Overview

• BNB climbed roughly 5% to about $960, marking a record high following Changpeng Zhao’s profile update.
• BNB’s 24-hour spot volume rose 37.3% to $3.31 billion and futures open interest increased 10.5% to over $1.83 billion, according to Coinglass.
• Multiple outlets report Binance may be close to a U.S. Justice Department arrangement that would end compliance monitoring, a development not yet confirmed.
• Zhao cannot manage or operate the exchange under the terms of his plea agreement, and Richard Teng remains CEO.
• Zhao retains a majority stake and voting rights that allow influence over governance despite his absence from day-to-day control.