Lisa Cook has been removed from her position on the U.S. Federal Reserve (Fed) Board, leading to increased expectations for interest rate cuts, causing a surge in virtual assets. The rise of altcoins, such as Ethereum and Ripple, has been particularly notable.
As of 8 a.m. on the 27th, Bitcoin is recorded at $111,828, up 1.41% from 24 hours earlier, according to global coin market monitoring site CoinMarketCap.
Ethereum, the second largest by market capitalization, is trading at $4,591, up 4.43%. Ripple has risen 5.17% to $3.01, and Solana is at $196, reflecting a 4.72% increase.
The previous day, U.S. President Donald Trump released a letter informing Cook of her dismissal via his social media platform, Truth Social. Cook is assessed as a cautious hawk regarding interest rate cuts.
He claimed that Cook's mortgage related to a dwelling received in 2021 was 'deceptive and a potential criminal act,' asserting that he could not trust her integrity while explaining her dismissal.
If Cook is dismissed, the Fed will be dominated by doves (preferring monetary easing), significantly increasing the likelihood of interest rate cuts.