The Fed stirs up trouble, Trump steps in to cause a ruckus, and the crypto world suffers.Trump finally took action against the Fed.
The interest rate cut has caused public anxiety, and Trump has finally lost his temper and directed his anger at the Fed. On the evening of August 25, Trump announced that he had dismissed Fed Governor Lisa Cook for allegedly being involved in "mortgage fraud." This is the first time in the 111-year history of the Fed that a president has dismissed a governor. In response to the accusation, Cook firmly stated that she would file a lawsuit regarding her dismissal. The battle between the president and the Fed is about to erupt.
In the face of this once-in-a-century great turmoil, the crypto market has suffered. Just yesterday, BTC briefly fell below $109,000, hitting a low of $108,600, a drop of 12.7% compared to recent highs. Ethereum, after refreshing its high at $4,954, plummeted to $4,311. According to Coinglass data, as of yesterday noon, over $935 million in total liquidations occurred within 24 hours.
GateUser-6bbdc2fc·2025-08-28 09:01