Crypto Majorly Red, Gold & Silver see massive selloff, Washington gives Crypto Green Light

Crypto majors are very red after one of the worst days in recent history; BTC -6% at $82,700; ETH -6% at $2,740; BNB -6% at $837; SOL -5% at $116. CC (+3%) led top movers. Gold and Silver fell 7% and 10% respectively, as the selloff hit metals as well. Trump nominated Kevin Warsh to replace Jerome Powell as Fed Chair. The SEC and CFTC’s “Project Crypto” initiative signaled incoming rules for tokenized collateral and onshore perpetuals. The Senate Ag Committee advanced the crypto bill 12-11, but zero Democrats voted yes; Sen. Booker blamed the White House for tanking negotiations over ethics provisions. CFTC Chair Selig withdrew the proposed ban on sports/politics prediction contracts and directed staff to draft new event contracts rulemaking - a major win for Kalshi and Polymarket. Ethereum OGs launched a $220M security fund using 75,000 ETH left over from the 2016 DAO hack. Vitalik announced he will invest $45M into Ethereum projects aimed at open-sourced security and privacy. Senator Cory Booker criticized the White House, saying Trump family crypto conflicts have made negotiations “infinitely harder”. Benchmark said Bitcoin’s quantum threat is “real but distant”, arguing the network has ample time to evolve.