Brothers, something big has happened! Wosh officially becomes the Federal Reserve Chair, is the crypto world doomed or can it survive?

Brothers, just this morning, the U.S. Senate approved—Wosh officially took office as Fed Chair!
Once the news broke, U.S. stock futures immediately fell, the dollar surged, and the crypto market started to fluctuate wildly.
Don’t panic, let’s use plain language to understand who this guy really is, and whether the coins in our hands are a sword or sugar?
Who is Wosh? In one sentence: both hawkish and ruthless, he looks down on Bitcoin.
This person is not a rookie. During the Bush Jr. era, he was an economic advisor, and during the 2008 financial crisis, he advocated strict regulation. Now that he’s the head of the Fed, here are three labels:
· Likes rate hikes: He has always criticized the previous Fed for cutting rates too aggressively, believing that flooding the market with liquidity without controlling inflation is a suicide move. So when he takes office, he’s unlikely to cut rates, and may even continue to hike.
· Looks down on crypto: In 2023, he wrote an article saying Bitcoin is just a speculative tool, and stablecoins could pose systemic risks. He wants to push all crypto assets into traditional banking regulation.
· Staunch defender of the dollar: He said, “Don’t try to challenge the dollar’s position with digital currencies,” and is indifferent to digital dollars, let alone making Bitcoin a reserve asset.
Short-term: money will become more expensive, and the crypto market may take a hit first
The first thing this guy does is shrink the balance sheet + hint at rate hikes. For our crypto market:
· Bitcoin and the stock market are close siblings: as money in the market decreases, leverage funds will exit first, and Bitcoin is likely to fall along with stocks. If he makes more harsh remarks in June, BTC might crash again.
· Stablecoins will be targeted: He previously pointed out USDT, USDC as opaque. In the future, stablecoins may be forced to be bank-custodied, causing DeFi funds to be suddenly withdrawn, leading to short-term volatility.
Long-term: wash and become healthier, only those who survive are the real players
But don’t rush to sell everything and run away; every major cleanup hides opportunities.