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The Possibility of a Fed Chair Bringing a Wild Bull Run
In the prediction market Polymarket, the probability of Hassett being elected as the new Federal Reserve Chair has risen to 86%, far ahead of other possible candidates for the position.
As expected, Kevin Hassett will most likely be the next Federal Reserve Chair, Trump's favorite.
The actions of the Federal Reserve have always been a key factor impacting the cryptocurrency market. So, if Hassett eventually becomes the new Federal Reserve Chair as expected by the market, what kind of impact can be expected on the market?
Accelerated Interest Rate Cuts
In late November, Hassett mentioned that pausing interest rate cuts at that time would be "a very bad time" because the government shutdown had already dragged down fourth-quarter economic growth. He projected that the government shutdown would cause a 1.5 percentage point decline in fourth-quarter Gross Domestic Product (GDP). Additionally, he noted that the September Consumer Price Index (CPI) showed better-than-expected inflation performance.
Earlier on November 13, Hassett stated that he expected a 1.5% GDP decline in the fourth quarter due to the government shutdown. He couldn't see many reasons not to cut interest rates.
Therefore, if Hassett becomes the new Federal Reserve Chair, it is expected that he will advocate for faster rate cuts, potentially lowering the federal funds rate to below 3%, even approaching 1%, to stimulate economic growth and employment.
This is also what Trump wants to see.
Resuming QE (Quantitative Easing)
On December 1, the Federal Reserve officially ended its Quantitative Tightening (QT) policy, marking the end of the balance sheet reduction process that began in 2022. Although some believe that the effects may not be seen until early next year, the expectation of loose liquidity is gradually materializing.
Hassett may be more tolerant of inflation, seeing the 2% inflation target as a flexible upper limit rather than a strict anchor. The focus would be on employment and GDP growth, reducing the "gradual" decision-making based on data and shifting to a more proactive pro-growth intervention.
In September of this year, during an interview with Fox Business, Hassett stated that the U.S. is experiencing a supply-side boom, in an economy without real inflation, the current rates are hindering economic growth and job creation. He also mentioned that the U.S. is expected to achieve 4% GDP growth.
The viewpoint prioritizing economic growth over inflation control, making it expected for the Federal Reserve under Powell's leadership to restart QE.
Impact on Bitcoin
Every Federal Reserve Chair candidate, whether they directly address the crypto topic or not, will have a structural impact on the cryptocurrency industry. Powell has more than just a passing association with the industry – openly holding Coinbase stock worth millions and serving on Coinbase's advisory board.
Moreover, he participated in an internal White House working group on digital asset policy, pushing for regulatory frameworks that leave room for innovation and seeing crypto tech as a significant variable shaping future economic structures. He once stated that Bitcoin would "rewrite financial rules."
Powell's crypto background could reduce regulatory uncertainty, drive institutional adoption, and lead the Fed to explore crypto integration. This could enhance Bitcoin's legitimacy and liquidity, potentially propelling prices to new highs.
Many traders are bullish on the market post-Powell's appointment, believing that the bull market will start then, expecting this to happen by mid-next year, making the latter half of '26 a focal point for the crypto industry.
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Mixin has launched USTD-margined perpetual contracts, bringing derivative trading into the chat scene.
The privacy-focused crypto wallet Mixin announced today the launch of its U-based perpetual contract (a derivative priced in USDT). Unlike traditional exchanges, Mixin has taken a new approach by "liberating" derivative trading from isolated matching engines and embedding it into the instant messaging environment.
Users can directly open positions within the app with leverage of up to 200x, while sharing positions, discussing strategies, and copy trading within private communities. Trading, social interaction, and asset management are integrated into the same interface.
Based on its non-custodial architecture, Mixin has eliminated friction from the traditional onboarding process, allowing users to participate in perpetual contract trading without identity verification.
The trading process has been streamlined into five steps:
· Choose the trading asset
· Select long or short
· Input position size and leverage
· Confirm order details
· Confirm and open the position
The interface provides real-time visualization of price, position, and profit and loss (PnL), allowing users to complete trades without switching between multiple modules.
Mixin has directly integrated social features into the derivative trading environment. Users can create private trading communities and interact around real-time positions:
· End-to-end encrypted private groups supporting up to 1024 members
· End-to-end encrypted voice communication
· One-click position sharing
· One-click trade copying
On the execution side, Mixin aggregates liquidity from multiple sources and accesses decentralized protocol and external market liquidity through a unified trading interface.
By combining social interaction with trade execution, Mixin enables users to collaborate, share, and execute trading strategies instantly within the same environment.
Mixin has also introduced a referral incentive system based on trading behavior:
· Users can join with an invite code
· Up to 60% of trading fees as referral rewards
· Incentive mechanism designed for long-term, sustainable earnings
This model aims to drive user-driven network expansion and organic growth.
Mixin's derivative transactions are built on top of its existing self-custody wallet infrastructure, with core features including:
· Separation of transaction account and asset storage
· User full control over assets
· Platform does not custody user funds
· Built-in privacy mechanisms to reduce data exposure
The system aims to strike a balance between transaction efficiency, asset security, and privacy protection.
Against the background of perpetual contracts becoming a mainstream trading tool, Mixin is exploring a different development direction by lowering barriers, enhancing social and privacy attributes.
The platform does not only view transactions as execution actions but positions them as a networked activity: transactions have social attributes, strategies can be shared, and relationships between individuals also become part of the financial system.
Mixin's design is based on a user-initiated, user-controlled model. The platform neither custodies assets nor executes transactions on behalf of users.
This model aligns with a statement issued by the U.S. Securities and Exchange Commission (SEC) on April 13, 2026, titled "Staff Statement on Whether Partial User Interface Used in Preparing Cryptocurrency Securities Transactions May Require Broker-Dealer Registration."
The statement indicates that, under the premise where transactions are entirely initiated and controlled by users, non-custodial service providers that offer neutral interfaces may not need to register as broker-dealers or exchanges.
Mixin is a decentralized, self-custodial privacy wallet designed to provide secure and efficient digital asset management services.
Its core capabilities include:
· Aggregation: integrating multi-chain assets and routing between different transaction paths to simplify user operations
· High liquidity access: connecting to various liquidity sources, including decentralized protocols and external markets
· Decentralization: achieving full user control over assets without relying on custodial intermediaries
· Privacy protection: safeguarding assets and data through MPC, CryptoNote, and end-to-end encrypted communication
Mixin has been in operation for over 8 years, supporting over 40 blockchains and more than 10,000 assets, with a global user base exceeding 10 million and an on-chain self-custodied asset scale of over $1 billion.
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