Brothers, something huge has happened! Was he officially appointed as the chair of the Federal Reserve, and is the crypto market finished—or can it still survive?

Brothers, just in the early hours today, the U.S. Senate rubber-stamped it—Wassh officially takes office as the chair of the Federal Reserve!

The moment the news broke, U.S. stock index futures immediately slid, the U.S. dollar surged, and the crypto market started to jump around. Don’t panic—we’ll use plain talk to sort out what this guy is really about. For the coins in our hands, is it a sword or candy?

Who is Wassh? In one sentence: hawkish and ruthless—he doesn’t care for Bitcoin.

This person is not a rookie. Back in the Bush era, he served as an economic advisor, and during the 2008 financial crisis, he pushed for tough regulation—straight up. Now that he’s become the head of the Fed, he’s basically tied to three labels:

· Likes rate hikes: He’s been criticizing the previous Federal Reserve for cutting rates too aggressively. In his view, if inflation isn’t brought under control and you just “flood” liquidity, that’s basically courting disaster. So once he takes office, he most likely won’t cut rates—and he might even keep raising them.
· Looks down on crypto: As far back as 2023, he wrote articles saying Bitcoin is a speculative tool, and that stablecoins could create systemic risks. He wants to push all crypto assets into traditional banking regulation.
· Stands firmly for the U.S. dollar: He said, “Don’t expect digital currencies to move the U.S. dollar’s position.” He’s indifferent even to a digital dollar, and don’t even get to the idea of letting Bitcoin become a reserve asset.

In the short term: money will get more expensive, and the crypto market may take the first cut

The first thing this guy will do after taking office is quantitative tightening plus hints of rate hikes. For our crypto scene:

· Big majors and U.S. stocks are the hard-luck duo: As there’s less money in the market, leverage funds will run first, and Bitcoin may well fall along with the stock market. If in June he drops a few more harsh comments, BTC could be smashed again.
· Stablecoins will get tightened up: He previously called out USDT and USDC as being opaque. Going forward, he may force stablecoins to be held in bank custody—money would get pulled out of DeFi all at once, leading to sharp swings in the short term.

In the long term: a good cleanse is healthier—only the ones who survive are the real bosses

But don’t rush to dump and run. Every major “clean-up” also hides opportunities.

$ETH ‌