The Trump administration is considering an initial public offering (IPO) for Fannie Mae and Freddie Mac, potentially valuing the government-controlled mortgage finance companies at $500 billion or more. This move aims to transition the firms from full federal control, with discussions including a possible merger of the two entities into a single publicly traded company under the ticker symbol "MAGA." While the government guarantee on mortgage-backed securities is expected to remain in place for now, Pimco has warned that the IPO could disrupt the mortgage-backed securities market and lead to higher mortgage rates. Critics also caution that merging Fannie Mae and Freddie Mac could create a monopoly in the U.S. mortgage market, posing risks that may exceed those seen before the 2008 financial crisis. The Federal Housing Finance Agency (FHFA) has directed both companies to explore the use of cryptocurrency as assets without converting them to dollars. The details of how shares will be valued and whether the companies will remain under conservatorship remain unclear.