According to a report by the Wall Street Journal, US President Donald Trump recently exercised his constitutional power to pardon Binance founder Changpeng Zhao (CZ), a move that has attracted widespread attention. White House Press Secretary Caroline Levitt confirmed the news in a statement, stating that President Trump "used his constitutional authority to pardon Zhao Changpeng, who was prosecuted and convicted during the Biden administration's aggressive crackdown on the cryptocurrency industry."

Changpeng Zhao, as the founder of Binance, the world's leading cryptocurrency exchange, has always been a prominent figure in the industry. However, he recently found himself at the center of a legal dispute with the US government. The US government conducted a multi-year investigation into Binance and Zhao, accusing them of failing to comply with US anti-money laundering regulations and other alleged financial crimes. Ultimately, Zhao and Binance reached a $4.3 billion settlement to end the investigation against him. This settlement meant that while Zhao faced a substantial fine, he no longer had to confront criminal charges.

After the settlement was reached, Zhao announced his resignation as CEO of Binance, handing over the company's daily operations to other management teams. Despite this, Zhao remains an influential figure in the cryptocurrency industry and continues to have a profound impact on Binance's future development. This pardon means he can return to the public eye and defend himself without facing legal consequences for his past actions.

Trump's pardon of Zhao can also be seen as a continuation of his consistent policy of "white-collar crime pardons." Earlier this year, Trump pardoned BitMEX co-founder Arthur Hayes, who was convicted of violating anti-money laundering regulations. Additionally, Trump pardoned Nikola electric truck company founder Trevor Milton, who was sentenced for fraud, and commuted the sentences of executives involved in the collapse of Ozy Media.

Trump's move to pardon Zhao has sparked controversy over the scope of presidential powers and pardons. Supporters argue that such pardons help address the regulatory challenges faced by the cryptocurrency industry in the US, avoiding excessive suppression of innovation. However, critics believe that Trump's pardons may encourage the spread of financial crimes and could even be seen as condoning certain illegal activities.

This event is undoubtedly a turning point for Binance and the entire cryptocurrency industry. Although Zhao has stepped down from Binance's management, this pardon may provide an opportunity for his future career comeback and bring new discussions and changes to the legal environment of the industry. The regulation of the cryptocurrency industry, particularly how to balance innovation and compliance, will continue to be a focus of attention for all parties.