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US Commerce Secretary Howard Lutnick is calling for Fed Chair Jerome Powell to resign, the secretary said in a Fox interview on Thursday. Lutnick said that Powell “has to go” and recommended getting a replacement Fed Chair soon. JUST IN: Commerce Secretary Howard Lutnick calls for Fed Chair Jerome Powell to resign. pic.twitter.com/0HbwJ0fZOn — Watcher.Guru (@WatcherGuru) July 24, 2025 “He should either resign or be replaced,” Lutnick said in the Fox interview. He also discussed the hesitance from the Federal Reserve to lower interest rates, something US President Donald Trump has also bashed Powell for. “It makes no sense… We are the most important country in the world with the greatest economy in the world. Why in the world do we have such a high interest rate? It’s got to be cut down,” Lutnick said. Fed officials have defended the pause on rate cuts due to uncertainty over the effect of tariffs on prices and that inflation hasn’t yet re...

Ulli Spankowski, CEO BISON app, chief digital officer Boerse Stuttgart Group and founder of Sowa Labs In the first of a two-part interview, Cryptonews spoke exclusively to Dr Ulli Spankowski, Chief Digital Officer at Boerse Stuttgart Group, founder of Sowa Labs and the BISON app, as well as being the CEO of the latter. In what was a wide-ranging discussion, Ulli provided insights on developments in the crypto space and where we are headed as an industry. Ulli discussed how current market conditions help the best companies in the sector to concentrate now more than ever on product development.  He explains how regulation was always at the center of the approach taken by BISON app, which is the flagship digital asset product of the sixth-largest exchange group in Europe. Europe is being smart with MiCA He thinks Europe is being smart with MiCA (Markets in Crypto Assets) and it will bring companies from outside the EU into the region as well as acting as a dynamo f...

Rising interest rates, delayed Bitcoin ETFs, global financial turmoil and other regulatory pressures are contributing to the crypto market's underperformance. The crypto currency market has experienced a notable downturn recently, with the total market capitalization falling by 10% between August 14 and August 23, reaching its lowest point in over two months at $1.04 trillion. This movement has triggered significant liquidations on futures contracts, the largest since the FTX collapse in November 2022.  Total cryptocurrency market capitalization, USD. Source: TradingView Several economic factors have contributed to this decline. As interest rates have surpassed the 5% mark and inflation remains above the targeted 2%, finance costs for both families and businesses have risen, placing pressure on consumer spending and economic expansion. That causes less money available for savings and could force people to let go of their investments just to cover monthly bills. Since inflation e...