Speculation is heating up that Changpeng “CZ” Zhao, the founder of Binance, could be preparing for a dramatic return to the exchange he was forced to leave nearly two years ago.
Despite publicly denying such intentions, CZ’s latest moves — including a bio change on X and bold new plans for the BNB ecosystem — have reignited rumors of a comeback just as Binance edges closer to shedding its U.S. compliance restrictions.
The speculation began when CZ quietly updated his X profile on Sept. 17, changing it from “ex-@binance” back to simply “@binance.” The timing was striking: nearly two years after stepping down as CEO in November 2023 following a $4.3 billion settlement with the U.S. Department of Justice (DOJ).
As part of that deal, CZ pleaded guilty to violating anti-money laundering laws, paid a $50 million fine, and was barred from managing or operating Binance. Richard Teng stepped in as CEO, while Binance operated under DOJ-imposed compliance oversight.
Now, reports suggest the DOJ is preparing to lift those restrictions — one of the final legal barriers preventing CZ from reassuming a leadership role. While CZ insists he has no interest in returning as CEO, the timing of his bio change and renewed activity within the Binance ecosystem have fueled speculation that a comeback may be imminent.
Adding to the buzz, CZ recently unveiled ambitious plans to launch a BNB Treasury Company, designed to drive institutional interest in Binance Coin (BNB) and reshape its ecosystem.
Speaking with Leon Lu, founder of B Strategy, CZ described BNB as a “true utility coin” with unmatched multi-chain functionality and use cases ranging from trading discounts to cross-border payments and DeFi applications.
According to CZ, the Treasury initiative is aiming for a $1 billion raise, with support from YZi Labs and growing institutional demand. He claimed more than 50 companies have already approached him about BNB exposure, though he emphasized support would only go to “the very top, strong ones.”
This effort, dubbed by some as a potential “BNB MicroStrategy,” highlights how corporate treasuries could increasingly view BNB as a reserve asset. It also underscores CZ’s enduring influence over Binance’s ecosystem, even from the sidelines.
The dual narrative of CZ’s possible return and the Treasury Company launch has lit a fire under BNB’s price. The token recently hit a new all-time high of $962, with analysts predicting a breakout past the $1,000 psychological mark.
Momentum has been fueled by strong institutional interest and bullish technicals: MACD indicators point to continued upside, while RSI readings suggest short-term overheating but sustained long-term momentum. Immediate resistance lies at $980, with support around $920 and $880 if a pullback occurs.
Even after stepping away, CZ’s influence on Binance remains undeniable. His bio change and the Treasury plans have re-centered him in the narrative just as regulatory headwinds may be easing for the exchange.
While CZ continues to deny any desire to return, many in the industry are skeptical. With Binance facing both competitive and regulatory challenges, some argue that only its founder has the clout to lead the exchange into its next chapter.
Whether the speculation proves true or not, CZ’s fingerprints are once again all over Binance’s trajectory — and the market is taking notice.
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