When Trump, in his signature casual tone at a White House event, pointed to the audience and said, "There is a 'potential' Federal Reserve Chair sitting here," Wall Street perked up. The Kevin Hassett he mentioned, an economist holding millions of dollars in Coinbase stock, instantly became the focus of global financial markets.

According to the latest data from the prediction market Polymarket, Hassett's odds of becoming the Federal Reserve Chair have skyrocketed to 78%. That steep curve is not just a trace of capital betting but also signals a profound power restructuring is about to unfold.

This is not merely a personnel change; it is a potential upheaval that could undermine the independence of the Federal Reserve, reshape U.S. monetary policy, and bring a historic turning point for the crypto market. As insider information leaks out, the blueprint for the "merger" of the money printer and the Treasury is faintly emerging, accelerating the arrival of a new financial era dominated by crypto stakeholders.

1. Market Signals: Capital Votes with Its Feet, Seizing Opportunities in the New Era

The market's reaction is always the fastest and most genuine. Before Trump's "spoiler," astute funds had already quietly taken action.

● Surge in Prediction Data: As a barometer of prediction markets, Polymarket shows Hassett's odds skyrocketing from less than 30% in November to 78% in December, which is no coincidence. Speculators see that behind this orange curve is the early positioning of institutional investors and hedge funds based on political intelligence. They are betting not just on Hassett personally but on the policy shift he represents—a more accommodative and crypto-friendly macro environment.

● Wall Street's Interpretation: Traditional analysts initially scoffed at this, considering it mere political noise. However, with Trump's public hints and subsequent revelations, major firms like Goldman Sachs and Morgan Stanley began urgently assessing risks. A leaked memo indicated that some trading departments had adjusted strategies to increase allocations to crypto-related assets, in case the "policy ceiling" was suddenly removed. Capital is betting real money on this upheaval.

● Crypto Market Frenzy: Bitcoin and Ethereum surged over 15% in a single week following the news, and Coinbase's stock hit a new high for the year. The logic for investors is simple: if Hassett takes office, the Federal Reserve Chair will be deeply tied to the interests of crypto giants, significantly reducing the threat of regulatory crackdowns, and liquidity gates may be fully opened.

2. Trump's "Leak": Validating Preferred Status, Sounding the Starting Gun

Trump's seemingly casual remarks are, in fact, carefully orchestrated political signals. His words are known for their blend of "truth and fiction," but this time the direction is clear.

● Weight of Public Hints: At that White House event, Trump not only named Hassett but also emphasized that he is a "respected person." In the Washington context, such public endorsement is nearly a nomination preview. History shows that Trump complained multiple times about the Federal Reserve's interest rate hikes during his first term; now he chooses Hassett—a loyalist who once served as his economic advisor—to ensure the continuation of low-interest policies to support economic growth and stock market prosperity.

● Loyalty Over Experience: Although Hassett served as the chairman of Trump's Economic Advisory Council, he is not a traditional central bank elite. His advantage lies in his absolute loyalty and alignment with Trump's agenda. Sources reveal that Trump privately praised Hassett for "understanding money and politics," reflecting his distrust of the establishment. Choosing Hassett is a key step for Trump to break the "deep state" control over the financial system.

● Chain Reaction of Spoilers: Once this was said, the media rushed to dig into Hassett's background, and his Coinbase holdings were quickly exposed, further raising market expectations. The Trump team did not deny the related reports; instead, they released more details through channels, creating a media buildup. This "leak-validate-explode" model is a political strategy commonly used by Trump.

3. The Power Chessboard: The Merger of the Federal Reserve and Treasury, Balance of Power Disappears

Appointing Hassett is just a piece of the puzzle; the bigger change lies in the restructuring of Washington's economic power structure.

● Bessent's Dual Role: According to exclusive insider information, if Hassett takes the helm of the Federal Reserve, current Treasury Secretary Scott Bessent is likely to also serve as the director of the White House National Economic Council (NEC). Bessent is a close friend of Trump and a crypto-friendly figure, but he previously declined a position at the Federal Reserve, preferring to oversee the bigger picture. This arrangement means:

○ Treasury + NEC: Bessent will control both the "purse" (fiscal spending) and the "pen" (economic policy formulation), becoming an unprecedented "economic czar."

○ Federal Reserve Cooperation: Hassett will execute low-interest rates at the central bank, providing cheap funds for fiscal expansion.

● End of the Balance of Power: Since the mid-20th century, the independence of the Federal Reserve has been seen as a cornerstone for curbing inflation, often maintaining distance from White House policies. However, under this arrangement, the Treasury (spending money) and the Federal Reserve (printing money) will work in complete coordination, eliminating the internal checks and balances that have existed for decades. The speed of policy implementation will double, but inflation risks may also spiral out of control.

● Positive Outlook from a Crypto Perspective: For the crypto market, this unification means regulatory barriers will be cleared. Both Bessent and Hassett are crypto allies, and their combination will ensure that monetary policy and fiscal stimulus are more likely to flow into innovative areas, including blockchain and digital assets.

4. Shareholder Governance: Hassett's Coinbase Holdings and Interest Consistency

Hassett's personal financial disclosures add a dramatic flair to this upheaval.

● Naked Interest Connection: Public records show that Hassett holds a significant amount of Coinbase stock and has long served as an advisor to the company. This makes him the first Federal Reserve Chair candidate in U.S. history with direct financial ties to the crypto market. His family's assets are highly correlated with Bitcoin's performance, fundamentally changing the logic of policy-making:

○ No Need for Education: He does not need to learn "what blockchain is" like traditional officials; he personally benefits from the industry's growth.

