Trump's close-knit team has recently been pushing a major candidate—Waller is expected to succeed as Federal Reserve Chair. According to market data, his chances of being elected have already surpassed another contender, Haskett.

What does this imply? Deutsche Bank analysts pointed out that if Waller indeed takes office, he might push forward both interest rate cuts and balance sheet reduction simultaneously. But there is a prerequisite—financial regulatory reform must be in place, especially lowering bank reserve requirements.

Waller's own policy stance is very clear: he believes inflation is manageable and advocates for the central bank to return to its core functions. More importantly, he is optimistic about the economic growth potential brought by AI technology and deregulation. His background is also quite impressive—spanning academic research, financial regulation, and investment practice, making him a significant influence in the industry.

For the crypto market, signals of deregulation alone are enough to attract attention. Expectations of rate cuts combined with regulatory boundary adjustments could redefine market liquidity and the allocation logic of risk assets. The upcoming developments are worth continuous monitoring.