Share this article
Can Bitcoin Benefit From Trump Firing Powell? Turkey's Lira Crisis May Provide Clues
Turkey's President Erdogan's experience with central bank interference serves as a warning, as it led to a currency collapse and increased investment in bitcoin and stablecoins.
Updated Apr 22, 2025, 3:41 p.m. Published Apr 21, 2025, 8:35 p.m.
What to know:
- President Donald Trump's reported plans to fire Federal Reserve Chairman Jerome Powell could accelerate the ongoing sell-off in USD and BTC adoption.
- Turkey's President Recep Erdogan's experience with central bank interference serves as a warning, as it led to a currency collapse and increased investment in bitcoin and stablecoins.
More For You
Solana CME Futures Fell Short of BTC and ETH Debuts, but There's a Catch
When adjusted for asset market capitalization SOL's relative futures volume looks better, K33 Research noted.
What to know:
- Solana's SOL futures began trading on the Chicago Mercantile Exchange (CME) on Monday, with a notional daily volume of $12.3 million and $7.8 million in open interest, significantly lower than the debuts of bitcoin (BTC) and ether (ETH) futures.
- Despite the seemingly lackluster debut, when adjusted to market value, SOL's first-day figures are more in line with BTC's and ETH's, according to K33 Research.
- Despite the bearish market conditions, the launch of CME SOL futures offers new ways for institutions to manage their exposure to the token, said Joshua Lim of FalconX.
Top Stories
