Live markets: Bitcoin briefly falls below $80,000, as stocks tumble, yields rise on ugly inflation print

Senate confirms Warsh to Fed board ahead of Chair vote

Bitcoin rose back above $80,000 shortly after the Senate confirmed Kevin Warsh to the Federal Reserve Board, with traders betting his past exposure to crypto investments could lead to a more favorable regulatory stance toward digital assets under a Trump administration.

The Senate is expected to hold a second vote on Wednesday on whether Warsh will formally become Fed chair. If approved, he would immediately take over leadership of the central bank, oversee interest rate policy meetings and help guide the Fed’s approach to inflation, banking oversight and emerging areas such as stablecoins and digital payment systems.