On the 100th day of Trump’s inauguration, the entire Wall Street felt like it was sitting on a volcano — the Executive Order No. 77 on the financial system that he signed directly blew the crypto industry up. The document hid two nuclear-level clauses: the Treasury is to establish a "dollar stablecoin" to counter USDT, while ordering the SEC to come up with clear token security identification standards within 90 days. Bitcoin surged past $100,000, while Coinbase's stock price experienced three circuit breakers in one day amid wild fluctuations.

The most exquisite part is 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 a dilemma — having to deal with Trump's demand for a "500 basis point rate cut" while also responding to the resulting dollar collapse. Goldman Sachs' internal models show that the new policy could lead to $2.3 trillion in capital fleeing the bond market, with one-third rapidly flowing into Bitcoin ETFs. But the real drama is on Capitol Hill, where Democratic lawmakers suddenly shifted to support crypto regulation because their financiers discovered that the new tax law allows anonymous political donations using cryptocurrency.