Fed’s Waller Says Trump-Induced Crypto Euphoria May Be Fading

Federal Reserve Governor Christopher Waller said initial optimism that lifted crypto markets after President Donald Trump was elected may now be fading amid a selloff that has rattled the asset class.

“Some of the euphoria that came into the crypto world with the current administration, some of that’s kind of fading,” Waller said Monday in La Jolla, California, during a conference hosted by the Global Interdependence Center.

The Fed governor said ups and downs are common in the crypto market, and recent volatility could be driven by regulatory uncertainty and risk-management moves by larger financial firms.