○ Regulatory Stance: He has publicly criticized the SEC's excessive regulation, arguing that it stifles innovation. Once in office, he may push the Federal Reserve to adopt an open attitude towards stablecoins, CBDCs, and even resist harsh crackdowns.

● From Adversary to Backstage: The Federal Reserve has long taken a cautious stance towards crypto, viewing it as a threat to financial stability. However, Hassett's appointment could turn it into the industry's "strongest backstage supporter." For instance, in areas like bank access and liquidity provision, Federal Reserve policies may lean towards inclusivity, indirectly promoting the mainstreaming of the crypto market.

● Ethical Controversy: Wall Street elites have raised alarms, claiming this poses a conflict of interest. However, the Trump team believes this is precisely "breaking the old to establish the new"—having knowledgeable people manage the market is better than outsiders mismanaging it. Hassett's holdings have instead become a reassurance for crypto investors.

5. Timeline Revelation: Subtle Clues Indicate a Mature Plan

Looking back over the past few months, the rhythm of this power transition is remarkably clear.

● September Preparation: Bessent interviewed Federal Reserve candidates as the "examiner" and explicitly declined to take the position himself. This indicates that Trump had a plan all along, positioning Bessent in a more core role rather than being constrained by the central bank.

● November Rumors: Media began to report that Hassett was leading the pack, and Polymarket data showed initial fluctuations. At that time, the market was skeptical, but insiders claimed that Trump had privately settled on a candidate, just waiting for the right moment to announce.

● December Explosion: Trump publicly leaked information, and news of Bessent also serving as NEC came out, forming a logical closed loop. The timeline fits perfectly, indicating that this was not a spur-of-the-moment decision but a carefully designed strategy.

● Official Announcement Early Next Year: Trump has stated he will make a formal announcement "early next year." Political observers predict this could happen around the inauguration to maximize media impact. At that time, Senate hearings will become the focus, and Hassett's stock holdings will undoubtedly be questioned.

6. Outlook for the Macro Environment in 2026

If the Hassett-Bessent combination materializes, the U.S. economy in 2026 will face an unprecedented landscape.

● Extremely Accommodative Monetary Policy: As a loyalist to Trump, Hassett will work tirelessly to lower interest rates to stimulate growth. Combined with Trump's tax cuts and infrastructure plans, liquidity may flood the market again, increasing pressure on the dollar, while hard assets like gold and cryptocurrencies may become safe havens.

● Dramatically Increased Policy Execution: The Treasury and the Federal Reserve will no longer be at odds; economic stimulus plans will move from design to implementation at lightning speed. This is a short-term boon for the crypto market, but it may also create bubbles in the long run.

● Regulatory-Friendly Era: Under administrative pressure, agencies like the SEC may slow down lawsuits against crypto companies and shift towards framework building. Hassett's Federal Reserve may directly explore the integration of digital currencies, opening the door to compliance for the crypto ecosystem.

● Global Ripple Effect: A shift in U.S. policy will force other central banks to follow suit, extending the global low-interest-rate environment, and the crypto market, as an emerging asset class, will become even more attractive.

7. Wall Street's Warnings and Trump's Determination

The upheaval is not without resistance, as traditional financial elites are launching a final counterattack.

● Corporate Warnings: According to Fox Business, several Wall Street CEOs have sent private letters to Trump, stating that appointing Hassett would "destroy the credibility of the Federal Reserve" and trigger market turmoil. They are concerned that prioritizing loyalty over experience will weaken the central bank's ability to combat inflation.

● Media War Begins: The Wall Street Journal's editorial criticized this move as "politicizing the central bank," but Trump's camp retaliated, accusing the establishment of fearing change. This division is reflected in polls: ordinary investors are optimistic about the future of crypto, while traditional economists worry about losing control of order.

● Possible Reactions from Trump: History shows that Trump often ignores establishment warnings and forges ahead. Insiders say he views Hassett's appointment as a key battle to "drain the swamp," and he is willing to accept short-term market volatility. With Republicans holding a majority in the Senate, the likelihood of Hassett's confirmation is high.

8. The Division and Integration of Tradition and Innovation

Regardless of the final appointment, market consensus is already being reshaped.

● Anxiety in Traditional Finance: Banks and insurance companies are worried that the loss of Federal Reserve independence could lead to uncontrollable inflation and a crisis of trust in the dollar. They are beginning to hedge risks and increase holdings in non-dollar assets, which indirectly promotes crypto allocations.

● Dawn for the Crypto Market: The industry is shifting from "passive compliance" to "active co-governance." If Hassett takes office, companies like Coinbase may gain more policy advisory roles, leading to a deep integration of the crypto system with dollar finance, and even pushing Bitcoin to become a reserve asset option.

● Opportunities Amid Division: This macro division—traditional elites' concerns vs. emerging forces' euphoria—will create a new investment paradigm. Smart capital is already positioning itself: betting on crypto infrastructure, compliance services, and tech stocks benefiting from accommodative policies.

Trump's appointment of a "Coinbase shareholder" to take over the Federal Reserve is by no means an isolated event. It is the product of the collision of political power, economic interests, and technological waves, marking a new chapter in U.S. financial governance. The merger of the money printer and the Treasury, along with the collapse of the checks and balances, may bring a short-term growth frenzy, but it also sows the seeds of inflation and debt risks. For the crypto market, however, this represents a historic opportunity: the policy ceiling may be completely broken, and the industry is moving from the margins to the core, completing the final piece of the puzzle with the dollar system.

In the coming year, we will witness the final act of this upheaval—whether Hassett can secure the position of Federal Reserve Chair or not, capital has already voted with its feet, and the bell for a new era is ringing. What investors should do is not to speculate, but to understand: when shareholders start to manage the market, the rules have changed, and the only way forward is to go with the flow.

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