On the 100th day of Trump's presidency, Wall Street felt like it was sitting on a volcanic crater—his signed "Executive Order No. 77 on the Financial System" directly launched the crypto industry into the stratosphere. Hidden within the document were two nuclear-level clauses: the Treasury is to establish a "dollar stablecoin" to compete with USDT, while ordering the SEC to produce 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 part was the political calculation, as this executive order was purposely released on the eve of the Federal Reserve's interest rate meeting. Now Powell is caught in the crossfire—he has to deal with Trump's demand for a "500 basis point rate cut" while also addressing the resulting 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 frantically pouring into Bitcoin ETFs. But the real drama unfolded on Capitol Hill, where Democratic lawmakers suddenly shifted to support crypto regulation, as their financial backers discovered that the new tax law allows for anonymous political donations using cryptocurrency.