Trump's "embrace of crypto" is reshaping the US stock market structure, but high volatility risks are spreading to the traditional stock market

According to Odaily, as U.S. President Trump openly embraces cryptocurrency, his policies and personal statements are profoundly reshaping the structure of the U.S. capital markets. A large number of new publicly listed companies centered on crypto assets are rapidly emerging, while market risks are also being amplified. Unlike previous crypto bull markets that were mainly limited to exchanges and retail investors, under Trump’s policy push, crypto risks are spreading to a broader range of investors through the stock market. The withdrawal of tightened regulation, the strengthening of political endorsement, and the structural “cryptofication” of listed companies are prompting investors to take on higher volatility and valuation risks. This year, more than 250 listed companies have begun to include cryptocurrencies in their balance sheets, attracting investor attention by accumulating large amounts of bitcoin and other digital assets. Some companies even lack mature core businesses, with their main “business model” being the holding of crypto assets and betting on their price appreciation. (The New York Times)