The long-running campaign to slash interest rates just got a major jolt. Federal authorities have launched an unprecedented criminal investigation into Federal Reserve Chair Jerome Powell, adding another layer of complexity to an already heated debate over monetary policy direction.

This development intensifies the pressure on the Fed's decision-making process at a critical time. For crypto market participants, Fed policy calls the shots—lower rates typically boost risk appetite and support alternative asset valuations. Conversely, rate holds can cap bullish momentum. The investigation opens questions about the independence and trajectory of future policy moves, potentially reshaping expectations around inflation, employment targets, and capital allocation strategies across markets.