✨ U.S. President Donald Trump has nominated Stephen Miran to fill a vacant seat on the Federal Reserve Board of Governors until January 2026. The seat was previously held by Adriana Kugler, who announced her resignation last week to return to teaching at Georgetown University.
Miran, currently chair of the Council of Economic Advisers, is known for his crypto-friendly stance and advocates for simplifying digital currency regulations.
“I’m always amazed how much of the innovation in recent decades is simply rule-breaking: Uber, crypto, Airbnb,” Miran said in November 2023, commenting on the resignation of Binance CEO Changpeng Zhao.
Zhao pleaded guilty and agreed to pay $4 billion following U.S. Department of Justice accusations of violating anti-money laundering and sanctions laws. Miran noted that “while Binance did some bad things (financing Iran, Hamas), maybe we really should simplify a lot of regulations.”
Before joining the government, Miran worked as a senior strategist at investment firm Hudson Bay, which was involved in dealings related to the bankruptcy of crypto exchange FTX. Its former CEO, Sam Bankman-Fried, was found guilty in November 2023 on seven criminal counts and sentenced to nearly 25 years in prison.
Miran also has experience at the U.S. Treasury Department and Fidelity Investments.
? Miran’s appointment comes amid a public conflict between Trump and Fed Chair Jerome Powell over interest rate policies, which we have covered repeatedly.
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