The independence of the central bank.

US central bank independence under pressure.

The chair of the Federal Reserve released an unusual video this week in which he openly questioned the independence of the central bank. He acknowledged that monetary policy is increasingly influenced by political pressure and public expectations.

That pressure is not abstract. Donald Trump has repeatedly and publicly pressured the Fed to cut interest rates and loosen policy, often doing so directly through speeches and social media.

For markets, central bank independence is foundational. It underpins trust in inflation control, interest rate policy and long-term stability. When that independence is questioned, uncertainty rises across all asset classes. Crypto often reacts more strongly because it is highly sensitive to liquidity expectations and macro credibility.

Clarity Act fails, Coinbase highlights concrete flaws.

The Clarity Act, the most important crypto legislation ever proposed in the United States, failed to pass this week. The most notable response came from Coinbase, which explicitly did not support the bill, citing specific and material issues.

The proposal prevents stablecoin issuers from passing interest on reserves through to consumers, which Coinbase argues is fundamentally anti consumer. It also limits interoperability with DeFi protocols, slowing down open financial innovation. In addition, it places heavy restrictions on tokenized securities, despite strong institutional demand in this area.

The bill is not dead, but clearly unfinished. Its importance remains significant because it sets a precedent for how crypto will be legally integrated into the global financial system. Without workable regulation, large scale adoption remains constrained.

X integrates crypto and strengthens its role in financial information.

X announced plans to integrate crypto functionality directly into its app. The goal is to further cement its position as the primary platform for real time financial information.

For crypto adoption, this is highly positive. X is where markets debate, sentiment forms and information spreads fastest. Embedding crypto directly into that environment lowers friction and accelerates mainstream understanding and usage.