Trump Taps Pro-Crypto Miran for Fed Board Through 2026 — As Bitcoin Reclaims $117K

Key Points

1. Stephen Miran, a pro-crypto advocate, has been nominated by Trump to fill the Federal Reserve Board seat vacated by Adriana Kugler, with his term set to last until 2026.

2. Miran's nomination is seen as part of Trump's strategy to reshape the Federal Reserve, aligning it more closely with his economic policies, including support for cryptocurrencies.

3. Markets reacted positively to the news, with Bitcoin rising above $117,000 and the broader crypto market, including Ether and XRP, also experiencing gains.

4. Trump has also signed an executive order penalizing banks that deny services to crypto firms, further supporting the crypto industry.

5. Miran's confirmation is pending Senate approval, expected after Congress returns from recess in September, and he would participate in the Fed’s next policy meeting if confirmed.