The recent developments in the US financial sector are worth paying attention to, as they involve everyone's wallets in our crypto market.

Here's what happened: Washington announced an investigation into current Federal Reserve Chair Jerome Powell, ostensibly due to issues with the Fed headquarters renovation project. But a closer look reveals the real intention behind it — the current government is dissatisfied with Powell's rate hike policies and wants to push him out, replacing him with someone more "obedient" to control monetary policy.

Most intriguing is that for the first time in US history, three former Fed Chairs have jointly spoken out. Greenspan, Bernanke, and Yellen, who together have led the Fed for nearly thirty years, publicly stated: this investigation is a political farce with a clear purpose — to punish Powell for refusing to cut rates without limits. Yellen's words were the most straightforward: "Based on my understanding of Powell, the possibility of him lying is zero." The implication is that they want a more controllable person to be the central bank chair — dream on.

Why are these three heavyweights reacting so strongly? The core issue boils down to six words: the independence of the Federal Reserve. This is not just a systemic issue but the cornerstone of whether the US dollar's credibility can be maintained. Once the central bank is directly controlled by politicians, monetary policy becomes a short-term political tool, with disastrous long-term consequences. For the crypto market, the Fed's policy space and decision-making independence directly influence liquidity, capital flows, and ultimately determine the market's volatility direction.

From another perspective, if the central bank becomes a "puppet" in the hands of politicians, executing political agendas rather than rational monetary policy, market participants will lose basic expectations of stability. This is a blow to traditional finance and poses even greater risks to crypto assets — lacking a predictable macro environment, both retail and institutional investors will become more cautious.