Binance’s native token, BNB, surged past the $1,000 milestone for the first time on September 18th, marking a historic achievement. This rally propelled Binance’s market capitalization to nearly $140 billion, solidifying its position as the world’s leading cryptocurrency exchange.
Reflecting on its humble beginnings, BNB was priced at a mere $0.10 during its initial coin offering (ICO) on July 2, 2017. Over the course of approximately 3,000 days, its value skyrocketed by an astonishing 10,000 times. In a heartfelt message on social media platform X, Binance founder Changpeng Zhao (CZ) expressed his awe at this remarkable feat.
“As an individual member of the BNB and cryptocurrency community, and a BNB holder myself, I extend my gratitude to everyone within the BNB ecosystem and the broader crypto space for their unwavering support.”
“Our journey hasn’t been without challenges, but we’ve persevered, built, and remained steadfast. This success is a true testament to the power of community collaboration!”
“This is just the beginning. Together, let’s strive for the next 10,000x!” – Changpeng Zhao, Binance Founder.
BNB’s recent surge coincides with positive developments regarding Binance’s regulatory landscape. The exchange has petitioned the U.S. Department of Justice to terminate its monitoring program, stemming from a 2023 money laundering plea agreement. Ending this oversight could pave the way for Binance to resume full operations, unencumbered by previous restrictions.
In May, the U.S. Securities and Exchange Commission (SEC) announced a settlement with Binance, concluding its investigation without further action. Following this, CZ expressed his desire for a presidential pardon from Donald Trump, citing his collaboration with Trump’s World Liberty Financial project and its USD1 stablecoin initiative.
Notably, Binance faced a $4.32 billion fine, while CZ resigned as CEO and served a four-month prison sentence for “failure to comply with anti-money laundering regulations” and violating U.S. sanctions. He completed his sentence in late September of last year.
Born in 1977, CZ is a Canadian national of Chinese descent. He holds a degree in computer science from McGill University and has worked at the Tokyo Stock Exchange and Bloomberg LP’s financial subsidiary.
Prior to founding Binance in July 2017, CZ was part of the Blockchain.info development team and served as CTO of OKCoin, then the world’s second-largest cryptocurrency exchange.
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