Bankless

ROLLUP: Clarity Bill Stalls | Powell vs. Trump | NYC Meme Rug | Silver Explodes | X Adds Crypto

91 snips
Jan 16, 2026
This week, Washington's crypto landscape heats up as the CLARITY Act faces hurdles and banks aim to stifle stablecoin yields. Tension rises with Trump's DOJ probing Jerome Powell, questioning Fed independence. Meanwhile, silver prices surge as safe havens draw attention. NYC's mayor faces backlash over a meme coin fiasco, and Tom Lee invests big in MrBeast, hinting at intriguing cultural shifts in crypto. Plus, X’s ambition to morph into a crypto super app adds another layer to the ongoing digital revolution.
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INSIGHT

Fed Independence Under Direct Attack

  • The DOJ opened a probe into Jerome Powell that threatens Federal Reserve independence and signals politicization of monetary policy.
  • Ryan Sean Adams and David Kaufman warn this is unprecedented and could pressure the Fed to align with the president's inflation goals.
INSIGHT

Precious Metals Rally During Monetary Fear

  • Silver spiked dramatically while gold also rose sharply amid fears about monetary stability.
  • Precious metals outperformed equities and crypto during the Fed-independence narrative this week.
INSIGHT

Clarity Act Is Crypto's Largest Regulatory Fight

  • The Clarity Act aims to define crypto securities vs. commodities and split SEC/CFTC jurisdiction.
  • Its breadth creates major battles between banks, DeFi proponents, and stablecoin issuers.
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