The US House of Representatives had to vote on the release of the Epstein files first, they did so by a 427-1 margin, in favour of the release. Next it was to be voted on by the Senate. A lot of people thought it might take some time for the Senate to get to look at it, or that the Senate might not vote in favour, but just less than a day later the Senate voted unanimously to release the files.
So what comes next is the President's signature, and once he signs it, the Justice Department has to release the files within 30 days:
The president has already said he is going to sign it, so anytime now it should be signed, except he makes a U-turn, which you never know with Trump. But if he refuses to sign with the kind of majority in the House and Senate in favour of the release it wouldn't be a problem at all. The Senate and House can still authorize the release and the DOJ would have to release it.
Now the only thing that can stop the full effect of the release is if the complete files are not released, maybe some hidden or omitted, or something, to protect certain people especially Trump. Because I wonder why Trump and everyone else would go through the trouble of hiding these files only to cave in now and release them. If it was worth all the trouble to hide all this while then it is certainly worth some foul play like omitting some of the files to protect certain people. Wouldn't surprise anyone at all.
So What Effect Could it Have on Crypto?
If the complete files are released, chances are it would implicate Trump beyond repair. Chances are it would be the kind of stuff Trump would have to resign about, or be impeached and removed about. So Trump might be out soon. Except that we know Trump is the kind of guy to not give up easily so he might fight, and he just might win, you never know.
If the files don't implicate Trump to that extent, which is also a possibility, then tit would hardly have any effect on crypto. But Trump being implicated "bigly" leading to his being kicked out the job would definitely have an effect on crypto.
But what kind of effect? Trump was loved by crypto and seen as the pro-crypto President, but is that still the case? After all the tariff drama, Trump and Melania meme coins, unfulfilled crypto promises, failed Altseason (so far), is Trump still viewed as the pro-crypto guy? Definitely not as much as he was viewed before, but how much exactly is not certain.
But, so far, the major driver of bad days in the market has been Trump's tariffs and not really anything else, so Trump gone means tariffs gone, and this is supposed to be bullish for the markets. So, this is the expected effect of the Epstein Files, but take note of all the ifs.
According to US law, though, the Vice President JD Vance is supposed to take over and we don't know much about his crypto or tariff views because we don't know if he's saying what he really thinks as he's under Trump. But hardly anyone is interested in tariffs like Trump, so the chances are the tariffs would be gone too under Vance. Furthermore tariffs are so unpopular and Vance would be looking to maintain good popularity because he would need it for the polls. Trump has not had to care about the polls this term.
And Vance's crypto views can't be worse than under Biden, and the markets were okay under Biden, only Gary Gensler really caused some upheavals. It just seems as far as the tariffs are gone everything would be bullish.
The End
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