Binance’s BNB Reaches $1,000 Amid DOJ Negotiations and Growing Hints of CZ Comeback

BNB Tops $1,000 as Binance-DOJ Talks and CZ Speculation Boost Market Confidence

BNB, the native token of the BNB Chain and popular for Binance fee discounts, surged past $1,000 for the first time, overtaking Solana to become the fifth-largest cryptocurrency by market capitalization.

The token jumped 4.5% over 24 hours, rising from $956.80 to an all-time high of $1,004, pushing its market cap near $140 billion, according to CoinDesk Research data.

The rally appears to be driven by renewed investor confidence amid reports that Binance is negotiating with the U.S. Department of Justice (DOJ) to lift a key compliance requirement from its $4.3 billion 2023 settlement. Since that settlement, Binance has operated under a court-appointed monitor for anti-money transmitting violations. A successful deal could simplify Binance’s internal reporting obligations, mirroring outcomes seen with other companies released from court oversight.

Speculation about the potential return of co-founder Changpeng Zhao, who stepped down under the DOJ settlement, has also fueled momentum, although no official confirmation has been made.

The broader crypto market has edged higher following the Federal Reserve’s 25-basis-point rate cut, with the CoinDesk 20 Index rising about 3% over the past 24 hours.

Technical Analysis
BNB’s surge began after reports of the Binance-DOJ negotiations emerged. The token traded near $956 in the morning, spiking to $994 in just over an hour amid strong volume. Support formed between $983 and $988, while initial resistance at $995 was tested multiple times before breaking.

A rapid six-minute push drove BNB from $998.74 to $1,004.28, supported by a volume surge eight times the hourly average. New resistance has emerged around $1,005, and support remains just below $1,000, with the token currently trading near $998.

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