.
BNB Price Chart – Source: TradingView
News reports suggest that CZ’s comeback at Binance is facing political resistance. On Thursday (ET), U.S. Senator Elizabeth Warren and several congressional colleagues sent a letter to Attorney General Pam Bondi, requesting details about meetings with Binance and inquiring whether a presidential pardon for CZ is under consideration.
According to a September 16 report, Binance is negotiating with the U.S. Department of Justice to lift regulatory conditions that had previously forced CZ to step down. However, the sudden involvement of multiple U.S. officials has cast doubt on his reinstatement, potentially undermining community confidence and limiting BNB’s upside momentum.
Related Articles
[Reuters Analysis] Heightened uncertainties feed Fed inconsistencies: McGeever
By Jamie McGeever ORLANDO, Florida, Sept 18 (Reuters) - The Federal Reserve cut interest rates on Wednesday for the first time in nine months, arguing the move is necessary to counter increasing risks to the labor market. The rationale is sound enough. There's only one problem - it seems to c...
Chinese Stocks Surge in September. Here Is Why
TradingKey - Chinese stocks listed in the U.S. had a great day on Wednesday. The Nasdaq Golden Dragon China Index jumped nearly 3%, with Baidu surging over 11% and Alibaba climbing more than 2% — helping to drive the rally across the board.-cccdb2d197854910aea8da91a396633f.png)
Fed Rate Cut Finally Arrives,Dollar Index: Negative Catalysts Largely Priced In,Euro Rally May Be Running Out of Steam
Tradingkey - The Federal Reserve lowered the target range for the federal funds rate by 25 basis points to 4.00%–4.25% late yesterday, as widely expected, and signaled two additional rate cuts this year.
Fed to Cut Rates: All Asset Prices Up!
TradingKey - The Federal Reserve is almost certain to restart its interest rate cut cycle on 17 September this year. After in-depth research, we have concluded that cryptocurrencies, the broader U.S. stock market, and short-term U.S. Treasury bonds will all go up.
