"Trump vs Powell: A Political Clash Shaking the Cryptocurrency Market and Threatening Financial Stability"
The escalating conflict between U.S. President Donald Trump and Federal Reserve Chairman Jerome Powell has led to turmoil in the cryptocurrency market. In April 2025, Trump intensified his pressure on Powell, threatening to fire him for refusing to lower interest rates, which many viewed as a serious political intervention in the independence of monetary policy.
This tension resulted in sharp fluctuations in the digital asset market, with Bitcoin (BTC) losing a percentage of its value amid fears of waning investor confidence. Other popular currencies such as Ethereum (ETH) and Binance Coin (BNB), all listed on the Binance platform, were also affected by this political turmoil.
Widespread criticism was directed at Trump for his attempts to exert influence over the Fed's decisions, which is considered a undermining of its independence as a monetary institution. Such political intervention could destabilize the markets and weaken confidence in the neutrality of monetary policy.
