Binance-Linked Token’s Record Cements Zhao as Richest US Inmate

The BNB token, a cryptocurrency linked to Binance and its incarcerated co-founder Changpeng Zhao, surged to a record high in the first week of his four-month jail sentence in the US.

Its rally underscores Zhao’s status as the richest person ever to do time in a US federal lock up. Zhao reported to a prison in California on Tuesday to begin a four-month sentence for failing to properly safeguard the world’s largest crypto exchange against money laundering.

The price of BNB climbed to a peak of $717.48 on Thursday, lifting its market capitalization to $109 billion, according to ...