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Fed Chairman Powell Under Scrutiny: Investigation Started

<p class="text-left mb-4 ">Months before Federal Reserve Chairman Jerome Powell's term ends, a remarkable legal process has emerged in the US. According to a New York Times report citing sources close to the matter, US federal prosecutors have launched an investigation into Jerome Powell. The investigation is reportedly linked to Powell's previous testimony before Congress regarding the renovation of the Fed buildings in Washington, D.C., reigniting tensions between monetary policy and politics. </p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Powell speaks about the investigation</h2><p class="text-left mb-4 ">Federal Reserve Chairman Jerome Powell argued that the threat of a criminal investigation against him is politically motivated. Powell stated that the process, conducted by the U.S. Department of Justice, is related to the Fed's refusal to shape its interest rate policy in line with the White House's expectations. These statements come as Powell's term is set to end in May 2026 and tensions with President Donald Trump are steadily increasing. In a video message, Powell announced that the Fed received a grand jury subpoena on Friday. </p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/ekran-g-r-nt-s-2026-01-12-115841-6c92835f.webp" alt="Ekran görüntüsü 2026-01-12 115841.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> </p><p class="text-left mb-4 ">He stated that the subpoena, based on testimony given before the Senate in 2025, contains charges related to a nearly $2.5 billion renovation project at the Fed's headquarters in Washington. Powell described this move as "unprecedented," emphasizing that it should be seen as part of a long-standing political pressure campaign rather than an isolated legal process. The Fed chairman stated that Congress was regularly informed about the renovation project and that the entire process was conducted publicly. Despite this, Powell characterized the use of this as grounds for investigation as a "pretext," arguing that the real issue is monetary policy choices. According to Powell, the threat of criminal charges is a consequence of the Fed setting interest rates based on economic data and the public interest. "This is about whether monetary policy will be based on evidence or on political pressure and intimidation," Powell said, adding that the Fed's independence is under attack. The bank's governor stated that he would not back down from his public interest-oriented approach and would continue to focus on price stability and maximum employment goals throughout his term.</p><p class="text-left mb-4 ">The Fed had lowered its policy interest rate three times in the second half of 2025, bringing the rate range to 3.50–3.75 percent with the last cut in December. The quantitative tightening program was also ended during the same period. However, Trump frequently criticized Powell for not lowering interest rates quickly and deeply enough, even occasionally raising the possibility of his removal. In an interview with NBC, Trump said he was unaware of the Justice Department's investigation into the Fed and argued that the process was unrelated to interest rate policy.</p><p class="text-left mb-4 ">Powell's statements triggered a rapid price movement in the cryptocurrency markets. <a href="https://jrkripto.com/tr/coin/btc" target="_blank" rel="noreferrer" class="text-primary underline">Bitcoin </a>rose above $92,000 on Sunday night, while strong buying was seen in major altcoins such as Ethereum and Solana. Privacy-focused tokens were particularly noteworthy; Monero recorded double-digit gains, while Zcash also saw sharp price increases. </p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Who will be the new Fed chairman?</h2><p class="text-left mb-4 ">Meanwhile, who Trump will appoint to the Fed chairmanship after Powell is also being closely watched. According to information leaked to the press, the list of candidates includes Kevin Hassett, Kevin Warsh, Christopher Waller, and Rick Rieder. Trump has openly stated that the new chairman will be someone who "believes in much lower interest rates."</p>

