Fed Chair Powell Alleges Trump Prosecution Over Rate-Cut Resistance; A16z Raises $15B as Crypto Markets Flatline
Federal Reserve Chair Jerome Powell released a video message this week alleging that the criminal charges he faces stem from his refusal to cut interest rates in alignment with President Trump's demands—a claim that escalates already heightened tensions between the White House and the independent central bank. The statement marks an unusually direct confrontation from a sitting Fed chair, raising fresh scrutiny over the independence of U.S. monetary policy amid ongoing political pressure.
The broader crypto market showed limited reaction to the developments, with majors largely flat heading into Monday's open. Bitcoin held steady at $90,600, while Ethereum gained 1% to trade at $3,110 and Solana rose 2% to $140. XRP dipped 2% to $2.04. Monero surged 15% to a new all-time high of $590, leading top performers alongside an unnamed token that jumped 20%. Meanwhile, Andreessen Horowitz announced the close of a $15 billion fund dedicated to "American Dynamism," with artificial intelligence and cryptocurrency positioned as core investment themes. VanEck published a long-term projection estimating Bitcoin could reach $53 million by 2050, citing assumptions around adoption, trade settlement, and store-of-value demand driving 29% annual growth.
On the regulatory and institutional front, Ripple secured approval from the U.K. Financial Conduct Authority to expand crypto payment services in the country. BNY Mellon launched tokenized deposits tailored for institutional and digital-native clients. X (formerly Twitter) unveiled plans for "smart cashtags" designed to display live crypto and stock prices alongside ticker symbols. Separately, a new House bill would prohibit lawmakers and federal officials from participating in prediction markets. Tether froze $182 million in USDT connected to undisclosed activity. The constellation of developments underscores intensifying convergence between traditional finance, digital assets, and political authority.