Top stories today:

1. Trump’s possible Powell ouster drives dollar lower
2. China pits humanoid robots against humans in half-marathon
3. Coinbase faces backlash over $12M “content coin” launched on Zora
4. Trump inaugural committee raised record $239M
5. Crypto casino takings hit $81.4B in 2024, despite being illegal

0. Data and calendar

Listen to our AI-generated podcast summarizing today’s newsletter (beware of hallucinations):

1. Trump’s possible Powell ouster drives dollar lower

The Bloomberg Dollar Spot Index hit its lowest since Jan. 2024 on Fri., as investors eyed Powell’s potential ouster and its economic impact:

• Selling deepened after NEC’s Hassett commented on Trump considering Powell’s ouster.

• Trump is said to be considering ways to oust Powell.

• “The president and his team will continue to study that [Powell’s ouster],” Hassett said on Fri.

• Mon.: Several hedge funds were among those selling the dollar after Hassett’s comments.

The euro has climbed to a 3-year high as the dollar declined

Bitcoin has rallied as the dollar weakened

Emerging market currencies have gained as the dollar continued to retreat

Gold has continued to rise on dollar weakness

3. China pits humanoid robots against humans in half-marathon