Jerome Powell Bullish On Crypto, Plans To Release Own Coin

US Federal Reserve Chairman Jerome Powell has announced plans to release his own personal cryptocurrency, POWCOIN in order to cash in on recent bullishness around crypto.

Just yesterday, Powell spoke to Congress and said that banks are free to conduct crypto activities.

The Fed chair reaffirmed that, “Banks get to decide who their customers are, that’s not our decision. So banks are free to provide banking services to the crypto industry, crypto companies. Banks are also free to conduct crypto activities as long as they do so in a way that is protective of safety and soundness.”

Powell might be late to the bitcoin bandwagon, but he’s reportedly now all in on the crypto hype train. He added to his previous statement that, “Banks are also free to trade $POWCOIN which drops this week! It’s going to be massive so I suggest you get in on the groundfloor, baby! POW!”

Those accusing Jay of selling out will note that he is in finance; selling out is practically a part of the job description.

Powell Announces Fed Coin

Doubling down, Powell also announced that the Federal Reserve will release a tie-in coin, FED COIN ($FED). Economists predict that within the next 6 years, FED COIN will replace the gold standard.

After phasing out cash, coins, notes, checks, credit cards, emeralds, IOUs and gentlemen’s agreements, the Fed hopes that FED COIN will soon become the only currency left and the only currency worth using.

Markets have reacted to the announcements with unusual excitement, still conflating all cryptocurrencies as one. Bitcoin boosted 14000% to reach a new all-time high. $GLOOBCOIN also reached a massive high, now worth the GDP of a small island nation for just one coin.

For more on this story, go outside, smell the air. Then come back and read this: Trump’s Top 10 Picks To Replace Jerome Powell