Powell’s Future, Market Shifts, Cyber Risks & Global Power Plays | The Integrity Ledger

Welcome to the Integrity Ledger — Markets edge higher as power shifts quietly: Powell’s grip, cyber intrusions, crypto thefts, AI’s ethical lines, and global unrest converge, reminding investors and citizens alike that behind today’s numbers, control, trust, and accountability are contested.

Federal Reserve Chair Jerome Powell’s term as chair ends May 15, but he may remain on the Fed’s Board of Governors until January 31, 2028, given his ongoing separate board term. A Justice Department investigation into Powell’s testimony about $2.5 billion Fed building renovations could delay confirmation of a new chair, potentially allowing Powell to block efforts by the Trump administration to gain board majority control. If Powell stays, he and other governors could outvote any new chair on interest rate policies.

Powell’s continued presence on the board would limit the White House’s ability to shift Fed policy toward aggressive rate cuts, preserving the bank's independent governance. This scenario could delay potential policy changes preferred by Trump-backed nominees and maintain Fed stability amid political pressures through 2028.

Fast Company

US Treasuries declined and short-term yields rose after President Donald Trump indicated he would nominate someone other than Kevin Hassett to replace Federal Reserve Chair Jerome Powell, weakening expectations for two interest-rate cuts in 2026. The two-year Treasury yield climbed five basis points to 3.61%, its highest since the Fed's December rate cut, while market sentiment shifted towards former Fed Governor Kevin Warsh over Hassett as the likely nominee.

Investor focus now pivots to the Fed leadership transition and its impact on monetary policy. Rising short-maturity yields and narrowed yield differentials signal market reassessment of the Fed's rate path, reducing the popularity of steepener trades. Firms and investors should monitor evolving signals on inflation and employment data as these will influence future rate cut prospects.

Financial Post

IES Holdings, Inc. finalized its acquisition of Gulf Island Fabrication, Inc., a steel fabricator serving industrial, energy, and government sectors, paying $12 per share in cash. The transaction, valued at approximately $192 million in equity and $152 million enterprise value including $40 million cash, integrates Gulf Island into IES's Infrastructure Solutions segment effective January 16, 2026.

This acquisition expands IES's fabrication capacity with Gulf Island’s 450,000-square-foot campus and skilled workforce, enhancing solutions in generator enclosures, power distribution, and structural buildings. It strengthens IES's position in U.S. infrastructure projects, especially in energy markets including oil, gas, and potential nuclear development.

Benzinga

On January 10, 2025, blockchain investigator ZachXBT exposed a sophisticated hardware wallet scam that resulted in the theft of over $282 million in Litecoin and Bitcoin. The attacker leveraged compromised device manufacturing processes to access private keys. Subsequent laundering activity using THORChain and exchanges caused Monero prices to surge over 15% as stolen funds were converted into the privacy-focused coin.

This incident reveals critical vulnerabilities in hardware wallet supply chains, challenging established assumptions about cold storage security. It signals a need for stronger manufacturing oversight and enhanced cross-chain monitoring to prevent similar large-scale thefts. Investors and custodians must reconsider risk management protocols amid rising complexity in crypto asset laundering.

Bitcoinworld.co.in

Taiwan Semiconductor (NYSE: TSM) reported a record $16 billion profit and 35% year-over-year growth, driven by aggressive price hikes and robust AI demand. Beginning 2026, TSMC implemented tiered price increases of 3-10%, targeting high-margin AI clients like Nvidia with the highest hikes, while smartphone chipmakers face smaller increases amid cost sensitivity. Meanwhile, Apple’s share of advanced node wafer allocations is declining, signaling a shift toward AI-centric customers such as Nvidia and cloud hyperscalers.

TSMC’s bifurcated pricing strategy enhances margins but introduces exposure to shifting customer dynamics and geopolitical risks. Capacity constraints and slower-than-expected ramp of 2-nanometer technology pose execution challenges. Investors should monitor gross margins, utilization of new fabs, and competitive pressures from Samsung among smartphone customers as TSMC navigates this fundamental transformation.

Benzinga

OpenAI is reportedly preparing to introduce advertising within ChatGPT, leveraging its 900 million weekly users through a secondary model that detects commercial intent in conversations. While this move aims to create a unified platform for targeted ads, concerns arise over the chatbot's inability to truly understand context and form genuine trust with users, risking ineffective or intrusive advertising.

