Trump vs Powell: Bitcoin’s moment?

Trump threatens to fire Fed chair

President Donald Trump's escalating threat to remove Federal Reserve Chair Jerome Powell sent ripples through both traditional and crypto markets on Thursday, raising fears of institutional instability – and fueling speculation about Bitcoin’s potential upside.

After weeks of failed pressure campaigns to force interest rate cuts, Trump declared Powell’s termination “cannot come fast enough.” No modern U.S. president has fired a Fed chair, and the move would shatter a 70-year precedent of central bank independence.

“It would set a really bad precedent,” said Juan Leon, senior investment strategist at Bitwise. But paradoxically, he added, “it would be very positive for Bitcoin.”

Analysts say such a move would likely trigger a loss of confidence in traditional markets while highlighting Bitcoin’s appeal as a non-sovereign store of value. Gold has already surged to new highs amid the broader economic uncertainty, and Leon believes Bitcoin could follow. “Gold rising in this market environment is a bullish signal for where Bitcoin will go once the macroeconomic dust settles,” he said.

The White House has confirmed that Trump is actively exploring the legal implications of removing Powell, and insiders say the administration is reviewing agency independence across the board – particularly in relation to cryptocurrency regulation.

Although Bitcoin may benefit long-term, other assets like Ethereum and Solana could face fresh scrutiny, especially given their ongoing regulatory ambiguity. For now, all eyes remain on the Fed and the fallout from this unprecedented political confrontation.

Canary files for spot Tron ETF

ETF provider Canary Capital has submitted a proposal to the U.S. Securities and Exchange Commission for a spot Tron ETF that includes staking – a first-of-its-kind product if approved.

The Nashville-based firm’s filing on Friday proposes the Canary Staked TRX ETF, which would allow investors to earn staking rewards while gaining exposure to Tron’s price. The product joins a growing list of alternative crypto ETF applications following the success of Bitcoin and Ethereum ETFs in 2024.

Canary Capital has already filed for ETFs tied to Sui, XRP, and even Pudgy Penguins. But staking has proven controversial. The SEC has yet to approve any fund with staking capabilities and earlier this week delayed a decision on Grayscale’s proposal to allow staking in its Ethereum ETF.

Tron (TRX), the ninth-largest cryptocurrency by market cap, trades at around $0.24, with strong annual gains despite a slight daily dip. The blockchain, which aims to decentralize the web, is now being seen as a serious contender for ETF exposure thanks to its liquidity and ecosystem traction.

Canary’s filing doesn’t specify which exchange the ETF would list on but adds to the growing pressure on the SEC to clarify its stance on staking inside regulated investment products.

Brazil sentences crypto scammers

Campina Grande, Paraíba – where Brazil’s largest crypto fraud case unfolded, leading to 170 years of prison sentences. Photo: Unsplash / Sebastien Goldberg

Three men have been sentenced to a combined 170 years in prison for orchestrating Brazil’s largest crypto scam, a fake Bitcoin investment scheme that defrauded 20,000 investors out of nearly $200 million.

Joel de Souza, leader of the firm Braiscompany, received the harshest sentence at 128 years. Prosecutors say the company promised high returns on Bitcoin investments but operated a pyramid scheme.

The court also ordered R$36.5 million (about $6.2 million) in restitution and seized numerous assets tied to the fraud. Victims included small investors who reportedly staked their life savings in the firm’s fake investment products.

Despite the crime, Brazil remains a leader in legitimate crypto integration. It has more Bitcoin ETFs than any other Latin American country, and major banks are embracing digital asset services.

Authorities say the Braiscompany prosecution shows their commitment to cleaning up the space without stifling innovation. As crypto adoption grows across Latin America, the case could serve as a regional precedent for how to strike that balance.

SPAR accepts Bitcoin in Switzerland

Swiss retailer SPAR has rolled out Bitcoin payments at its Zug store, allowing customers to pay with Lightning Network at checkout – a move that highlights how far Switzerland has come in normalizing crypto payments.

Using DFX Swiss’s OpenCryptoPay system, the integration enables fast and low-cost Bitcoin transactions via QR code, eliminating the delays and high fees associated with base-layer BTC transfers. The rollout was demonstrated by Bitcoin Association Switzerland director Rahim Taghizadegan, who said the checkout process was seamless and intuitive.

Zug, known as “Crypto Valley,” is already a hub for digital asset companies. It joins Lugano, another Swiss city embracing Bitcoin as near-legal tender under its “Plan ₿” initiative, which enables Bitcoin payments for taxes and municipal services.

SPAR operates nearly 14,000 stores in 48 countries. If successful, the Lightning-enabled checkout in Zug could serve as a model for broader rollout.

The move is the latest sign that Bitcoin is transitioning from speculative asset to practical currency – at least in countries like Switzerland that provide regulatory clarity and institutional support for digital innovation.