Bitcoin reacted swiftly late Monday after President Donald Trump said he is removing Federal Reserve Governor Lisa D. Cook “effective immediately,” invoking the Federal Reserve Act’s “for cause” clause and citing alleged false statements on 2021 mortgage applications. Cook rejected the move, said she will not resign, and has retained counsel, setting up an unprecedented legal clash over presidential power and Fed independence.

Cook, a Biden appointee, was reconfirmed in 2023 to a term running to January 31, 2038, and—as a member of the Board of Governors—holds a permanent vote on the FOMC. As the headlines hit Asia and Europe overnight, Bitcoin slipped alongside a wobbly dollar and US rates curve. At press time, BTC traded around $110,137, down roughly 2.4% on the session, after an intrad

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