On the 100th day of Trump's presidency, Wall Street felt like it was sitting on a volcano—his signed Executive Order 77 on the financial system blew the cryptocurrency industry sky-high. The document contains two nuclear-level clauses: the Treasury must establish a "dollar stablecoin" to counter USDT, and it orders the SEC to provide clear definitions for token securities within 90 days. Bitcoin surged past $100,000, while Coinbase's stock price experienced three circuit breakers in a single day of wild fluctuations.

The most clever part is 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 crossfire—he has to handle Trump's demand for a "500 basis point rate cut" while also managing the ensuing dollar collapse. Goldman Sachs' internal models indicate that the new policy could lead to $2.3 trillion in capital fleeing the bond market, with a third of it rushing into Bitcoin ETFs. But the real drama is on Capitol Hill, where Democratic lawmakers suddenly pivoted to support cryptocurrency regulation because their financial backers discovered that the new tax law allows for anonymous political donations using cryptocurrency.