Trump To Investigate FDIC Over Alleged Crypto Business Debanking Scheme

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📈 Preview On Today’s News:

1. - Trump To Investigate FDIC Over Alleged Crypto Business Debanking Scheme

2. - Major Hedge Fund Bets Big on Bitcoin ETFs with $2.6B Investment

3. - Trump’s Advisor Meets With Fed Chair as Rate Cuts Remain Uncertain.

Keep reading below for more!

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Today’s News:

1)

Trump To Investigate FDIC Over Alleged Crypto Business Debanking Scheme

Former President Donald Trump and his crypto-aligned Republican allies have launched a probe into allegations that U.S. financial regulators pressured banks to sever ties with crypto businesses. Referred to as “Operation Choke Point 2.0,” the alleged campaign under the Biden administration echoes past financial crackdowns, with executives claiming banks were coerced into shutting down accounts without warning. Key testimonies from Anchorage Digital and Coinbase executives suggest regulatory pressure led to major banking disruptions, forcing layoffs and closures across the industry. As Trump returns to office, his administration is rolling back these restrictions, advocating for “fair and open access” to banking services for digital asset firms while intensifying scrutiny of financial regulators’ past actions.

• Trump and congressional Republicans are investigating claims that regulators pressured banks to cut off crypto firms, leading to widespread account closures and financial instability in the industry.

• With Trump back in office, his administration is reversing prior restrictions, promoting pro-crypto policies, and placing financial regulators under scrutiny for alleged discriminatory banking practices.

2)

Major Hedge Fund Bets Big on Bitcoin ETFs with $2.6B Investment

Millennium Management, a leading hedge fund, has disclosed a $2.6 billion investment in Bitcoin ETFs in its latest SEC filing. The fund's largest position is BlackRock’s IBIT, valued at over $844 million, alongside significant stakes in Fidelity’s Bitcoin ETF, ARK 21Shares Bitcoin ETF, Bitwise Bitcoin ETF, and Grayscale Bitcoin Trust. This move highlights growing institutional interest in cryptocurrency, with major players like Abu Dhabi’s sovereign wealth fund and Goldman Sachs also increasing their crypto holdings. Despite representing just 3% of Millennium’s total assets, the investment signals a cautious but notable shift towards digital assets.

• Millennium Management has invested $2.6 billion in Bitcoin ETFs, with BlackRock’s IBIT as its largest holding at $844 million.

• The filing reflects growing institutional crypto adoption, with Abu Dhabi’s sovereign wealth fund and Goldman Sachs also expanding their Bitcoin ETF positions.

3)

Trump’s Advisor Meets With Fed Chair as Rate Cuts Remain Uncertain.

Federal Reserve Chairman Jerome Powell testified before the Senate Banking Committee on Feb. 11, stating that the central bank sees no urgency in adjusting interest rates, casting doubt over potential cuts in 2025. This follows the US Bureau of Labor Statistics' January Consumer Price Index (CPI) report, which revealed higher-than-expected inflation at 3%, surpassing projections by 0.1%. The news led to Bitcoin dropping below $95,000 as investors braced for a prolonged high-interest-rate environment. Meanwhile, Kevin Hassett, a senior advisor from Trump’s administration, confirmed he has been meeting with Powell regularly, emphasizing that while the Fed remains independent, the president's stance is being heard. The Chicago Mercantile Exchange’s (CME) FedWatch tool shows only 3% of market participants expect a rate cut in March, signaling continued caution in risk-on markets like crypto.

• Federal Reserve Chairman Jerome Powell emphasized no rush to cut interest rates, while January’s CPI report showed inflation at 3%, leading to a Bitcoin drop below $95,000.

• Trump-era advisor Kevin Hassett confirmed ongoing meetings with Powell, though uncertainty remains, with only 3% of market participants expecting a rate cut in March.

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