Bitcoin24h $122,664.28-1.85%

Ethereum24h $4,484.28-5.56%

BNB24h $1,306.39-1.11%

XRP24h $2.87-3.85%

Solana24h $222.08-4.00%

Dogecoin24h $0.2517-4.78%

TRON24h $0.3378-2.14%

Cardano24h $0.8224-5.52%

Hyperliquid24h $45.97-0.99%

Chainlink24h $22.10-3.89%

Jerome Powell defies Trump, keeps crypto restrictions at Fed

Federal Reserve Chairman Jerome Powell has reduced US banking restrictions on crypto activities, but critics say he hasn’t done enough.

Jerome Powell has been good for bitcoin, and Trump says he won’t fire him

Yesterday afternoon, BTC rallied $2,400 in 15 minutes on the news that Donald Trump wouldn’t fire US Federal Reserve Chairman Jerome Powell.

The Federal Reserve found that Evolve engaged in unsafe and unsound banking practices surrounding some of its fintech partnerships.

The Fed’s decision on Wednesday is likely to dash hopes of a pivot from interest rate hikes, which has partly driven bitcoin’s 2023 rally.