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Donald Trump’s team is intent on consolidating or even eliminating some long-standing banking watchdogs, WSJ reports, while Wall Street Pepe ($WEPE) fans cheer.
Trump’s incoming US presidency has signaled a promising forecast for cryptocurrency regulations in the US.
Now, his newly formed Department of Government Efficiency (DOGE), championed by Trump’s right-hand man and Meme Overlord Elon Musk, is finding out if a president could, for example, abolish the Federal Deposit Insurance Corporation (FDIC), a source told The Wall Street Journal.
In true rebellious fashion, Trump and his team of crypto investors are giving off strong Wall Street Pepe vibes with these sweeping moves and audits. The Wall Street Pepe meme coin ostensibly exists to drain the crypto swamp of the legacy whales, and make room for the regular frogs.
Elon Keen to Hit Delete & Liberate Crypto Markets
Musk recently posted on X “Delete CFPB. There are too many duplicative regulatory agencies,” CFPB is the Consumer Financial Protection Bureau (CFPB). It was created in response to the 2008 global financial crisis believed to have been caused, in part, by a lack of regulatory oversight.
Combining or overhauling other regulators like the OCC and the Federal Reserve is also not off the table. It’s up to the Republican-majority Congress to decide whether the FDIC or any other agency gets canned. But these are real possibilities, as the incoming administration has promised to pass more crypto-friendly policies in the US.
And, it’s become a matter of priority in light of recent bullish trends in the crypto market. Eric Trump, for example, urged that a set of “sensible” regulatory guidelines are in order to clear the path for the US to become the leading global hub for crypto.
Trump is also set to appoint a successor to the retiring-in-protest FDIC Chair Martin Gruenberg, who’s been accused of being the “architect of Operation Chokepoint 2.0,” an alleged Biden administration scheme to sever the crypto industry from the banks.
The new direction taken by Trump’s team towards the banking sector is just one part of his larger promise to cut government spending and regulations. But for anyone in the crypto market looking to make some gains, DOGE couldn’t have come at a better time.
Taken together with his meme coin allocation, analysts are keen to say Trump and his team are channeling real some $WEPE vibes, and DOGE drains banking swamp is one of the labels that’s catching on as a great description. His tendencies for deregulation rings true of his narrative to clean house, just like Wall Street Pepe wants to do – drain the crypto swamp and make room for the little frogs … so to speak.
Frog Street Takeover
“WEPE was tired of seeing legacy whales and corrupt KOLs manipulating the little guys, always bloating their wallets. So, he decided to catch them out and flip the script…” reads the $WEPE website, echoing what the Trump team appears to be doing.
We wouldn’t be that surprised to see some $WEPE pop up in Trump’s portfolio on Arkham, His holdings reflect quite an eclectic mix, blending mainstream cryptocurrencies with meme coins like MAGA (TRUMP), TROG and FIGHT.
More and more lesser-known meme coins are catching mainstream attention, with Blockchain analytics provider Chainalysis now even tracking Solana memecoins created on Pump.fun, a company representative said.
What makes $WEPE one to watch is its numbers right now. Just yesterday, it saw $5.5M+ raised in 24 hours. It currently holds a market cap of almost $40M with the price only going up every day. Presales have hit $13.5M with 5.2B tokens already bought and locked up. Future annual yields are currently estimated to be just over 67%.
Rich, Every Time
With just 3 days of the presale to go, the best time to get in for those looking to maximize their gains is definitely yesterday, with the second best being now. And as Trump and Elon clear the way for banking deregulation, your winnings are your business, and you can tell the banks to kiss your a$$!
Disclaimer: This is not financial advice. Remember to always DYOR (do you own research) before buying any crypto and to never use funds you can’t afford to lose.
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