12 Jan 2026

Bitcoin and Ethereum to See $2.2 Billion in Option Expiry

<p class="text-left mb-4 ">Today marks a critical threshold in the crypto derivatives markets. Bitcoin and Ethereum are stuck at "max pain" levels ahead of the expiration of over $2.2 billion worth of options contracts on the Deribit exchange. Simultaneously, macroeconomic decisions and data from the US are making the market's direction even more sensitive.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">$2.2 billion in options expiring locks the market</h2><p class="text-left mb-4 ">According to data, Bitcoin is trading around $90,000 at the time of writing. This level almost perfectly matches the $90,000 max pain point set for BTC options. On the Ethereum side, the price is stabilizing around $3,100; this is also quite close to the maximum pain level calculated for ETH options.</p><p class="text-left mb-4 ">Looking at the overall picture, the size of Bitcoin options is approximately $1.84–$1.89 billion, while the size of Ethereum options is in the $380–$396 million range. This concentration is causing prices to remain in a narrow range before expiration. In particular, market makers' hedge positions are suppressing volatility by putting pressure on the spot price.</p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/8177da0f7dc54fc0aab99a453f82052c-bd4c0247.webp" alt="8177da0f7dc54fc0aab99a453f82052c.webp" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> </p><p class="text-left mb-4 ">Another notable element in the <a href="https://jrkripto.com/tr/coin/btc" target="_blank" rel="noreferrer" class="text-primary underline">Bitcoin </a>options market is the balance between call and put positions. Call and put open positions are almost equal. This indicates that investors are cautious about both upward and downward scenarios, and a strong directional expectation has not yet formed. On the Ethereum front, the picture is somewhat more asymmetrical. Call contracts are seen to be more dominant than puts in ETH options. The concentration of calls, especially above $3,000, suggests that Ethereum may become more sensitive to upward movements after expiration. According to analysts, if the ETH price remains above its maximum pain level, market makers may be forced to pursue bullish positions.</p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/70675d43ee1e4468a01f5e8e47fd28af-76094156.webp" alt="70675d43ee1e4468a01f5e8e47fd28af.webp" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> </p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Macroeconomic agenda is putting pressure on crypto</h2><p class="text-left mb-4 ">The option expiration date alone does not create risk. The real pressure stems from two critical developments coming from the US on the same day. The first is the US non-farm payrolls (NFP) data for December. Market expectations are that employment growth will accelerate compared to the previous month. In particular, average hourly earnings data is closely watched in terms of the inflation outlook.</p><p class="text-left mb-4 ">High wage increases could strengthen expectations that the Federal Reserve may keep its interest rate policy tight for longer. This scenario puts pressure on non-interest-bearing assets and can negatively affect instruments such as Bitcoin and gold. Indeed, the recent strengthening of the dollar index has limited upward attempts in the crypto market.</p><p class="text-left mb-4 ">The second important issue is the decision of the United States Supreme Court regarding the tariffs implemented during the Trump administration. The possibility of the court making a decision that limits the tariffs implemented under presidential powers could affect trade and growth expectations in the short term. Crypto markets are known to react sensitively to tariff news in the past.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Sharp drop in open interest signals a "reset"</h2><p class="text-left mb-4 ">In addition to option expiry, open interest data in derivative markets is also noteworthy. Bitcoin open interest has fallen to its lowest levels since 2022. Significant declines on major exchanges such as Binance, Bybit, and OKX indicate that leveraged positions are being cleared across the market. Historically, these periods mark phases when the market experiences a "reset." When excessive leverage disappears, prices generally settle on a more stable level. While this process sometimes results in horizontal consolidation, in other cases it can pave the way for a new upward wave.</p>

9 Jan 2026

South Korea Gives Green Light to Spot Bitcoin ETFs

<p class="text-left mb-4 ">South Korea is preparing to take a long-awaited step in the digital asset market. The country's financial regulator, the Financial Services Commission (FSC), plans to open the door to spot Bitcoin ETFs this year as part of its 2026 economic growth strategy. This makes South Korea one of the newest major markets, following the US and Hong Kong, to allow spot Bitcoin ETFs.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Spot Bitcoin ETFs on the Agenda in South Korea</h2><p class="text-left mb-4 ">Until now, crypto assets like <a href="https://jrkripto.com/tr/coin/btc" target="_blank" rel="noreferrer" class="text-primary underline">Bitcoin </a>were not recognized as a valid underlying asset for ETFs in the country. This effectively prevented the creation of spot Bitcoin ETFs. The planned regulatory change by the FSC aims to remove this obstacle and provide institutional investors with more direct access to the crypto market. Officials argue that this step will deepen capital markets and strengthen South Korea's position in global financial competition. The regulator is closely monitoring experiences in other countries during this process. The intense interest in spot Bitcoin ETFs in the US, in particular, serves as an important point of reference for South Korea. BlackRock, one of the world's largest asset managers, previously announced that its spot Bitcoin ETF products offered in the US have become one of the company's highest revenue streams. This suggests that similar products could see strong demand in South Korea. The current size of the country's crypto market also supports this expectation. According to data from the Korea Financial Intelligence Unit (KoFIU), the number of eligible users to trade crypto assets reached 10.7 million in the first half of last year. During the same period, the average daily trading volume was 6.4 trillion South Korean won. These figures indicate that South Korea has one of the most active individual investor bases in Asia. In addition to spot Bitcoin ETF plans, the government is also working on a comprehensive Digital Asset Law. According to local media reports, this law specifically targets stablecoins. The draft regulation proposes licensing requirements for stablecoin issuers, holding them back 100% of their value, and allowing users the right to redeem them at any time. Additionally, the framework for cross-border transfers of stablecoins is planned to be clarified.</p><p class="text-left mb-4 ">South Korea's digital transformation agenda is not limited to the private sector. The government is also working on state-issued digital tokens, called deposit tokens, to digitize public funds. Unlike stablecoins, these tokens are intended to be directly linked to public finances. Officials aim to move 25% of treasury transactions to blockchain-based payment systems by 2030.</p><p class="text-left mb-4 ">It is stated that pilot applications have already been launched and some legal regulations concerning the central bank and the treasury are expected to be on the agenda during the year.</p>

