The Daily: Trump names crypto-friendly Kevin Warsh as Fed chair nominee, Binance pledges $1 billion SAFU fund to bitcoin, and more
Key news includes Trump naming Kevin Warsh as a crypto-friendly Fed chair pick, and Binance converting its $1B SAFU fund to Bitcoin.Summary
The daily newsletter highlights several major developments in finance and crypto. President Trump nominated Kevin Warsh, viewed as crypto-friendly due to his past support for Bitcoin and investments in crypto projects, as his pick for Fed chair, a move preceded by shifts in prediction markets. In industry news, Binance announced it will convert its $1 billion SAFU insurance fund into Bitcoin over 30 days as a long-term vote of confidence. Additionally, SoFi Technologies reported its first $1 billion revenue quarter, driven partly by its expanding crypto services. Other significant updates include the U.S. DOJ finalizing the forfeiture of over $400 million linked to the Helix darknet crypto mixer, and Ethereum co-founder Vitalik Buterin committing approximately $45 million in ETH to fund open-source security and privacy projects.
(Source：The Block)