Crypto Investors Watch Closely as Kevin Hassett Becomes Frontrunner to Replace Jerome Powell

U.S. Bancorp has entered the stablecoin market by launching a pilot program on the Stellar blockchain, marking a pivotal moment as major financial institutions begin to utilize public blockchains for real-world transactions. This initiative aims to enhance transaction efficiency and security, aligning with the bank's digital asset strategy.

Bitcoin has recently experienced a price recovery, rising from a low of $80,000 to approximately $87,000, which has led to discussions among traders about whether this rebound signifies a genuine market recovery or merely a temporary 'dead cat bounce.' Analyst Peter Anthony argues that the prevailing bearish sentiment may be misleading, suggesting that this recovery could set the stage for a more substantial rally.

Cardano (ADA) is experiencing a challenging market phase, with its price around $0.41, reflecting a 70% decline from its December 2024 peak. Despite this, there is growing optimism ahead of the anticipated Midnight launch in December, which could signal a potential recovery for the blockchain.

House Democrats have released a report detailing President Donald Trump's connections to cryptocurrency businesses, which allegedly contributed to significant wealth for his family, framing this as part of a 'new age of corruption.' The report raises concerns about the ethical implications of Trump's financial dealings in the crypto sector.

Kevin Hassett, a prominent economic adviser to former President Trump, is reportedly a leading candidate to succeed Jerome Powell as chair of the Federal Reserve, according to recent reports. This potential appointment underscores Hassett's influence within the Trump administration and his alignment with pro-cryptocurrency policies.

Kevin Hassett, a key advisor to former President Trump and a member of the president's crypto working group, has emerged as a leading candidate to chair the Federal Reserve, according to a Bloomberg report. This potential appointment highlights the intersection of cryptocurrency advocacy and traditional financial governance.

Victims of the October 7 attacks in Israel have filed a federal lawsuit against Binance and its founder, Changpeng Zhao, alleging that the cryptocurrency exchange facilitated over $1 billion in transactions for Hamas and other militant groups. The complaint includes 306 American plaintiffs who claim damages for being killed, injured, or taken hostage during the attacks.

XRP's price has shown signs of recovery after falling below $2 due to market volatility. Analysts, including Egrag Crypto, have identified a bullish signal in the form of a cross between key Exponential Moving Averages (EMA), suggesting a potential trend reversal and price surge for the cryptocurrency.