Bessent angrily confronts Trump: Powell must stay! The cryptocurrency market has started a doubling trend in three days, who dares to take the plunge?
Today, U.S. Treasury Secretary Bessent publicly stated: Powell has no reason to resign now! This shocking statement not only stabilizes the steering wheel of the Federal Reserve's policy but also stirs up a huge wave in the cryptocurrency market. Combined with the recently passed 'Genius Act' in the U.S. and the Trump administration's crazy layout regarding stablecoins, a 'policy feast' that could rewrite the landscape of the cryptocurrency world is unfolding!
1. Bessent firmly supports Powell, the continuity of Federal Reserve policy is a foregone conclusion.
According to reports from Yicai Global, Bessent clearly opposes Trump's intention to fire Powell, citing the core reason — the economy is performing well. This statement directly crushes market concerns about a 'sudden change in Federal Reserve policy' and further hints that Powell will continue to lead the direction of the Federal Reserve's monetary policy.
What does this mean for the cryptocurrency market?
Increased expectations for interest rate cuts: If the Federal Reserve cuts rates twice by the end of the year as expected, global liquidity will further loosen, and a low-interest-rate environment will push funds toward high-risk, high-return assets. Bitcoin's safe-haven property as 'digital gold' will be activated again. Stability of policy is beneficial: Powell's continued tenure avoids policy swings caused by personnel turbulence at the Federal Reserve, providing a more predictable regulatory environment for the cryptocurrency market, greatly boosting institutional confidence in entering the market.
2. The Trump administration's crazy layout, stablecoins become a new weapon for dollar hegemony.
At the same time as Bessent's statement, another heavyweight event in American politics exploded in the cryptocurrency circle — Trump signed the 'Genius Act', officially establishing a regulatory framework for stablecoins! The passage of this act is referred to by Wall Street as the starting point of dollar hegemony 2.0:
This means that the world's largest stablecoins, USDT and USDC, will completely become carriers of digital dollars, and the influence of the dollar will penetrate every corner of the globe through cryptocurrencies.
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