A notable financial policy game has recently emerged in Washington's political arena. The White House is actively promoting Stephen Milan to take the helm of the Fed, a move interpreted as an attempt to influence monetary policy. The timing of this action is quite sensitive, coinciding with the eve of the September FOMC meeting, seemingly aimed at affecting the interest rate cut decision.

Milan has previously criticized the politicization of central bank policies multiple times, yet now has become a pawn in political maneuvering, which raises deep reflections.

For the cryptocurrency market, changes in this macroeconomic environment may have complex effects. If Milan successfully pushes for interest rate cuts, expectations for dollar liquidity will greatly increase, potentially stimulating the price of Bitcoin and other mainstream cryptocurrencies to rise. However, this short-term benefit hides long-term risks. If the independence of the Fed is eroded, market volatility may intensify, and investors will face higher risks of policy uncertainty.

In the short term, market sentiment may become optimistic due to expectations of interest rate cuts and the addition of dovish figures. However, rational investors have already begun to prepare for possible "black swan" events, such as unexpected increases in government bond yields or controversial remarks following Milan.

In light of the current situation, the investment strategy recommendations are as follows:
1. Gradually increase holdings in mainstream cryptocurrencies such as Bitcoin and Ethereum, but retain some funds to respond to market reversals.
2. Pay close attention to the volatility changes before and after the interest rate decision; options traders may consider corresponding strategies.
3. Hold crypto assets with regulatory resistance characteristics for the long term, in case they become a safe haven when the credibility of the traditional financial system is damaged.

It is worth noting that Milan's appointment may just be the prologue. If certain political forces win in the upcoming elections, the Fed may face a broader range of reforms. In such a scenario, the formulation of monetary policy may be more influenced by political factors and public sentiment, further increasing uncertainty in the market.

In such an environment, the decentralized characteristics of crypto assets may receive more attention. Investors should closely monitor policy trends while recognizing that when the independence of central banks is challenged, decentralized cryptocurrencies may become an important alternative.