Pressure mounting on the US dollar's dominance. ECB Governing Council member Francois Villeroy de Galhau highlights a critical risk: mounting criticism of the Federal Reserve by the US administration could undermine the dollar's standing in global finance. When political pressure challenges central bank independence, it doesn't just affect monetary policy—it shakes confidence in the currency itself. For cryptocurrency markets, this friction is worth monitoring. Any erosion of fiat currency stability typically reshapes how traders view alternative assets and store of value dynamics. The Fed's credibility directly impacts how investors reassess their portfolios across traditional and digital asset classes.