- Fed Chair Jerome Powell hinted that U.S. banking regulators might ease crypto-related restrictions to support innovation.
- Coinbase’s Base faced backlash after promoting a token that crashed 95%, raising concerns over poor communication.
- JPMorgan said Bitcoin is losing its “digital gold” status as investors flock to gold ETFs instead.
Fed boss Jerome Powell dropped a few interesting tidbits in Chicago yesterday. Basically, he said banking regulators might finally chill a bit on crypto restrictions.
“We were probably a little too tight on the rules early on,” Powell admitted, saying there’s room now for some loosening. But, of course, he made sure to mention that any changes still need to keep consumers safe and the financial system solid. Classic Powell.
He also gave a thumbs-up to Congress’s push for stablecoin regulation, calling it “a good idea” and stressing the need for transparency and typical protections. Under Trump, agencies like the OCC and FDIC are already moving to roll back some of the old crypto clampdowns—so Powell’s comments are definitely in line with that.
Meanwhile, President Trump isn’t exactly giving Powell a break. He lit into him again on Truth Social, saying the Fed chair should’ve cut rates a long time ago and… well, that his “termination cannot come fast enough.”
