Crypto Market Rebounds as Court Blocks Trump’s Attempt to Remove Fed Governor Lisa Cook

The Bitcoin and cryptocurrency market saw a rebound on September 10 after a U.S. court issued a temporary injunction preventing President Donald Trump from removing Federal Reserve Governor Lisa Cook. The ruling by Judge Jia Cobb temporarily eased fears over the Fed’s independence and gave markets short-term relief.

Bitcoin Holds Steady, Altcoins Gain Following the court order, Bitcoin traded near $111,500. Major assets such as Ethereum, XRP, BNB, Solana, Dogecoin, and Cardano also recorded mild gains. In contrast, Trump-linked tokens weakened, with shares of his family’s platform World Liberty Financial (WLFI) dropping nearly 1%. AI-linked cryptocurrencies also saw strong momentum. Projects like Worldcoin (WLD), NEAR, RENDER, and VIRTUAL surged more than 8–50% within 24 hours. This comes as the SEC recently held talks with AI companies to discuss regulation at the intersection of artificial intelligence and crypto.

Investors Watch Inflation and Fed’s Next Move Markets are now closely watching fresh macroeconomic data that could shape the Fed’s interest rate decision. The Producer Price Index (PPI) will be released today, followed by the Consumer Price Index (CPI) on Thursday. These reports could determine whether the Fed cuts rates at its upcoming meeting. The outlook was further clouded by a significant revision to labor statistics. Nonfarm payrolls were cut by 911,000 jobs, highlighting a major overstatement in previous data published by the Bureau of Labor Statistics (BLS). August figures also disappointed, showing just 22,000 new jobs. In response, yields on 10-year U.S. Treasuries jumped sharply. The CME FedWatch tool now shows more than a 93% probability of a 25-basis-point rate cut, while some investors are even pricing in a possible 50-basis-point cut.

Temporary Safeguard for Fed Independence The court’s order confirmed that Lisa Cook remains a member of the Fed’s Board of Governors and prohibited the Trump administration from proceeding with her removal. The Fed must also grant her full access to her office and all privileges of her position until the legal dispute is resolved. While the ruling does not end the case, it temporarily eased concerns that Trump could undermine the Fed’s independence by pressing for immediate and aggressive rate cuts. For the crypto market—highly sensitive to signals of monetary policy shifts—this provided an instant boost.

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