9 Jan 2026

SharpLink Makes a $170 Million Move into Ethereum

<p class="text-left mb-4 ">Consensys-backed SharpLink Gaming has made one of the largest institutional staking moves ever seen in the Ethereum ecosystem. The company staked approximately $170 million worth of Ethereum (ETH) on the Linea mainnet, one of Ethereum's scaling networks. This move, completed in the first days of January 2026, rapidly increased Linea's total locked value (TVL) and brought institutional capital's interest in Layer-2 networks back into the spotlight.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">Consensys Ethereum Staking</h2><p class="text-left mb-4 ">This distribution was implemented as part of the "Linea Surge" initiative, which aims to grow the Linea ecosystem. This program aims to both accelerate TVL growth and create a more attractive environment for developers. SharpLink joined the process with an initial investment of approximately 7,000 ETH on January 3rd. This amount was equivalent to approximately $22.5 million at the prices of that day. The company added additional tranches within a few days, increasing its total investment to approximately 53,000 ETH as of January 6th. Thus, the total value transferred to the Linea network reached approximately $170 million.</p><p class="text-left mb-4 "> <figure class="my-6"> <img src="https://minio-api-1.jrkripto.com/blog/ekran-g-r-nt-s-2026-01-09-131433-c76173e9.webp" alt="Ekran görüntüsü 2026-01-09 131433.png" width="auto" height="auto" class="w-full rounded-lg border" /> </figure> </p><p class="text-left mb-4 ">This large capital inflow was directly reflected in Linea's TVL data. The network's total locked value quickly surpassed $340 million. A significant portion of this increase is attributed to SharpLink. This development indicates that Linea is in a stronger position in the competition to attract capital from other Ethereum Layer-2 solutions.</p><p class="text-left mb-4 ">SharpLink's staking structure specifically targets institutional investors. The company uses a permissioned and verified liquid staking protocol. This structure combines different yield sources under one roof. The system includes <a href="https://jrkripto.com/tr/analytics" target="_blank" rel="noreferrer" class="text-primary underline">Ethereum's </a>native staking yields, restaking rewards obtained through EigenCloud, and direct incentives provided by Linea and Ether.fi. All assets are held by Anchorage Digital, which provides institutional-level custody services. In this respect, the structure offers a compatible and on-chain yield solution for large investors.</p><p class="text-left mb-4 ">SharpLink's connection to Linea is further highlighted by the strong ecosystem behind the company. Linea was developed by Consensys, an Ethereum infrastructure company also known for being behind MetaMask. SharpLink's close relationship with Consensys makes it one of the institutional entry points into the Linea ecosystem. But the company's plans don't stop there. SharpLink aims to launch a native governance token called SHARP in the third quarter of 2026. The distribution is planned to be a combination of airdrops for early-stakers and a public sale. This step is expected to further strengthen protocol participation with long-term incentives. On the other hand, SharpLink holds one of the largest Ethereum treasuries among publicly traded companies. The company has approximately 864,840 ETH, all of which is staked. This figure corresponds to a value of approximately $2.7 billion at current prices. The management sees making Ethereum productive for shareholders, rather than simply holding it as a passive asset, as a strategic priority. This $170 million move demonstrates the growing interest of institutional investors in structured, regulated, and multi-layered yield strategies. It also positions Linea as an increasingly attractive Ethereum scaling network for large-scale capital investment.</p>

