The recent political struggle surrounding the Federal Reserve in Washington has essentially been unfolding for a long time. Claims of violations of conduct or procedural irregularities are just surface-level arguments. The real contest lies in: Does the central bank’s independent decision-making power still belong to the central bank? Powell straightforwardly made it clear—this is forcing me to abandon my principles. One sentence cuts through the core issue: Will future interest rate hikes and cuts follow actual inflation and employment data, or will they be influenced by politicians’ opinions?

This matter may seem distant from us, but its impact is profound. Once the central bank becomes a political tool, the "safety beliefs" we’ve been instilled with since childhood—such as the credibility of the dollar, government bonds, and the stability of the financial system—all come into question. Fiat currency is continuously devalued under inflation, and the cash held by ordinary people shrinks daily, yet bureaucrats are still hampering each other, and no one is solving the real livelihood difficulties.

Against this backdrop, the value of decentralized assets becomes evident. Powell previously loosened restrictions on the crypto industry, encouraging the Federal Reserve to relax some regulations, allowing traditional banks to participate more freely in crypto custody and stablecoin businesses. But now, ironically, the stability of the Fed’s policies is wavering, which instead highlights the unique value of crypto assets as a safe haven—they are not controlled by any single government or institution, and there’s no need to worry about political upheavals. They have become an important hedge against traditional financial risks.