PANews reported on August 8th that The Block has announced that US President Trump has nominated pro-cryptocurrency economist Stephen Miran to serve on the Federal Reserve Board of Governors. Miran, currently chair of the Council of Economic Advisors, has proposed streamlining cryptocurrency regulation. The board seat was previously held by Adriana Kugler, who announced her resignation last week. Miran will fill the vacancy and serve until January 31, 2026. Miran, a former senior strategist at the investment firm Hudson Bay, has also worked at the US Treasury and Fidelity Investments. It's worth noting that Trump has publicly clashed with Federal Reserve Chairman Powell over interest rates in recent weeks, and Miran has criticized Powell.


Market participants are eagerly anticipating at least a 25 basis point (BPS) interest rate cut from the Federal Reserve on Wednesday. The Federal Reserve, the central bank of the United States, is expected to begin slashing interest rates on Wednesday, with analysts expecting a 25 basis point (BPS) cut and a boost to risk asset prices in the long term.Crypto prices are strongly correlated with liquidity cycles, Coin Bureau founder and market analyst Nic Puckrin said. However, while lower interest rates tend to raise asset prices long-term, Puckrin warned of a short-term price correction. “The main risk is that the move is already priced in, Puckrin said, adding, “hope is high and there’s a big chance of a ‘sell the news’ pullback. When that happens, speculative corners, memecoins in particular, are most vulnerable.”Read more
