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Zeldin described the announcement in March as the “greatest and most consequential day of deregulation in U.S. history.”

Tax cuts for the rich and deregulation for corporations made Musk’s avaricious ascent possible.

But his second administration's embrace of crypto, and its shift toward deregulation, comes as the number of scams is set to increase.

“Looking ahead, the new administration is in the process of implementing significant policy changes in four distinct areas: trade, immigration, fiscal policy and deregulation,” Powell said.

And one less flashy part of his federal government overhaul — banking deregulation — is worth paying attention to.