Some people were flabbergasted when the Fed was buying Mortgage-Backed Securities off the open market, practically giving one group of people money, under the guise of stimulating AN economy.
Different people are going to be flabbergasted when the Fed, under a different group's leadership, starts buying cryptocurrencies by the $ billions every month, practically giving another group of people money, under the guise of stimulating AN economy.
And it will still be unaccountable to anyone that cares.
The European Central Bank buys junk corporate bonds simply because a Goldman Sachs alumni wanted to. The Swiss National Bank buys equity, straight off the New York Stock Exchange, at valuations it can never make a profit from dividends from. The Central Bank of Japan buys equity and bonds.
These institutions are funded by the future productivity of tax payers and can be exposed to heavy losses.
It isn't out of the question that they will buy the spot market in crypto commodities in the future just because someone familiar with that market is heading the bank.