The common assumption is that 2026 will be a technology story. That’s a mistake. The next phase of crypto won’t be decided by AI or faster blockchains nor new features. It will be shaped by policy, where rules decide: > who can participate, > how money moves, > and how much risk large institutions can take. These rules were set in 2025, but their impact builds over time. 2026 is the first full year crypto operates under this new framework. Under Trump’s second term, three policy shifts stand out. Not because they sound bullish, but because they quietly change crypto's liquidity, collateral use, and risk appetite. ------ 1) Clear stablecoin rules unlock liquidity The biggest shift is the creation of clear federal rules for stablecoins. In Q2, the U.S. passed the GENIUS Act, which requires stablecoins to be fully backed, properly custodied, and federally overseen. Stablecoins aren’t investments. They’re digital dollars used to move money. Once they’re regulated: > banks can hold and move them safely, > exchanges can grow dollar markets without legal risk, > institutions can treat onchain dollars like normal cash. Money flows when rules are clear, not when returns look exciting. This removed a major barrier to dollars moving onchain. 2) Letting crypto be used as collateral brings institutions in The second shift is allowing crypto to be used as collateral in regulated markets. In Q4, regulators approved pilot programs letting Bitcoin, Ethereum, and some stablecoins back trades in regulated derivatives systems. Big money doesn’t enter markets just to buy and hold. It enters when capital can be used efficiently. Once crypto can be used as collateral: > trading firms deploy more size without locking up cash, > advanced strategies scale, > derivatives markets grow faster than spot markets. This is how crypto starts behaving like a financial tool, not just a speculative asset. 3) Trade policy and geopolitics shape risk-taking Trump’s trade and foreign-policy posture in Q3–Q4 2025 influenced macro conditions that matter for crypto indirectly but materially. Tariffs and negotiations affect inflation and uncertainty. High uncertainty reduces risk-taking; calmer conditions encourage it. By late 2025: > U.S. inflation was around 2.6–2.7%, > market volatility stayed low, with the VIX in the low-to-mid teens. At the same time, calmer geopolitical signals reduced fear of sudden shocks. Markets react to perception before reality. When conditions feel stable, money moves into risk assets. Crypto benefits not because it’s safe, but because it’s liquid and easy to access. ------- ● The Policy Stack Behind 2026 These aren’t crypto-specific decisions, but they shape crypto outcomes. ✅ Stablecoin rules legitimize onchain dollars ✅ Collateral pilots legitimize crypto balance sheets ✅ Trade and macro policy shape how much risk investors take Together, they lower friction. Capital flows where it’s easiest to move. 2026 will reward the assets that fit cleanly into this rebuilt system. ● The real question If these trends continue, where does value show up in 2026? > Bitcoin as a widely accepted collateral asset > Ethereum as the main settlement layer > Stablecoins as the backbone of volume and adoption There’s no consensus. That uncertainty is the opportunity.

Tagging some based DeFi chads to drop some hindsight @Eli5defi @Mars_DeFi @crypto_linn @arndxt_xo @TheDeFiKenshin @Hercules_Defi @cryptorinweb3 @_SmokinTed @St1t3h @thelearningpill @Nick_Researcher @Rightsideonly @0xCheeezzyyyy @yashasedu @monosarin @Defi_Warhol @Haylesdefi @twindoges @0xfreestyler