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According to Jinse Finance, aside from Cook, who is currently in a legal battle with Trump, the Federal Reserve Board of Governors (which has a full complement of seven members) also includes Powell and two governors appointed by the Biden administration (Jefferson and Barr), who, like Cook, are aligned with Powell. In addition, there are two governors appointed by Trump during his first term (Waller and Bowman), both of whom voted in favor of a rate cut in July. Trump has nominated his advisor Stephen Moore to fill the vacancy left by Kugler's resignation, and the Senate Banking Committee will hold a confirmation hearing for Moore's nomination next Thursday. If the approval process moves quickly, he may join the Federal Reserve in time for the September meeting, which would mean Trump would have at least three supporters on the Board. Furthermore, if the court rules that Trump can dismiss Cook, he will promptly nominate her successor, thereby securing a four-to-three majority of supporters on the Board. It is unlikely that this ruling will be completed before the September meeting, but Cook's absence could result in a tie among the three Trump-appointed governors, the two Biden-appointed governors, and Powell.

Foresight News reported that Credit Coop has announced the completion of a $4.5 million seed round, co-led by Maven 11 and Lightspeed Faction, with participation from an undisclosed exchange, Signature Ventures, Veris Ventures, TRGC, and dlab. The funds will help build the credit infrastructure layer for the stablecoin economy.