Now in Crypto, US president Donald Trump said he will appoint Stephen Miran to temporarily fill the seat of the Federal Reserve vacancy by Adriana Kugler; The White House has announced plans for an executive order directing agencies to open 401 (k) Crypto assets plan; and sharing Bitcoin Miner Iren Rose about 11% after it reported mining 728 BTC in July.
Trump selects the leading economic advisor to temporarily fill in the essential US Fed seat
US president Donald Trump He said he had appointed Stephen Miran.
In a social media post, Trump said Miran will serve Fed until January 31, 2026, as the White House will “continue to search for a permanent replacement.” The President has already been reported weighing Economic advisor Kevin Hassett, former Fed Governor Kevin Warsh and two other people to replace Kugler by the weekend.
The next member of the FED board will have significant influence on the country’s financial policy, including federal interest rates. The incoming nomination, which the Senate must approve, Following Kugler’s resignation On August 1. There was no reason for his departure.
Hassett, also director of the National Economic Council under Trump, revealed that holding a stake at Coinbase Global worth between $ 1 million and $ 5 million to June. Warsh, who served as a Fed governor from 2006 to 2011, has been reported Says That blockchain technology can benefit the US central bank in its payment systems.
Trump to allow crypto to 401 (k) plan for workers with us: White House
US president Donald Trump is Sign an Executive Order that opens the door For cryptocurrencies to be included in 401 (K) retirement plans, it is potentially repairing how Americans invested in their savings.
The White House Press Office confirmed to Cointelegraph on Thursday that the command directed the US labor department to assess restrictions around alternative properties with specified exclusion plans, including digital properties, private equity and real estate.
An old White House officer said the order teaches the Labor Secretary to clarify the department’s stance on alternative possessions and provide guidance on the processes of certainty for offering these types of investment to retirement portfolios.
When implemented, the order will provide access to Americans to digital assets through their plans at 401 (K), part of a $ 12.5 trillion retirement market and a sought after opportunity for crypto companies aimed at reaching more retail investors.
The move will be a significant step forward for the crypto industry, which has long sought a broader exposure to retail and legitimacy of the financial system.
Despite institutional investors increasing crypto allocations, sun -day -to -day savings are restricted due to risk of risk, regulation and volatility uncertainty.
The White House official said Trump’s directive would call the inter-agencies coordination with Treasury and the Securities and Exchange Commission (SEC) to explore rule changes that could support the adoption of alternative investments such as crypto in retirement products.
Iren climbed 11% on Wednesday after mining more than Mara in July
Shares to Iren Ltd are closed Trading on Wednesday to 11.4% After the Bitcoin miner was released Mara Holdings in Bitcoin (Btc) July production, mining 728 BTC at Mara’s 703 BTC.
Iren, former Iris Energy, beat the top miner of the sector despite having a smaller -deployment hashrate of 50 exahashes per second (eh/s) compared to 58.9 eh/s by Mara. Iren’s average hashrate in July was 45.4 eh/s, which signified that most of its machines remained online and productive throughout the month.
Mara was unchanged in July compared to June, but had been posted Solid second-quarter The revenues that have seen its income jump 64% year-to-year up to $ 238 million despite the increase in mining difficulties that put pressure on miners’ profitability.
The rising price of Iren’s sharing pushed its market cap to $ 4.11 billion, the second highest among Bitcoin public miners behind Mara.
