Brought to you by:
Top stories today:
- Trump’s possible Powell ouster drives dollar lower
- China pits humanoid robots against humans in half-marathon
- Coinbase faces backlash over $12M “content coin” launched on Zora
- Trump inaugural committee raised record $239M
- Crypto casino takings hit $81.4B in 2024, despite being illegal
0. Data and calendar
All values as of 6 AM ET / 3 AM PT, other than S&P500 and NASDAQ close (4 PM ET / 1 PM PT).
All times are ET.
Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):
1. Trump’s possible Powell ouster drives dollar lower
The Bloomberg Dollar Spot Index hit its lowest since Jan. 2024 on Fri., as investors eyed Powell’s potential ouster and its economic impact:
Selling deepened after NEC’s Hassett commented on Trump considering Powell’s ouster.
Trump is said to be considering ways to oust Powell.
“The president and his team will continue to study that [Powell’s ouster],” Hassett said on Fri.
Mon.: Several hedge funds were among those selling the dollar after Hassett’s comments.
The euro has climbed to a 3-year high as the dollar declined
Bitcoin has rallied as the dollar weakened
Emerging market currencies have gained as the dollar continued to retreat
Gold has continued to rise on dollar weakness
Are we still in a fintech winter? Will stablecoins take center stage this year? If you’re looking to get ahead in 2025, then Plaid’s Co-founder and CEO Zach Perret has the insights you need.
Bank’s interest in ad platforms
AI’s role in financial services
Big bank’s new focus on fraud
And more
*Sponsored.
