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. E

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Author: Kristi Hansen