CoinDesk Podcast Network Fed Chair Powell Faces DOJ Probe | CoinDesk Daily
Jan 12, 2026
Fed Chair Powell faces a DOJ probe amid allegations of intimidation from the Trump administration to influence interest rate cuts. Predictions show that traders believe there’s a low chance Powell will leave his position early, viewing the threats as mere noise. Meanwhile, Tether freezes over $182 million on Tron, raising concerns about USDT's centralization. In regulatory news, Dubai bans privacy tokens like Monero and Zcash, indicating stricter compliance requirements for digital assets.
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Fed-White House Clash Seen As Noise
- Jerome Powell says the Trump administration threatened him with criminal charges to force interest rate cuts.
- Markets and prediction bettors largely treat the conflict as noise and expect Powell to remain in office.
Markets Don't Expect Powell To Quit
- Prediction markets show low odds of Powell leaving early despite public pressure.
- Poly Market gave a 7% chance and CalShis around 14%, signaling low investor expectation of a policy change.
Crypto Markets Largely Unmoved
- Crypto markets held steady amid the Fed-White House tensions, with Bitcoin above $91,000.
- Traders appear to treat the threats as noise rather than expecting imminent policy shifts.