Earlier this Tuesday, Bitcoin (BTC), XRP and different main token costs started to unfold like wildfires on the X social media community, as rumors of Federal Reserve Chairman Jerome Powell's resignation.
Some right-wing influencers and a few cryptocurrency accounts have begun sharing resignations allegedly written by Powell.
Nonetheless, there is no such thing as a official assertion relating to Powell's resignation, and the letter is clearly not genuine.
Other than meaningless textual content, its seal, which is more likely to have been generated with the assistance of synthetic intelligence (AI), is clearly not an easy-to-read title, however has some significant textual content. There’s additionally a transparent design contradiction that clearly signifies that the letters should not genuine.
Pretend information. https://t.co/02xmtmj6kr
– Markets & Mayhem (@Mayhem4markets) July 22, 2025
Nonetheless, low-efford letters can nonetheless push crypto costs larger, with Bitcoin approaching the $120,000 stage.
There’s a persevering with right-wing strain marketing campaign concentrating on Powell because of the Fed's rates of interest. Some argue that expelling Powell earlier than the tip of his time period would doubtless undermine the Fed's independence.
