On August 8, 2025, President Donald Trump nominated Stephen Miran, a pro-Bitcoin economist, to the Federal Reserve Board of Governors. This fills the spot left by Adriana Kugler’s resignation.
The role is temporary, until January 31, 2026, and needs Senate approval. Trump shared the news on Truth Social, calling Miran’s economic skills “unparalleled.”
Miran holds a Ph.D. in economics from Harvard. He chairs the Council of Economic Advisers now and worked in the Treasury during Trump’s first term. At the Manhattan Institute, he pushes for free markets and less regulation to spark innovation. He questions some economic data and backs financial deregulation for growth.
Miran supports Bitcoin and crypto strongly. He has written in favor of them and sees digital assets as key to economic growth under lighter rules. In a December 2024 interview on The Bitcoin Layer podcast, he called financial deregulation vital and tied it to crypto innovation. He regretted not buying Bitcoin ETFs sooner, showing his bullish view. Observers call him a “clear Bitcoin ally” at the Fed.
The news lifted crypto markets. Bitcoin jumped 2-3%, topping $117,500 briefly. Traders see it as a sign of easier monetary policy, with fewer rate hikes and more crypto support. Gold hit a record $3,401 per ounce, up 39% this year, amid optimism and inflation worries.
This fits Trump’s pro-crypto push. Recent executive orders allow crypto in 401(k) plans and ban “ideological debanking.” If confirmed, Miran could shape Fed policies to help crypto markets and innovation. But critics fear it weakens Fed independence, risking high inflation like in the 1970s. Weak Treasury demand and policy shifts add to concerns.
Trump aims to place allies in economic spots to remake U.S. monetary policy. Miran’s views on deregulation and crypto could drive changes. The crypto community cheers, with Bitcoin up and other coins like Ethereum and Dogecoin gaining. This nomination highlights Trump’s focus on innovation and growth through digital assets.
