Crypto assets surge as Fed Governor Cook's dismissal sparks interest rate cut hopes

US President Donald Trump has notified Federal Reserve Board member Lisa Cook of her dismissal, raising concerns that confidence in the US financial system may be undermined.
As anticipation grew, crypto assets (virtual currencies) rose all at once. As of 6:30 a.m. on the 27th, Bitcoin was up 1.54% from 24 hours earlier on CoinMarketCap.
Ethereum, the second largest cryptocurrency by market capitalization, also surged 5.05% to trade at $4,572.
In particular, Ripple, the third largest cryptocurrency by market capitalization, surged 6.76% to $3.03. On that day, Ripple's highest price was $3.07 and its lowest price was $2.
Not only that, but major cryptocurrencies are also rallying together, with Solana soaring 4.81% and DoZico rising 5.34%.
This was a shock to the market, with the dollar falling and gold prices rising after President Trump notified Fed Governor Tim Cook of his dismissal.
This is because the possibility of dismissal has increased. Director Cook argued that "the president has no authority to dismiss me," and hinted at legal action. This situation has caused instability in the financial system, but even if dismissal is realized,
If the Fed were to cut interest rates, it would likely become more dovish within the Fed and further increase the likelihood of a rate cut. This expectation is driving up the cryptocurrency market.