A fake, AI-generated resignation letter claiming Federal Reserve Chair Jerome Powell had stepped down went viral on social media, fooling several Trump-aligned figures, including Senator Mike Lee of Utah.
Lee posted and then quickly deleted the letter, which sparked confusion and briefly caused spikes in cryptocurrency prices like Bitcoin and XRP. The incident highlights the growing risks of AI-generated misinformation in politics and financial markets. Despite the rumors, Powell has not resigned, and the letter was confirmed to be a hoax.
The episode underscores the vulnerability of public figures and markets to viral disinformation.
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