For businesses and advertisers, integrating ads into ChatGPT offers access to a vast, engaged audience but may yield poor contextual relevance due to limitations in large language models. Users should remain cautious, recognizing that ads served are algorithmic matches rather than trusted suggestions, highlighting the need for transparency and improved qualitative understanding in AI-driven advertising.

Fast Company

A China-linked advanced threat actor, tracked as UAT-8837, has targeted critical infrastructure in North America by exploiting known and zero-day vulnerabilities, including the CVE-2025-53690 Sitecore zero-day. Cisco Talos researchers identify these attacks as focused on initial network access, employing credential theft, server exploits, and reconnaissance using native Windows commands and living-off-the-land tools.

The use of zero-day exploits like CVE-2025-53690 and continual cycling of open-source tools highlights the evolving sophistication of state-linked hackers. Organizations in critical infrastructure sectors must strengthen defense-in-depth, monitor for indicators of compromise, and update patching strategies to mitigate risks of credential theft and supply-chain attacks.

Bleeping Computer

First Bancshares, Inc. posted record after-tax net income of $7.62 million for fiscal year 2025, up from $6.58 million in 2024, with diluted earnings per share rising to $3.15. Total assets grew 5.0% to $564.6 million, driven by an 18.4% increase in loans to $501.4 million and a 2.6% rise in deposits to nearly $485 million. The bank maintained strong asset quality with classified and nonperforming assets falling to 1.22% of loans, while capital ratios remained robust, supporting future growth.

The company’s solid profitability and asset quality improvements position it well for strategic growth in 2026. Investors can expect continued disciplined capital allocation and operational efficiency, bolstered by regulatory 'well-capitalized' status and enhanced credit loss reserves.

Benzinga

A Kyiv court ordered former Prime Minister Yulia Tymoshenko to pay $760,000 bail to avoid detention over bribery charges linked to securing loyal votes from lawmakers. The charges allege she organized a systemic mechanism for improper benefits, carrying a potential 5-10 year prison sentence if convicted. Tymoshenko denies wrongdoing and is appealing the bail condition, while facing travel and communication restrictions.

This high-profile case deepens political tensions in Ukraine, highlighting ongoing anti-corruption efforts amid a fraught domestic context. Investors and observers will watch how the legal proceedings affect Tymoshenko's political influence and the broader stability of Ukraine's governance landscape.

RFERL

Glancy Prongay & Murray LLP reminds Ardent Health, Inc. (ARDT) investors of the March 9, 2026 deadline to file lead plaintiff motions in a class action concerning securities purchased between July 18, 2024 and November 12, 2025. The lawsuit alleges the company misstated its revenue and liability reserves, with shares plunging 33.8% following a $43 million revenue decrease and a $54 million rise in professional liability reserves due to settlements and litigation.

Investors who suffered losses during the class period may recover claims under federal securities laws, reflecting risks of delayed loss recognition and insufficient liability coverage. The case highlights growing scrutiny over accounting practices and reserve adequacy in healthcare firms facing social inflation in malpractice claims.

Benzinga

Iran faces a deepening economic crisis marked by a collapsing rial and widespread protests following price surges and sanctions. The U.S. has imposed stringent sanctions since 1979, severely limiting oil revenue and causing inflation and unemployment to soar. Despite a government crackdown and internet blackouts, underlying economic struggles and tensions remain unresolved.

Al Jazeera

US President Donald Trump threatened to impose tariffs on countries opposing his efforts to acquire Greenland, citing its strategic importance for American national security. European leaders and Denmark rejected the proposal, warning the island is not for sale. This move risks increasing transatlantic tensions and challenges NATO unity and Arctic security.

The Times Of India

Venezuelan democracy eroded gradually through governmental corruption and institutional decay, culminating in a humanitarian and economic crisis with hyperinflation and mass poverty. Despite Maduro's regime clinging to power, opposition efforts revealed electoral fraud and widespread public dissent amid repression. This slow dismantling of democratic institutions highlights the dangers of complacency and the challenges to restoring legitimate governance.

Time

China's market regulator has launched an anti-monopoly investigation into Trip.com Group Ltd. for potential abuse of its market dominance, specifically targeting its hotel booking operations that account for about 44% of its revenue. The probe could force Trip.com to end exclusivity practices and divest stakes in rivals, impacting its control of over 60% of China's online travel market.

Benzinga

Stay sharp, stay ethical, and keep following the money.
— The Integrity Ledger Team