Trump nominates crypto-friendly Kevin Warsh as Fed chair
US President Donald Trump has named Kevin Warsh as a candidate for the position of Federal Reserve chairman. Warsh is known for his loyalty to cryptocurrencies and blockchain, which could be a positive signal for the industry. Given the current contradictory attitude of US regulators towards cryptocurrencies, his appointment could help improve the dialogue between the authorities and the crypto community.
Binance pledges $1 billion SAFU fund to protect users
The world's largest cryptocurrency exchange Binance has announced the creation of a $1 billion security fund. The funds will be used to compensate Binance users in the event of a hack or other incident. This is an important step that will strengthen the trust of traders and investors in Binance. Against the backdrop of the recent increase in hacker attacks on cryptocurrency exchanges, the existence of such a fund could become a competitive advantage for Binance over other market players.
Other daily events
- The world's largest crypto fund Grayscale raised a record $1 billion last quarter
- The SEC rejected another Bitcoin ETF application, this time from WisdomTree
- Payment system PayPal is expanding its cryptocurrency services to the UK
Overall, the news of the day demonstrates the continued institutional adoption of cryptocurrencies in the world of finance. Despite some difficulties with regulators, major players are actively developing infrastructure and services for working with digital assets. This is a positive signal for the entire market and could become a driver for further growth of the crypto industry.