Core Points - The Trump administration is seeking to fire Lisa Cook from the Federal Reserve's board of governors ahead of an important interest rate vote [1][5] - Cook's legal team argues that the administration has not provided sufficient cause for her dismissal, highlighting potential economic risks [2][4] - This situation marks a historic attempt by a president to influence the independent Federal Reserve, with Cook being the first governor targeted for removal [3] Legal Proceedings - The Trump administration filed a response to the U.S. Court of Appeals, claiming Cook's arguments against her firing are without merit [2] - Cook has initiated legal action to block her firing, and a federal judge previously ruled that the removal was illegal, reinstating her to the board [4] Allegations and Investigations - Allegations against Cook include claims of mortgage fraud related to her property declarations, which have led to a criminal referral to the Justice Department [3][4] - The administration's justification for firing Cook is based on these allegations, although her characterization of the properties may undermine the claims [4] Economic Implications - The administration's appeal comes just before a Federal Reserve meeting where a key interest rate decision is expected, with economists predicting a quarter-point cut [5]

U.S. spot Bitcoin exchange-traded funds (ETFs) recorded a significant influx of capital on Monday, reversing two days of consecutive outflows. The $368.25 million net inflow was the largest single-day inflow since August 8, according to SoSoValue data. With none of the twelve spot Bitcoin ETFs recording outflows, data pointed to renewed conviction from institutional investors. Fidelity's FBTC led the inflows with a net inflow of $156.50 million, followed by Ark Invest and 21 Shares’ ARKB with $89.47 mill ...