Senator Cynthia Lummis, representing Wyoming, made several statements on July 16, 2025, criticizing Federal Reserve Chair Jerome Powell and expressing concern over reports about the U.S. government’s Bitcoin holdings.
In a post at 15:23 UTC, Lummis stated, “It is past time Chair Powell puts the American people above his own ambitions and resigns.” Later that day at 15:50 UTC, she reiterated her position with a succinct message: “Jay Powell must go.”
At 20:18 UTC, Senator Lummis addressed concerns regarding U.S. government cryptocurrency reserves. She wrote, “I’m alarmed by reports that the U.S. has sold off over 80% of its Bitcoin reserves—leaving just ~29,000 coins. If true, this is a total strategic blunder and sets the United States back years in the bitcoin race.”
Senator Lummis has been an outspoken advocate for cryptocurrency adoption and regulatory clarity in the United States. Her comments come amid ongoing debates about monetary policy and digital asset management by federal authorities.
Federal Reserve Chair Jerome Powell has faced criticism from some lawmakers over his handling of inflation and interest rates during his tenure. The discussion around national Bitcoin reserves follows broader trends of government engagement with digital assets and concerns about maintaining competitiveness in global financial technology.
