Trump pardons CZ: a turning point in personal fate, marking the end of the "Crypto Assets War".

On October 24, White House Press Secretary Caroline Levitt stated in an official statement, “President Trump exercised his constitutional power to pardon CZ, who was prosecuted in the Biden administration's war against Crypto Assets, with the judgment being excessively harsh. Now the war on Crypto Assets has ended.” The pardon of CZ is not only a turning point in his personal fate but is also widely regarded as a strong signal of the U.S. government's policy shift towards the Crypto Assets industry, indicating that the industry is gaining higher political attention and a more lenient regulatory environment. A presidential pardon does not completely eliminate the charges but can restore certain rights, and the pardon could allow CZ to return to the management of CEX or open the door for CEX to operate in the U.S. again. In early September this year, rumors began to circulate about his possible pardon after CZ quietly removed the label “former @CEX” from his personal profile. CZ initially denied reports that he was lobbying for a pardon but later admitted in a podcast that he had submitted a formal pardon request. His criminal record had previously been a tricky issue in CEX's business dealings, affecting its ability to apply for regulatory licenses and open bank accounts around the world. Although CZ has resigned as CEO, his personal reputation and industry influence remain crucial to CEX, and the pardon will enhance CEX's confidence in the global market. However, Trump's decision to pardon CZ is likely to provoke strong criticism from Democrats. Earlier this year, Democrats demanded that the Trump administration provide details regarding communications with CEX and CZ on the pardon issue, explicitly pointing out that the financial connections between CEX and the Trump family have raised ethical concerns. While Trump brings favourable information to the market, the Crypto Assets sector's reliance on Trump's political status becomes an implicit uncertainty, making it particularly important to focus on Trump's performance in the 2026 midterm elections.