On the 100th day of Trump's presidency, Wall Street felt like sitting on a volcano—his signed "Executive Order No. 77 on the Financial System" directly blasted the crypto industry to the skies. The document contained two nuclear-grade clauses: the Treasury is to establish a "dollar stablecoin" to counter USDT, while ordering the SEC to produce clear token security identification standards within 90 days. Bitcoin surged past $100,000, while Coinbase's stock price experienced wild fluctuations, triggering three trading halts in a single day.

The most exquisite part was the political calculation; this executive order was deliberately released on the eve of the Federal Reserve's interest rate meeting. Now Powell is caught in the fire—having to deal with Trump's demand for a "500 basis point rate cut" while facing the ensuing dollar collapse. Goldman Sachs' internal model indicates that the new policy could lead to $2.3 trillion in capital exiting the bond market, with one-third wildly flowing into Bitcoin ETFs. But the real drama unfolded on Capitol Hill, where Democratic lawmakers suddenly turned to support crypto regulation because their donors found that the new tax law allows for anonymous political donations using cryptocurrency.