Many experts predict that the trade price of Bitcoin will soon surge above the $70k level. Along with multiple bullish factors, CZ is also getting ready to be released from jail and interact with the crypto industry.
Changpeng Zhao (CZ) is the co-founder and former CEO of top crypto exchange Binance. Three months ago, he was sentenced to jail over violating US Anti-Money Laundering measures, as the Binance platform provided crypto trading services to American customers without getting registered with the corresponding authorities or obtaining a crypto licence.
Now, the sentencing period is over, and insiders confirm that he will be released from jail on 29 Sep 2024, which means only two days remain.
Some media reports claim that CZ will be released on 28 Sep instead of 29. This is because 29 Sep is a Sunday, so they may release him one day earlier.
On the other hand, some people speculate that he will be released today (Friday).
Here, our readers should know that CZ will be restricted from playing any role as a Binance executive, but he will remain the owner. This means he will not be allowed to interact with Binance’s crypto business directly, as part of his settlement with US authorities.
While this is certainly good news for CZ and his supporters, people should understand that a major opportunity is associated with this development. It is expected that the trade price of Bitcoin (BTC) will receive a strong bullish boost, leading to a bigger rally as the positive sentiment continues.
Additionally, there is speculation that the trade price of Binance Coin (BNB) will also surge significantly.
BNB Price Action
The current trade price of BNB is $602, which is already 90% higher year to date (YTD).
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