Trump Fires Fed Governor Lisa Cook, Appoints Bitcoin Ally
President Donald Trump has invoked a rarely used statutory clause to remove Fed Governor Lisa Cook, citing alleged mortgage fraud related to conflicting primary residence filings. Cook, a Biden appointee and the first Black woman on the Fed Board, is the first sitting Fed Governor removed by a president in modern history. Legal experts predict court challenges to her firing, which critics say undermines central bank independence and heightens regulatory risk. Cook had publicly supported a September interest rate cut, raising questions about political interference in monetary policy. Trump appointed Stephen Miran, chairman of the Council of Economic Advisers and a vocal Bitcoin advocate, as a temporary replacement pending Senate confirmation. Traders and analysts will watch how this shift affects Fed policy, market stability and the role of Bitcoin in future central bank discourse.
Bullish
Appointing Stephen Miran—a known Bitcoin advocate—to the Fed Board suggests a potential shift toward more crypto-friendly policy at the nation’s central bank. Historical precedents show that when high-profile officials express support for cryptocurrencies, digital-asset markets often rally on heightened institutional confidence. While Trump’s firing of Lisa Cook raises broader concerns about Fed independence and market volatility, the specific nod to Bitcoin is likely to boost short-term trader optimism. Over the longer term, improved dialogue between the Federal Reserve and crypto proponents could drive greater adoption and stability in the Bitcoin market, reinforcing a bullish outlook.