The Daily: Trump names crypto-friendly Kevin Warsh as Fed chair nominee, Binance pledges $1 billion SAFU fund to bitcoin, and more

The following article is adapted from The Block’s newsletter, The Daily, which comes out on weekday afternoons.

Happy Friday! Bitcoin slid toward $81,000 at one point this morning after Wall Street yanked more than $1 billion from crypto ETFs on Thursday following the Fed’s latest pause.

In today’s newsletter, President Trump names crypto-friendly Kevin Warsh as his pick for Fed chair, Binance says it will convert its $1 billion SAFU fund into bitcoin, SoFi posts its first $1 billion revenue quarter amid the firm’s crypto expansion, plus more.

Meanwhile, Binance Head of APAC SB Seker said the world’s largest exchange will aim to complete the restitution for Gopax’s GoFi users this year, positioning the firm to challenge the top spot in the South Korean crypto market, Danny Park exclusively reports.

P.S. Don’t forget to check out The Funding, a biweekly rundown of crypto VC trends. It’s a great read — and just like The Daily, it’s free to subscribe!

Trump names crypto-friendly Kevin Warsh as pick for Fed chair after Polymarket bet surge

President Trump named Kevin Warsh as his pick for Fed chair, confirming speculation that intensified overnight as prediction markets shifted in his favor.

• Polymarket bets flipped sharply ahead of the announcement, with Warsh’s odds jumping from 39% to 95% on the decentralized predictions platform and 96% on Kalshi.
• Warsh brings deep Fed experience, having served as a governor from 2006 to 2011 and later working alongside Stanley Druckenmiller at Duquesne.
• He has taken relatively crypto-friendly positions, arguing that bitcoin does not threaten the dollar and can act as a “policeman for policy.”
• Warsh also has ties to the crypto industry through early investment with the now-defunct Basis stablecoin project and advisory and investor roles at Bitwise.
• Despite those views and his openness to rate cuts under certain conditions, markets still see Warsh as a monetary policy hawk who has criticized quantitative easing and called for a structural overhaul of the Fed.

Binance pledges $1 billion SAFU fund to bitcoin

Binance said it will convert its $1 billion SAFU insurance fund from stablecoins into bitcoin over the next 30 days to help support the industry through periods of uncertainty.

• The exchange framed the move as a long-term vote of confidence in bitcoin even as prices slid to multi-month lows this week.
• Additionally, Binance pledged to regularly audit and rebalance the fund to keep it near $1 billion if volatility drags its value down.
• The move comes as Binance and former CEO Changpeng “CZ” Zhao face renewed scrutiny on social media following recent comments and exchange decisions.

SoFi posts first $1 billion revenue quarter amid crypto expansion

SoFi Technologies, one of the largest online lenders in the United States, posted its first $1 billion revenue quarter in Q4 as profits reached $173.5 million, marking its ninth straight profitable quarter.

• The fintech also said it added a record 1.03 million new members, lifting its total user base 35% year-over-year to 13.7 million.
• SoFi accelerated its crypto push during the quarter by becoming the first nationally chartered bank to launch consumer crypto trading and issuing its SoFiUSD stablecoin.
• Management guided for at least 30% member growth in 2026 while targeting roughly $4.7 billion in adjusted revenue and $825 million in adjusted net income.

US DOJ finalizes $400 million forfeiture tied to Helix darknet crypto mixer

The U.S. Department of Justice has finalized the forfeiture of more than $400 million in assets tied to the Helix darknet crypto mixer.

• Prosecutors said Helix processed at least 354,468 BTC between 2014 and 2017, helping users launder funds from illegal marketplaces.
• Helix operator Larry Dean Harmon previously pleaded guilty to money laundering conspiracy and received a three-year prison sentence in 2024.
• The final court order lands as lawmakers and industry figures clash over how crypto mixers and privacy tools should be regulated.

Vitalik Buterin commits roughly $45 million in ETH to open-source security and privacy projects

Ethereum co-founder Vitalik Buterin committed 16,384 ETH, worth roughly $45 million at current prices, to personally fund open-source security and privacy-focused projects.

• He framed the move as his “own share of austerity” as the Ethereum Foundation shifts toward tighter spending and long-term sustainability.
• Buterin said the funds will support a full-stack push spanning software, hardware, and privacy tools over the next few years, aimed at strengthening self-sovereignty across the Ethereum ecosystem.

Over the next seven days

• U.S. mortgage data are released on Wednesday. The Bank of England’s latest interest rate decision is due on Thursday, followed by U.S. jobless claims figures.
• Bank of England governor Andrew Bailey will speak on Thursday.
• Celo, Optimism, dYdX, Sui, Ethena, EigenLayer, Hyperliquid, Wormhole, and Berachain are among the crypto projects set for token unlocks.
• CatLumpurr kicks off in Kuala Lumpur. Adopting Bitcoin Cape Town and Plan ₿ Forum El Salvador continue.

Never miss a beat with The Block’s daily digest of the most influential events happening across the digital asset ecosystem.

© 2026 The Block. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.