BNB, Binance's exchange token and BNB Chain's native token, reached an all-time high of over $700 last week. 

The token was sitting at $312 at the start of the year but rallied to over $600 by mid-March, bolstered by the broader crypto rally and some positive advancements for Binance in their post-CZ era.

As a reminder, Binance settled with the U.S. Department of Justice for $4.3 billion last year, and the exchange’s former CEO, Changpeng Zhao, pleaded guilty to anti-money laundering violations and stepped down from his post. Zhao was sentenced to four months in prison, relatively short compared to the 36 months prosecutors had recommended.

Under new CEO Richard Teng, the exchange has been ushering in a new wave of compliance, most recently signaling that it will restrict …