Fed Vice Chair Waller: Crypto Mania Following Trump May Be Ebbing, Amid Regulatory and Risk Management Pressures

Fed Vice Chair Christopher Waller warned that the optimism for cryptocurrencies sparked by President Trump’s election in early 2024 is beginning to ebb as selling pressure builds. At a Global Interdependence Center event on February 9, 2026, he said: “Some of that enthusiasm is gradually fading.” He noted the sector’s inherent volatility and that sharp corrections are not unusual. Recent declines reflect regulatory uncertainty and risk management actions by traditional financial institutions. Bitcoin has plunged over 40% from its October 2023 high, reaching a 2024 low of about $60,000 and the largest volatility spike since FTX’s collapse. The sell-off is weighing on crypto-related stocks: BlackRock (MSTR-US) down 13.4%, Coinbase (COIN-US) down 31%, and Marathon Digital Holdings (MARA-US) down 20.8%. Waller’s remarks underscore growing intersection with broader finance, as institutional investors increasingly hold digital assets.