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

The most exquisite aspect is the political calculation; this executive order was deliberately released on the eve of the Federal Reserve's interest rate meeting. Now Powell is being grilled – he has to deal with Trump's request for a "500 basis point rate cut" while also managing the resulting collapse of the dollar. Goldman Sachs' internal models show that the new policy could lead to $2.3 trillion in capital fleeing the bond market, with one-third of that rushing into Bitcoin ETFs. But the real drama is on Capitol Hill, where Democratic lawmakers suddenly turned to support crypto regulation because their donors found that the new tax law allows anonymous donations for political contributions using cryptocurrency.