Overview
- Federal prosecutors served grand jury subpoenas linked to Jerome Powell’s June 2025 testimony about a multi‑billion‑dollar Federal Reserve renovation, and he publicly confirmed a criminal investigation is underway.
- Powell said the action reflects pressure to steer monetary policy toward the president’s preferences and stated he will continue serving; his chair term runs through May 2026 with a board seat available until 2028.
- Bitcoin jumped into the $91,000–$92,000 range with an intraday high near $92,400 before sliding toward roughly $90,500 as volatility spiked and reported trading volumes surged.
- Traditional markets showed stress, with U.S. stock futures weakening and safe‑haven assets such as gold and silver rallying to record levels, according to market reporting.
- Crypto analysts framed the episode as strengthening Bitcoin’s case as a neutral monetary asset, while warning that legal and policy uncertainty could fuel further price swings into upcoming Fed decision dates.