On the 100th day of Trump's inauguration, Wall Street felt like it was sitting on a volcano - the executive order he signed, 'Executive Order No. 77 on the Financial System', blew the cryptocurrency industry up. Hidden in the document were two nuclear-level clauses: the Treasury Department is to establish a 'dollar stablecoin' to counter USDT, while ordering the SEC to produce clear standards for token security identification within 90 days. Bitcoin surged past $100,000, while Coinbase's stock price experienced three circuit breakers in a single day amid wild fluctuations.

The most exquisite aspect is the political calculation; this executive order was intentionally released on the eve of the Federal Reserve's interest rate meeting. Now Powell is caught in the fire - he has to deal with Trump's demand for a '500 basis point rate cut' while also responding to 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, with one-third wildly rushing into Bitcoin ETFs. But the real drama is on Capitol Hill, where Democratic lawmakers suddenly collectively shifted to support cryptocurrency regulation because their donors discovered that the new tax law allows anonymous donations of political contributions using cryptocurrencies.