Federal Reserve Governor Christopher Waller has indicated that the cryptocurrency market frenzy, initially fueled by the Trump administration, is waning. Speaking at the Center for Global Interdependence conference in La Jolla, California, Waller attributed the recent market sell-off to regulatory uncertainty and risk management practices by major financial institutions. He noted that volatility is a normal aspect of the crypto market, and many institutions transitioning from mainstream finance to cryptocurrencies have sold off their holdings to adjust their risk positions.