Treasury Secretary Demands Fed Investigation into Mortgage Fraud Claims

U.S. Treasury Secretary Scott Bessent has called for an internal review of the Federal Reserve regarding allegations of mortgage fraud against Fed Governor Lisa Cook. This request for transparency from Chairman Jerome Powell raises concerns about trust in financial institutions and could impact market stability, particularly affecting cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), and USD-backed stablecoins sensitive to US policy shifts. Bessent’s demand comes amidst heightened volatility in the crypto market, which is known to be highly sensitive to regulatory news.