Trump Taps Pro-Crypto Miran for Fed Board Through 2026 — As Bitcoin Reclaims $117K

President Donald Trump has nominated Stephen Miran, chair of the Council of Economic Advisers, to the Federal Reserve Board of Governors. The move comes just as Bitcoin surges back above $117,000, marking renewed momentum in both politics and crypto markets.

Trump made the announcement Thursday on his Truth Social platform, confirming Miran will fill the seat vacated by Adriana Kugler, who resigned Friday.

Kugler, a Biden appointee, stepped down several months before her 14-year term was set to expire in January 2026. Trump clarified that Miran will serve the remainder of that term while the search for a permanent nominee continues.

Miran’s appointment comes at a crucial time. His seat includes voting rights on the Federal Open Market Committee (FOMC), the body responsible for setting interest rates. His stance on monetary policy, and particularly crypto, may influence the Fed’s direction amid ongoing inflation concerns and an evolving financial landscape.

Miran, a former senior advisor to Treasury Secretary Steven Mnuchin during Trump’s first term, is no stranger to controversy. He has publicly criticized the Fed’s stimulus policies during the COVID-19 pandemic and has supported the idea of devaluing the U.S. dollar as a tool for correcting trade imbalances.

He is also credited with drafting the “Mar-a-Lago Accord,” a policy framework advocating for structural changes in global trade and currency alignment.

His pro-crypto stance is also well known. Miran has spoken in favor of integrating digital assets into traditional financial systems and loosening regulations that restrict their adoption. His appointment adds fuel to speculation that Trump is assembling a Federal Reserve more aligned with digital innovation and less beholden to conventional monetary orthodoxy.

Notably, in December 2024, Trump nominated Miran to lead the Council of Economic Advisers.

Miran’s confirmation will require Senate approval, which is unlikely to happen until Congress returns from recess in September. If confirmed, he would participate in the Fed’s next policy meeting on September 16–17.

Kugler’s departure and Miran’s nomination signal Trump’s broader intent to reshape the Fed. The President has also been openly critical of current Fed Chair Jerome Powell.

Donald Trump is ramping up his criticism of the Federal Reserve, and it could have a big impact on Bitcoin's price#JeromePowell #Cryptohttps://t.co/uKxd4GzT8A

Powell’s term ends in May, and Trump is reportedly considering several candidates to replace him, including National Economic Council Director Kevin Hassett, former Fed Governor Kevin Warsh, and current Governor Christopher Waller.

Miran is seen by some analysts as a “shadow chair,” someone who may not lead the Fed but could challenge Powell’s policy direction from within. Trump has long pushed for lower interest rates and has sparred with Powell over monetary tightening.

Markets reacted swiftly to Miran’s nomination. The U.S. dollar index, which tracks the greenback against a basket of major currencies, slipped into negative territory shortly after the announcement.

Investors interpreted the move as a possible shift toward looser monetary policy ahead of the 2026 presidential election cycle.

Meanwhile, Bitcoin has rebounded above $117,000 after dipping below $112,000 earlier this week. At press time, Bitcoin was trading at $117,224, up nearly 2% in the past 24 hours. Its trading volume rose by nearly 15% over the same period, reaching over $37 billion, a sign of increased market participation.

The broader crypto market followed suit. Ether gained 5% to trade above $3,860, while XRP rose 3.4% to $3.10. Gold was also higher, rising 1% to $3,468 per ounce, while U.S. equities remained steady and the dollar weakened slightly.

Traders noted the bullish technical setup forming for Bitcoin. Analyst Rekt Capital pointed to support building around the $114,000 level and the potential breakout from an ascending triangle formation.

#BTC

Slowly but surely, Bitcoin is getting closer to finding out

Potential for reversal from an Ascending Triangle-like formation first discussed on the Elite Live Weekly Strategy Call this past Tuesday

Become Elite here:https://t.co/CWLXYsY4t2$BTC #Crypto #Bitcoin https://t.co/I5sEADbwga pic.twitter.com/VWEwDyHagi

Fellow trader CrypNuevo said that market liquidity is drawing BTC toward the $119,000 zone. “This is the way the market moves — always around and towards the liquidity,” he posted on X.

Miran’s pro-crypto views could support the current sentiment. The nomination coincides with Trump’s wider effort to embrace digital assets as part of his economic agenda.

On August 7, Trump signed an executive order penalizing banks that block Bitcoin transactions. The measure is intended to curb what many in the industry call “debanking,” the denial of banking services to crypto firms.

@realDonaldTrump is preparing to sign an executive order that would open the doors for 401(k) retirement plans to include exposure to crypto.#Trump #Cryptohttps://t.co/sBASeWQzdj

The order will direct regulators to investigate and fine banks that restrict crypto access. It also aims to eliminate the “reputational risk” category in regulatory guidelines, which critics say was used to discriminate against digital asset companies under the previous administration.

The executive order is expected to clarify that crypto firms should have equal access to the banking system. Analysts believe it could lead to incentives for financial institutions to support digital assets and potentially include them in mainstream products, such as 401(k) retirement plans.

Trump is also preparing a broader executive order directing the Labor Department to reconsider which asset types are allowed in retirement plans governed by ERISA. The new guidance could open the door to exposure in private equity, real estate, and cryptocurrencies.

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