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Fed Governor Lisa Cook announces lawsuit against President Trump over her removal from the Fed Board Attorney Abbe Lowell stated: “President Trump has absolutely no authority to remove Federal Reserve Governor Lisa Cook. His attempt to dismiss her based solely on a complaint letter is baseless both legally and factually. We will be filing a lawsuit to challenge this unlawful action.” #Fed $TRUMP
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Trump company raises $6.42B to establish $CRO treasury Trump Media (DJT) has partnered with Yorkville Acquisition (YORK) and Crypto.com to launch Trump Media Group CRO Strategy, a crypto treasury company that will hold the native token of the Cronos chain, $CRO. Under the agreement, the new company will be jointly owned by all three parties. The planned capital structure includes: - $1B worth of $CRO, representing ~19% of CRO’s current market cap - $200M in cash + $220M in mandatory purchase rights - $5B in equity credit facility from Yorkville’s investment fund The founding parties have committed to a minimum 1-year lock-up, followed by gradual unlocks over the next 3 years. $CRO surged ~30% following the news. $TRUMP
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$PROVE rớt xuống dưới mốc 1 đô sau khi thị trường điều chỉnh mạnh Một số update thú vị sau AMA của @Succinct và Bankless + Chi phí xác thực txn trên Ethereum sau update Fusaka dự kiến rơi vào khoảng 100 triệu đô 1 năm, Prover trên Succinct sẽ nhận được ít nhất 10% trong số đó (10 triệu đô mỗi năm) + Nhu cầu xác thực dữ liệu sẽ tăng trưởng ít nhất 10 lần hiện tại, mục tiêu mở rộng sang cả thị trường truyền thống (xác thực ID, email,..) => Dù vậy thì kể từ sau TGE, Succinct đã không có nhiều update mới dành cho cộng đồng. Số lượng $PROVE được stake đã chững lại sau 7 ngày. Hiện đạt mốc 10 triệu $PROVE được stake trên mạng lưới + Vẫn còn gần 30 triệu token Prove chưa được claim từ airdrop. Phần này dự kiến sẽ được đưa vào quỹ phát triển của dự án
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Is the Fed’s independence shakier than ever? President Trump’s campaign of pressure on the Fed since the beginning of the year: - Repeatedly calling for rate cuts and mentioning over 10 times the possibility of “firing Fed Chair Powell.” - Treasury Secretary Bessent actively seeking and interviewing potential candidates to replace Powell. - Fed Governor Kugler unexpectedly resigned without explanation. - Appointed Stephen Miran as Fed Governor to replace Kugler. - Considered suing Powell over the renovation project of the Fed headquarters in Washington after personally visiting the site. - Most recently, dismissed Fed Governor Cook over alleged mortgage fraud, an unprecedented move. How is President Trump attempting to seize control of an institution designed to be independent? The key lies in the Fed’s rate-setting body, the Federal Open Market Committee (FOMC), which has 19 members, with 12 voting on U.S. interest rates: - 7 votes from the Board of Governors in Washington - 5 votes from regional Fed Presidents (rotating among 12 Fed branches, with the New York Fed always holding a vote) Of the 7 Board seats, 2 are currently filled by Trump appointees, Christopher Waller and Michelle Bowman. Both supported rate cuts starting in July, marking the first time in 30 years that two Board members dissented from the majority. If Governor Miran is officially confirmed by the Senate and Trump succeeds in removing Cook, he would secure a 4-3 majority on the Board. The challenge remains with the regional Fed Presidents voting this year. Collins (Boston Fed) and Goolsbee (Chicago Fed) have already signaled openness to cutting rates as soon as September. Meanwhile, Williams (New York Fed), Musalem (St. Louis Fed), and Schmid (Kansas City Fed) have expressed caution, insisting more data is needed before cutting. Trump would only need to persuade at least one of them to reach 7 out of 12 votes. At the same time, his administration is aggressively considering 11 candidates to replace Powell when his term ends in mid-2026. #FEDvsTrump $BTC
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Lisa Cook’s lawyer: Will block President Trump’s “illegal” actions Attorney Abbe Lowell argued that President Trump’s move was flawed and lacked any due process, basis, or legal grounds. Lowell stressed that every necessary measure will be taken to prevent Trump from carrying out these unlawful actions. Lisa Cook also officially spoke out: “There is no reason for me to be dismissed, and I will certainly not resign. I will continue fulfilling my duties at the Fed.” $BTC
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