9 Jan 2026

Trump Sends a Clear Message: No Pardon for Former FTX CEO

<p class="text-left mb-4 ">Despite signing numerous pardons and sentence reductions in 2025 that closely concern the cryptocurrency world, US President Donald Trump has clearly closed the door on former FTX CEO Sam Bankman-Fried. In a comprehensive <a href="https://www.nytimes.com/live/2026/01/08/us/trump-nyt-interview" target="_blank" rel="noreferrer" class="text-primary underline">interview </a>with The New York Times, Trump addressed the frequently discussed possibility of a presidential pardon, explicitly stating that there are no plans for a pardon for Bankman-Fried.</p><h2 class="text-left text-foreground text-3xl font-bold mb-3 mt-1">No pardon for SBF</h2><p class="text-left mb-4 ">Trump's statement comes after a wave of pardons and sentence reductions covering hundreds of people in the first year of his second presidential term. These decisions included notable figures from the cryptocurrency ecosystem. However, Trump's approach shows that he does not evaluate every crypto case in the same way. Bankman-Fried's case stands out as one of the clearest examples of this distinction. Bankman-Fried, who was found guilty in the case opened after the collapse of the FTX exchange, was sentenced to 25 years in prison for misuse of customer funds and various fraud offenses. FTX, once one of the world's largest cryptocurrency exchanges, experienced a historic bankruptcy process with billions of dollars in losses. </p><p class="text-left mb-4 ">During the court proceedings, prosecutors revealed that user assets were illegally channeled through Alameda Research, and that this had become a systematic operation. Despite this, Bankman-Fried's family hasn't completely lost hope for a pardon. As Bloomberg reported in January, his family made several attempts to contact the Trump administration. In February 2025, in his first interview from prison, Bankman-Fried described himself as disillusioned with the Biden administration's crypto policies, attempting to frame his case within a broader political context. However, Trump's recent statements suggest these efforts have been unsuccessful. Trump's stance is further highlighted by his other pardons in the crypto space. In 2025, the President pardoned Silk Road founder Ross Ulbricht. </p><p class="text-left mb-4 ">This was followed by pardons for BitMEX founders Arthur Hayes, Benjamin Delo, and Samuel Reed, as well as former executive Gregory Dwyer. In October, the conviction of <a href="https://jrkripto.com/tr/exchanges/binance" target="_blank" rel="noreferrer" class="text-primary underline">Binance</a> founder Changpeng Zhao (CZ) was overturned by a presidential pardon. The pardon, in particular, sparked controversy in Washington. Some Democrats in the Senate demanded an investigation into the background of the decision. Senators Elizabeth Warren and Bernie Sanders argued that the possible links between the Trump-backed World Liberty Financial project and Binance should be examined. Looking at this picture, the boundaries drawn by Trump become clearer. The President views the crypto sector as an area that needs strategic and economic support. </p><p class="text-left mb-4 ">However, this support does not include executives convicted of crimes such as large-scale fraud and misuse of customer funds. Trump's "closed file" approach to Bankman-Fried reveals that this distinction is a conscious choice. Bankman-Fried, currently in a low-security prison near Los Angeles, continues to serve his sentence. According to the current schedule, he has the possibility of being released as early as 2044, including parole. The appeals process remains uncertain.</p>

9 Jan 2026

Politics

Fed Chairman Powell Under Scrutiny: Investigation Started16 minutes ago

ETH, BTC

Bitcoin and Ethereum to See $2.2 Billion in Option Expiry3 days ago

BTC

South Korea Gives Green Light to Spot Bitcoin ETFs3 days ago

ETH

SharpLink Makes a $170 Million Move into Ethereum3 days ago

Politics

Trump Sends a Clear Message: No Pardon for Former FTX CEO3 days ago

Politics

Fed Chairman Powell Under Scrutiny: Investigation Started16 minutes ago

ETH, BTC

Bitcoin and Ethereum to See $2.2 Billion in Option Expiry3 days ago

BTC

South Korea Gives Green Light to Spot Bitcoin ETFs3 days ago

ETH

SharpLink Makes a $170 Million Move into Ethereum3 days ago

Politics

Trump Sends a Clear Message: No Pardon for Former FTX CEO3 days ago

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