On the day of Trump's 100th day in office, Wall Street felt like it was sitting on a volcano—his signed "Executive Order 77 on the Financial System" directly launched the cryptocurrency industry into the stratosphere. Hidden in the document were two nuclear-level clauses: the Treasury is to establish a "dollar stablecoin" to counter USDT, while ordering the SEC to produce clear standards for token securities within 90 days. Bitcoin surged past $100,000, while Coinbase's stock price experienced wild fluctuations, triggering three circuit breakers in a single day.

The most exquisite aspect was the political calculation; this executive order was deliberately issued on the eve of the Federal Reserve's interest rate meeting. Now Powell is caught in the hot seat—he has to deal with Trump's demand for a "500 basis point rate cut" while also managing the ensuing collapse of the dollar. Goldman Sachs' internal models indicate that the new policy could lead to $2.3 trillion in capital fleeing the bond market, a third of which is rushing into Bitcoin ETFs. But the real drama unfolded on Capitol Hill, where Democratic lawmakers suddenly shifted to support cryptocurrency regulation because their benefactors discovered that the new tax law allows anonymous donations to political contributions using cryptocurrency.